Nanshan Group, who is based out of China, recently launched its earliest project, a private condominium at Lorong Puntong called Thomson Impressions. Its average selling price is $1,400 psf and the project holds 288 units in total and is situated on a parcel of land with a 99 year lease-hold
A joint venture was recently formed between Nanshan Group and Vico Construction to develop this project, which was purchased back in October of 2013 for $173.57 million, the equivalent of $731.10 per square foot for Lorong Lew Lian Condo.
Lorong Lew Lian Condo
Zuo Haibin, along with wife Li Ming Hua, are the owners of Vico Construction. Up until February of 2015 Mr. Zuo was the executive director of South Pacific Qingjian International. He is now the spokesman of Upper Serangoon Condo, as well as the appointed director of NS Property, a special purpose vehicle of JV. Mr. Zuo shared that this project has gone back to basics and is geared towards occupiers in a market that has been inundated with shoe-box units.
Because of their tenure of the piece of land, freehold properties are often more pleasing to buyers within the open resale market as compared to lease hold houses. Nevertheless, the comparatively high asking prices of these freehold properties could certainly have triggered a growth inside the number being set up for auction in CDL Serangoon Condo,” Lee explained.
Hong Leong Holdings Condo
He further pointed out that, keeping this target group in mind, each unit has been designed in such a way that will allow the main bedroom of the unit to fit a king sized bed, while the smaller bedrooms are able to fit a queen sized bed.
The project itself is situated about 600 metres of walking distance to the Thomson MRT lines’ soon to come Bright Hill MRT station for Lorong Lew Lian Condo Hong Leong. One of the marketing agents for the project is ERA Realty.
Regarding total sales, the number of houses effectively auctioned off increased to 10 through the third quarter from nine inside the preceding time period. Particularly, five belonged under owner’s sale, converting to a success of 6.8 percent because there were 73 real estate readily available in this segment. Remarkably, only two homes out of 70 had been purchased this section in Q2 2014 at Serangoon CDL Hong Leong Condo.
Serangoon CDL Hong Leong Condo
Mr. Zuo feels confident about the uptake in sales for the project, considering the vicinity’s availability of resale units being quite limited, as well as the projects smaller scale, attributes of the location and pricing in Lorong Lew Lian Condo.
Mr. Zuo is a permanent resident of Singapore, with both his son and wife being Singapore natives. They see the location of Thomson as a favourable and exclusive on that can offer a number of possibilities due to its Hong Leong Holdings Condo close vicinity of the Singapore Island Country Club, the upcoming MRT station and the Ai Tong school. Also to become a Singaporean is the founder of Nanshan Group, Song Zuowen.