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1. Written by News on 27-01-2010 00:01
 
 
85% of units sold
City Developments Ltd (CDL) said yesterday evening that it has sold about 85 per cent or about 150 of the the total 177 units at its Cube 8 condo at Thomson Road, which it began previewing last week. 
 
Singaporeans bought 75 per cent of the units sold. The other 25 per cent were picked up by permanent residents (PRs) and other foreigners – mainly from Malaysia, Indonesia, Hong Kong, Korea, India, China and Europe. 
 
The District 11 freehold project was initially priced at $1,250 psf on average but prices were upped 2-3 per cent for subsequent releases. 
 
CDL group general manager Chia Ngiang Hong said in a statement that the buyers were an ‘equal mix of owner-occupiers and investors’ and that this pointed to the development’s appeal to both home owners and investors. 
 
Some market watchers suggest, however, that the project has probably also drawn a fair number of specuvestors. Slightly over half of the total 177 units comprised one and two bedders and these were the first to go, mirroring the pattern for other projects that were launched in Districts 9, 10 and 11 last year.
 
2. Written by News on 23-01-2010 19:59
 
 
Almost all 120 released units sold
CDL intends to release additional units in the 177-unit freehold condo over the weekend 
 
CITY Developments Ltd (CDL) has sold almost all of the 120 units it had released as of yesterday evening at its Cube 8 condo at Thomson Road during a two-day preview. Most of the units were sold yesterday . 
 
CDL released an initial 80 units at an average price of $1,250 psf but due to strong demand, offered a further 40 units. Prices of the latter batch are understood to have been increased slightly, probably in the order of 2-3 per cent. 
 
The company said yesterday evening that it intends to release additional units in the 177-unit freehold condo over the weekend. ‘The strong sales-to-date for Cube 8 reflects the positive sentiment in the property market and attests to our ability to market the appropriate products at the right time,’ said CDL’s group general manager Chia Ngiang Hong 
 
One- and two-bedrooms were the first to be snapped; for three bedders, higher floor units were in greater demand, BT understands. The 36-storey condo is being built on the site of the former The Albany and Thomson Mansions in District 11. The 39 one-bedders have been sold out and a substantial number of the 58 two-bedroom apartments have also found takers. 
 
The one bedders, with an area of 560 sq ft, were priced from $740,000 upwards, BT understands. Prices of two-bedders start from $1.1 million while three-bedroom apartments, ranging from 1,335-1,475 sq ft, cost anywhere from nearly $1.6-1.8 million. Four bedders are priced at about $2.5 million each, while sky villas or penthouses cost at least $3.5 million apiece. 
 
BT understands that Singaporeans had bought the majority of units as of yesterday. Foreigners (including permanent residents) picked up about 20-25 per cent. Indonesians, Indians and Koreans were among those said to have bought. 
 
CDL opened the showflat to former owners of The Albany and Thomson Mansions on Thursday. After they had made their selections, directors and staff were invited. The ‘public preview’ began yesterday. 
 
CB Richard Ellis and Huttons are the marketing agents for Cube 8.
 
3. Written by News on 23-01-2010 05:00
 
 
Average $1,250 psf
City Developments opened the doors of Cube 8 at Thomson yesterday to former owners of The Albany and Thomson Mansion, the projects that used to stand on the site. 
 
Staff and directors were also invited to the preview, where units were sold for an average of $1,250 psf, The Straits Times understands. 
 
The public preview for Cube 8 will start today.
 
4. Written by News on 20-01-2010 01:36
 
 
Average price expected $1,250 psf
CITY Developments Ltd (CDL) is expected to begin previewing its Cube 8 condo on Thomson Road this week; the average price is tipped to be at about $1,250 per square foot. 
 
At Thomson Road, on the site of the former The Albany and Thomson Mansion, Cube 8 will be developed into a 36-storey condo comprises of 177 units. The project is next to the group’s earlier project, The Arte at Thomson, which it began selling in March last year at an average price of about $880 psf; by May, CDL had revised the pricing to about $900 psf on average. Six units are still available in the 336-unit project, according to government data on developers’ December sales. 
 
While the two projects are next to each other, The Arte is in District 12 while Cube 8 is in District 11 – one of Singapore’s three traditional prime districts. A property consultant who is not involved with marketing Cube 8 described the $1,250 psf reported average price for the development as ‘aggressive but achievable’. He noted that in the secondary market, owners of upper floor units in Sky @ Eleven – a 43-storey development which offers better views of the Singapore Polo Club and surrounding greenery – are asking $1,400 psf and above. 
 
Cube 8 includes 39 one-bedroom units, 68 two-bedders, 57 three-bedders, nine four-bedroom apartments and four penthouses or sky villas. Prices of one bedroom units, which will have an area of about 560 sq ft, are expected to start from about $730,000. Three bedders, which will be 1,335 to 1,475 sq ft, will cost $1.6 million to $1.9 million. The sky villas will likely be priced above $3.5 million apiece.
 

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