98% of 700 launched units sold

Demand for a new waterfront development, Reflections at Keppel Bay, has been positive, with 98 per cent of the 700 launched units sold as at the end of last month. 
 
This was disclosed as the developer Keppel Land topped out the first tower today. 
 
It’s the first of the six glass towers to be completed in the waterfront residence development. 
 
Keppel Land chairman Choo Chiau Beng, who is also CEO of the parent Keppel Group, said positive economic sentiments, an improved job market and the buzz generated by the two integrated resorts, contributed to the return of buying interest in the residential market. 
 
Keppel Land also disclosed that it launched another 30 units at the development for sale over the last weekend due to strong buyer interest. 
 
Reflections at Keppel Bay has been billed as being ecologically responsible, achieving the Green Mark Gold Award by the Building and Construction Authority in 2008. 
 
Reflections at Keppel Bay is master architect Daniel Libeskind’s first residential showcase in Asia.

30 new units released ave $1950 psf

KEPPEL Corporation and Keppel Land are releasing a new batch of 30 units at their Reflections at Keppel Bay condo today at an average price of $1,950 per square foot (psf), assuming buyers will take the deferred payment scheme (DPS). 
 
Buyers who opt for the normal progressive payment scheme pay 3 per cent less. Sizes of units range from 900 sq ft to 1,600 sq ft. The 99-year development is still under construction. 
 
Reflections at Keppel Bay comprises a total of 1,129 units, of which 638 were sold as at end-July, according to Urban Redevelopment Authority data released this week. In July alone, five units were sold at prices ranging from $1,641 psf to $2,195 psf.

Ave price, just over $2,000 psf

Keppel Land released a new high-rise tower block at its Reflections at Keppel Bay on the weekend, putting up a third of the blocks 83 units for sale in Singapore and Hong Kong. 
 
About 10 apartments have been sold since Saturday, at an average of just over $2,000 per sq ft (psf). Prices range from $1,500 to $2,300 psf, depending on the floor and the view. 
 
A two-bedroom apartment on a low floor would cost about $1.5 million, according to property agents. Reflections has a total of 1,129 units in six high-rise tower blocks and 11 low-rise villa blocks.

Expected to release this weekend

Keppel Land is expected to release this weekend in Hong Kong and Singapore about 30-40 units under the next phase of Reflections at Keppel Bay .

Singapore’s Southern Waterfront Precinct

Premier residential developments in Singapore’s southern waterfront precinct 
 
Keppel Land’s, Reflections, presents a new face to world-class waterfront living with its stunning architecture by master architect Daniel Libeskind. A symphony of six glass towers and 11 villa apartment blocks will house 1,129 luxury homes along a 750-metre shoreline - all of which enjoy unparalleled views of the waterfront, the Keppel Club golf course and lush surrounds. 
 
Combining heroic forms and classical elegance, the towers rise spontaneously as ‘beacons of light’ at the gateway of Singapore’s southern waterfront hub comprising Keppel Bay, HarbourFront and Sentosa. The towers will rise to 24 and 41 storeys while the spacious villa apartments are six to eight storeys high. Crowning the towers are lush sky gardens on sloping rooflines, and are linked by sky bridges, providing pockets of open spaces and platforms with near 360-degree views of the spectacular surrounds. 
 
All 620 units in Phase One have been fully sold. The development is scheduled for completion in 2013. In the pipeline within the Keppel Bay precinct are three more sites for future development - two on the mainland and one other plot on Keppel Island.

Expected to set new price benchmarks

Remaining units at upmarket waterfront residence, Reflections at Keppel Bay, are expected to set new price benchmarks for condos in the harbourfront area. 
 
This bullish view came from its joint developer Keppel Land. 
 
620 units released under phase one were sold for an average of nearly S$2,000 per square foot. 
 
Keppel Land says they expects even higher prices for the remaining 509 units as some of the more expensive blocks have been reserved for phase two. 
 
He believes the super penthouse, which has an area of more than 12,000 square feet, will set a brand new price benchmark.

56 apartments for $286 million

A few months ago, an Islamic real estate fund set up by Kuwait Finance House and the Malaysian government-owned Amanah Raya Berhad, picked up two blocks (with a total of 56 apartments) at Reflections at Keppel Bay for about $286 million.