New mall at Sengkang named ‘The Seletar Mall’

SINGAPORE – A joint venture shopping mall between Singapore Press Holdings Limited (SPH) and United Engineers Limited (UEL) has been named “The Seletar Mall”.

HDB awarded the tender for the 99-year leasehold commercial site located at the junction of Sengkang West Avenue and Fernvale Road. The project will be completed at the end of 2014.

The unique triangular shaped mall is 70 per cent owned by SPH and 30 per cent owned by UEL.

It is designed as a family orientated shopping facility with a friendly, comfortable and pleasant environment.

It will feature horizontal and vertical retail and space planning and include environmentally-sustainable features such as natural lighting and thoughtful material selection.

The four-storey shopping mall is designed to include a gross floor area of 284,000 sq ft which includes two basement levels and a Cineplex. An Aerospace Park which will be completed in 2013 will be constructed near the mall as well.

The new commercial building was built in mind to cater to the existing residents and those in the planned new residential developments in the vicinity.

Shoppers can access the mall via the Fernvale Light Rail Transit (LRT) and linked to the Sengkang North East Line (NEL). The Sengkang bus interchange is also nearby.

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The Luxurie at Sengkang a big hit with property hunters

6th Sept 2011

Keppel Land Limited has seen strong response for The Luxurie at Sengkang, with over 180 units sold at an average price of S$980 psf since sales started last week.

“The positive take-up, with more than 82 percent of the 220 launched units sold, reflects home buyers’ confidence in The Luxurie’s strong value offerings such as its prime location near the MRT station and wide array of amenities, as well as Keppel’s quality hallmark and attention to detail,” said Augustine Tan, President (Singapore Residential) at Keppel Land.

“The Luxurie is also the first suburban condominium to provide for private lap pools on ground-floor units and features an architecturally stunning clubhouse occupying the centre-stage, which lend exclusivity and a higher level of sophistication in the precinct,” he added.

Upon completion in 2015, The Luxurie will comprise 622 homes, ranging from one- to four-bedroom units and penthouse units with quality fittings and layouts.

In addition, the residential development will be equipped with entertainment and recreational facilities, such as a 50-metre Olympic length lap pool, gymnasium, a 30-metre leisure pool and a tennis court.

The Luxurie offers seamless connectivity to the rest of the island with its strategic location in the core of Singapore’s north-eastern hub. It is located near the Sengkang LRT and MRT stations, as well as Compass Point.

It is also close to various established schools, including Nan Chiau High School and Nan Chiau Primary School, and major expressways, such as Tampines Expressway (TPE), Central Expressway (CTE) and Kallang-Payar Lebar Expressway (KPE).

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Luxurie Showflat Opening Soon, Hotline 9108-5505

Luxurie @ Sengkang, Launching Soon……

Open For Booking Now!!! Call /SMS 91085505 for More Details.

Site Plan, Floor Plan, Project Specification, more Showflat Photo available.

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Keppel Land to launch new project in Sengkang

PROPERTY firm Keppel Land will launch a new 620-unit Sengkang project by the end of this year, despite a cooling market.

The announcement yesterday came on the day the company said its second-quarter net profit fell 65 per cent, largely due to the adoption of a new accounting policy.

Earnings were $50.5 million for the three months up to June 30, down from $143.8 million a year earlier, while revenue was down 67 per cent to $104 million.

The accounting change requires developers to recognise revenue and profit only on completion of certain projects. In the past, developers had smoothed out their revenue streams from projects, progressively recognising income over the contract period as certain milestones were met.

Keppel also faced slower home sales in China after a raft of cooling measures. It sold 400 homes in China in the first half of this year, well under the 1,200 sold in the corresponding period last year, but the firm said it does not plan to cut prices.

Group chief executive Kevin Wong said while cooling measures here and the impending supply from government land sales dampened Singapore’s private home sales in the first six months of the year, property in selected suburban regions and near MRT stations will still attract interest.

Healthy economic growth, a buoyant job market, ample liquidity, a low interest rate environment and the sustained influx of foreigners will also provide support for the residential market here, said chief financial officer Lim Kei Hin.

The company sold 160 homes here in the first half of the year, with a total value of $245 million.

Mr Wong said future investments – whether here or overseas, commercial or residential – will simply depend on opportunities. ‘In China, we started doing some commercial developments. In the past, we had not gone in in any big way; we focused on residential because that was a market that we thought had the most profits.

‘And of course, now with all these cooling measures, there are locations and opportunities where commercial markets will become attractive.’

Net profit for the six months fell 34 per cent to $134 million from a year earlier. Revenue rose 9 per cent to $462 million.

Earnings per share for the half-year dipped to 9.1 cents from 14 cents last year, while net asset value per share was $2.72 as of June 30, down from $2.85 as of Dec 31.

Source: The Straits Times © Singapore Press Holdings Ltd.

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