By Lynn Kan
CAPITALAND will release 200 units of its highly anticipated 1,715-unit residential project, d'Leedon, this weekend for sale to former owners of Farrer Court, who sold the land to CapitaLand in 2007.
CapitaLand said that the public launch of the 99-year leasehold residential project on Farrer Road will be 'soon' after this preview.
The units that will be on sale range from one-plus- study to four-bedroom units. The average selling price is S$1,680 per square foot (psf), which translates to below $1 million for the smallest units to $1.5 million for a two-bedder.
These units are drawn from two of d'Leedon's seven 36-storey towers, which are near its King's Road entrance. They make up barely one-third of the two towers' 678 units.'
d'Leedon will also have penthouses, three-storey garden homes and landed property. The latter, 12 semi-detached garden villas, will be rolled out in d'Leedon's last phase. CapitaLand would not say how many phases the project will have.
The total cost of developing the District 10 project is about $3 billion. This includes the $1.3 billion price tag for the 840,049 sq ft site which was bought in a collective sale in 2007. The breakeven cost remains at CapitaLand's previous estimates of $1,350 to $1,450 psf.
d'Leedon is being developed by a CapitaLand-led consortium that includes Hotel Properties Limited, a fund managed by Morgan Stanley Real Estate, and Wachovia Development Corporation.
Yesterday, CapitaLand Residential Singapore's chief executive Wong Heang Fine said that interest in d'Leedon seems to be good, with 300 of Farrer Court's 600-odd residents indicating that they would come to the preview.