The exact North Park Residences price will not be available till the actual VIP Preview itself.
In the meantime, analyst’s expectations span a wide range – from $1,5xx PSF (assuming 10% profit margin), to around $14xx PSF (breakeven), to $1,3xx PSF (if Frasers chooses to sell at a bargain, slightly below cost).
Please drop us a note below if you wish to be updated once the indicative North Park condo prices are released.
North Park Residences Price · Market Update
This mixed-use residential & commercial land sale at Yishun Central 1 drew a top bid of $1.4 billion, or $1,077 per square foot per plot ratio (psf ppr), from subsidiaries of Frasers Centrepoint Ltd (FCL).
Christopher Tang, chief executive officer of Frasers Centrepoint Commercial, said that Frasers’ bid “… demonstrates our confidence in the suburban mall sector, and is line with our strategy to strengthen our foothold in the Yishun area”.
The site of North Park Residences is right next to Northpoint mall, which is under Frasers Centrepoint portfolio. Winning the bid for North Park was therefore very much a strategic move. In addition to strengthening their presence, the 2 sites can operate in synergy.
As Mr Tang noted: “The integration with Northpoint will create synergies and operating economies for both retail malls, through an improved tenant mix and enlarged offerings for shoppers.”
He also says that “… this is one of the last remaining mixed-use sites within the Yishun central area, which has the potential to become one of the largest integrated developments in Singapore.”
For details of this URA Land Sale and award to FCL, see this report (opens in new window).
North Park Residences Price · Contact Form
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