Business & Economy Property The Woodleigh Residences launch price slashed by up to 13 per cent

The Woodleigh Residences launch price slashed by up to 13 per cent

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The Woodleigh Residences launch is slated for this Saturday (May 11). The development by Japanese property developer Kajima Development (Kajima) and Singapore Press Holdings (SPH) is positioned as a premium integrated development which leverages Japanese design.

Woodleigh Residences launchThe Woodleigh Residences is the latest and most ambitious integrated premium housing project of Japanese property developer, Kajima and SPH. The development is being built above The Woodleigh Mall, and is also connected to Woodleigh MRT station and an air-conditioned underground bus interchange.

Located at the junction of Upper Serangoon and Upper Aljunied Road, this premium housing project sits on 25,440 sqm of land and is Bidadari’s only integrated development. The development is also integrated with a neighbourhood police post and a community club, offering a complete and convenient living experience.

As part of community building, Kajima and SPH will work with the People’s Association and the Singapore Police Force to build a 6,000 sqm Community Club and a 2,190 sqm Neighbourhood Police Centre in the integrated development.

The Woodleigh Residences itself will boast 667 premium residences overlooking the tranquil Alkaff Lake and Bidadari Park, while The Woodleigh Mall will have close to 28,000 sqm of retail, dining and commercial space, including a supermarket.

The Woodleigh Residences launch over the coming weekend will see its two, three- and four-bedroom units starting from $1,733 per sq ft.

The 99-year leasehold property sold 60 per cent of the 50 units released for sale during its soft launch in November, which prompted the developers to release another 50 units. The developers said that units sold over the soft launch weekend achieved an average of above $2,000 per square foot.

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Blogger Blade Knight said the developers must have “decided that the risk of the market downturn may not be worth it and started slashing prices drastically in order to move more units.” He noted that the developers were only able to sell 30 units on the first weekend of its initial launch albeit declaring that 60% were sold by proclaiming that they only launched 50 units.

The blogger added that The Woodleigh Residences launch over the weekend, will see “a 958sqft 3 bedder unit prices (drop) from S$1.92Mil to S$1.66Mil which translates to substantial savings of +S$256K for potential buyers relative to the first batch of VVIP.”

“This does not seem fair to those first batch of buyers who had supported this integrated mixed commercial and residential project of SPH and Kajima during launch. I hope that SPH and Kajima would have given some goodwill renovation packages to compensate these initial buyers.”

The blogger said though that he is glad that SPH has decided to slash the price at The Woodleigh Residences launch in order to move their inventory of unsold units.

Commenting on The Woodleigh Residences launch over the coming weekend, SPH chief executive officer Ng Yat Chung said: “SPH is pleased to work with Kajima to offer The Woodleigh Residences. As Bidadari’s only integrated development, and with the new plans announced for the Bidadari estate, this development is the jewel of Bidadari.”

Mr Keisuke Koshijima, executive vice-president of Kajima Corporation, said: “Over the years, when units got smaller in Japan, the industry developed many Japanese techniques and technologies to make smaller spaces ‘bigger’ – efficient space maximisation.”

He added: “The Singapore real estate market in the recent years, albeit later than Japan, has started to build smaller units, and we believe that with our proven experience from Japan, we can bring these efficient space maximisation technologies to enhance the living experience in Singapore.”

Private home price decline gained momentum in Q1 2019

Considered as the Jewel of Bidadari Estate Master Plan, Woodleigh Residences is well-placed to be the heartbeat of Bidadari as the Master Plan unfolds. It is well-positioned to benefit from the area’s development and will also be the heartbeat of Bidadari’s ‘A Community in a Garden’ concept. Being sited right by a lake and parkland will allow residents to enjoy picturesque views of Alkaff Lake and Bidadari Park.

Its excellent location at the city fringe with major expressways only minutes away has made Bidadari one of the most sought-after new housing estates in Singapore, with its sale of Build-To-Order (BTO) flats receiving overwhelming reception. As such, residents also stand to benefit from a large pool of future potential resale buyers as well as capital gains.

The Woodleigh Residences is also within a 1-2 km catchment of popular primary, secondary and international schools. These include St. Andrew’s Village with its primary and secondary schools and junior college, Maris Stella High School, Cedar Primary School and Stamford American International School.

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