Monday, 23 Nov 2020

The Linq @ Beauty World sells 96% of residential units in weekend launch

SINGAPORE (THE BUSINESS TIMES) – MIxed-use development The Linq @ Beauty World sold 115 out of 120 apartments over the weekend, in a Covid-19-era, tech-enabled launch.

The freehold project, at Beauty World MRT station, includes two floors of shops and a 20-storey residential block.

Units fetched between $2,150 and $2,200 per square foot on average, mainboard-listed construction group BBR Holdings said on Sunday (Nov 15).

The bulk of the apartments – which ranged from one- to four-bedders – went to Singapore citizens and buyers from the neighbouring Hillview, Dairy Farm and Upper Bukit Timah areas.

Said BBR chief executive Andrew Tan in a statement: “We kept the pricing sensitive and affordable, which manifested itself by the practical sell-out.”

BBR subsidiary Alika Properties bought what was then the Goh & Goh Building for $101.5 million in 2017.

It snagged an en-bloc deal below the owners’ original asking price of $120 million for the 2,868.3 square metre freehold site in Upper Bukit Timah Road.

Meanwhile, Karamjit Singh, chief executive of digital booking platform provider Showsuite, noted: “Pre-Covid and conventional project launches (were) typified by massive crowd gatherings for on-the-spot balloting in tentages, waiting, queuing and signing on paper documents.”

In contrast, the launch of The Linq @ Beauty World saw early remote balloting, scheduled appointments with buyers “and digital signing and payments which can even take place at the buyers’ homes”, Mr Singh said.

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