City Developments (CDL) and CapitaLand have fully sold their joint venture Botannia condominium project, located near West Coast Park.
The majority of the 493-unit development with a 956-year leasehold was bought by Singaporeans. Foreigners purchased about a quarter of the units.
In a statement, CDL said the strong sales is a clear indication that homeowners and investors have become more upbeat, especially in the mass to mid-market segments.
Botannia was soft-launched at an average price of S$680 per square foot and CDL said it has since achieved an average price of S$742 psf.
The development comprises two- to four-bedroom units and penthouses.
Encouraged by the good showing, CDL said it is fast tracking its plans to launch another private residential development in the West Coast vicinity, sited at the former Hong Leong Garden condominium.
Source : Channel NewsAsia – 29 May 2009
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