Swire Properties sells all apartments in luxury Singapore development for US$219 million
- Swire Properties sold 20 luxury flats in Singapore’s Eden project for a combined US$218.8 million, which involved more than one buyer
- The project, which features flats with a floor area of 3,000 sq ft each, is located on Orchard Road
Swire Properties has sold all the flats in a luxury residential project in Singapore for HK$1.7 billion (US$218.8 million) involving multiple buyers.
The 20 units in the Eden project, each of which has a floor area of 3,000 square feet (279 square metres) and featuring four bedrooms, was sold for HK$27,800 per sq ft, the Hong Kong-based property developer said on Thursday. The sale will be completed by May 26, subject to the fulfilment of the purchase agreement, it said.
The Eden project is located in Singapore’s District 10 Orchard Road neighbourhood. The property was completed in 2019 and is the first completed global residential development designed by Thomas Heatherwick of Heatherwick Studio.
“We’re delighted to sell all 20 flats at Eden, our phenomenal ultra-luxury residences in the heart of Singapore,” said Guy Bradley, chief executive of Swire Properties. “This is a significant transaction as it reflects Eden’s distinct design, which has been combined with green living experiences, and also recognises the strength of our residential brand in this new market. Moving forward, we’ll continue to explore Singapore for more opportunities that showcase our brand and fit our business strategy.”
Singapore’s property sector has held up well despite the impact of the pandemic on the economy. Private home prices were up 2.2 per cent last year, compared to a growth of 2.7 per cent in 2019, data from Savills shows. Developers sold 9,982 private residential units in 2020, 0.7 per cent higher than the 9,912 units in 2019.