Business

70% of units at The Tapestry in Tampines snapped up

Around 70 per cent, or 315, of the 450 units released at The Tapestry in Tampines were snapped up over the weekend.

The average price per sq ft is $1,310.

Yesterday, developer City Developments (CDL) said all unit types had a "good take-up rate", particularly the one-bedder and two-bedroom units.

The Tapestry, which has 861 units, is a 99-year leasehold property comprising seven 15-storey blocks, with unit sizes ranging from 441 sq ft for a one-bedroom unit to 1,765 sq ft for the largest five-bedroom, dual-key apartments with a study.

Prices start from $596,000 for a one-bedder. The two-bedder units are going at $796,000, and the three-bedders at $1.15 million.

Prices are $1.65 million for the four-bedroom units and $2.1 million for the five-bedroom, dual-key with study apartments.

The remaining 411 units will be released progressively.

CDL said that 76 per cent of the buyers for the first launch are Singaporeans, while the remaining 24 per cent are permanent residents and foreigners from Malaysia, China, India, Indonesia and Hong Kong.

Among the buyers was Singapore paralympic swimmer and medallist Theresa Goh, who bought a two-bedroom unit.

On March 15, CDL group general manager Chia Ngiang Hong said that the firm had received "very strong inquiries" for the launch of The Tapestry.

He added that CDL expects "good take-up" from new home buyers, upgraders and investors.

The property, which is on Tampines Street 86, is developed by Bellevue Properties, a wholly owned subsidiary of CDL.

The Tapestry is the "first premium suburban condominium" to be launched this year, said CDL and has over 50 facilities, including a 100m infinity pool, 24-hour gym, and a childcare centre.

Home owners will have the option to adopt a smart voice assistant which enables them to control most smarthome devices by voice.

CDL closed at $12.88 on Friday, down 31 cents, or 2.4 per cent. - THE STRAITS TIMES

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