More than 140 units of The Tre Ver, a new 99-year leasehold condominium in Potong Pasir, were sold within the first three hours of its launch last Saturday.
The sales represent over 70 per cent of the 200 units released in Phase 1. The project, designed by Woha Architects, is developed by UVD (Projects), a 50-50 joint venture between UOL group and United Industrial Corporation.
Ms Jesline Goh, senior general manager for asset management and marketing at UOL, said the group was "very pleased" with the response as it was stronger than the Phase 1 launches for UOL's previous projects such as Thomson Three, Principal Garden and Botanique at Bartley. "We believe the buyers saw the strong value proposition of the product and the realistic pricing."
The first phase of The Tre Ver's launch achieved an average transacted price of $1,550 to $1,600 per sq ft. According to UOL, a one-bedder starts at $738,000 while a two-bedder costs $898,000 or higher. A three-bedder and a four-bedder cost upwards of $1.54 million and $2.08 million, respectively.
Most buyers in Phase 1 are Singaporeans and first-time home owners, Ms Goh noted. "Riding on this success, we are immediately releasing Phase 2, with more units offering dual view of the amenities and the river," she said last Saturday.
A total of 150 units were released in Phase 2 yesterday. No new numbers on take-up or average transacted prices were offered for this phase.
The Tre Ver, slated for completion in August 2022, fronts the Kallang River and is a 10-minute walk from Potong Pasir MRT station. It is located on the site of former HUDC estate Raintree Gardens, which in October 2016 was sold en bloc to UVD (Projects) for $334.2 million.
The condominium will comprise three 20-storey blocks, two 19-storey blocks, and four eight-storey blocks comprising seven levels of residential units and a facilities deck. It includes a two-storey carpark, a basement carpark and facilities such as a 50m lap pool and outdoor spas.