The outlook may be gloomy for some Sentosa homes but waterfront homes will continue to be rare and sought after by those who enjoy the lifestyle, Keppel Land president Tan Swee Yiow said yesterday.
The company is set to complete its 366-unit Corals at Keppel Bay next month and will relaunch the 44 per cent of units that remain unsold, likely later this year.
The luxury condominium is on the mainland with views of Keppel Bay and Sentosa beyond.
Yesterday, the company showed off the latest smart home technology that will be introduced at the project.
Keppel Land does not face Qualifying Certificate extension charges on unsold units at the project as it acquired the site before December 2011 when the rule was introduced.
It has two more development sites in Keppel Bay which can support an estimated 320 units in total.
Mr Tan disagreed that waterfront homes may have lost some of their appeal given slow sales in Sentosa. "(Such) homes are a rare commodity.
"How many units can you find in Singapore with such a view? There is demand from people who enjoy this lifestyle."
Keppel Land has, over the years, shown buyers the attractiveness of living in the area, with Caribbean at Keppel Bay and later, Reflections at Keppel Bay, he said.
Corals at Keppel Bay went at an average of $2,200 per sq ft when launched in 2013. Pricing for the next launch will be announced closer to the date.
The latest smart home features at Corals at Keppel Bay come after Keppel Land rolled out such technology for 30 households at The Luxurie, its 622-unit condominium in Sengkang early this year.
This included lighting control and a "home security package" where residents can be alerted to unwanted entry or when motion is detected in off-limits areas in the home.
Residents of Corals at Keppel Bay will enjoy an enhanced, more personalised version of smart home technology - all via a application called Habitap created by Philip Tang & Sons.
"(Implementing smart home technology) is a continuous process of improvement, not a one-off exercise... We think residents will enjoy and benefit from it," said Mr Tan, who noted the company will look to introduce these features at its other projects such as Highline Residences.
Habitap is different from other smart home technology in that it is a fully integrated platform which not only allows the user to control devices in his home, but also manage his community and lifestyle, said Mr Franklin Tang, chief executive of Philip Tang & Sons.
For example, Corals at Keppel Bay is believed to be the first condominium with an RSVP system built into the smart home system.
Habitap also has a lifestyle section connected to restaurants, food and grocery delivery companies and transport companies, among others. "We hope to become the standard for smart home living," said Mr Tang, who said he is holding discussions with companies in the commercial and hospitality sectors over the use of customised versions of Habitap.