SINGAPORE (THE BUSINESS TIMES) - Wing Tai Asia sold 70 per cent or over 360 units of its latest condominium project, The M, over the weekend, even amid the ongoing Covid-19 outbreak.
Units were sold at an average price of $2,450 per sq ft. The M is the first major private residential development opened for public preview since the virus outbreak hit Singapore.
Ms Stacey Ow Yeong, head of marketing, Wing Tai Property Management, said the majority of buyers are Singaporeans in their 30s and 40s, comprising both owner-occupiers and investors.
"Many of them were drawn to The M's prime location in the Ophir-Rochor Corridor, which is rapidly transforming into a vibrant, mixed-use and eventually car-lite district, our unique work-life design concept and our reasonable pricing," she said.
More than 2,000 people visited The M's sales gallery at the junction of Middle Road and Selegie Road when it opened its doors to the public on Feb 15-16. Various health and safety precautions were taken to ensure the well-being of clients, including professional cleaning of the sales gallery on an hourly basis, temperature screening, collection of contact details, and limiting the number of people inside at any one point in time, according to a statement by Wing Tai Asia.
As the expressions of interest in the first weekend were strong, balloting was carried out between 8.30am and 3pm on Feb 22. The M comprises studio and one- to three-bedroom units from 409 sq ft to 904 sq ft spread across three 20-storey towers and one six-storey tower.
The studio and one-bedroom units feature a design concept called home/work, which allows for living areas to be converted into workspaces. Design elements include a multi-function kitchen table for dining and entertainment that can be converted into a work desk, and a sliding wardrobe that doubles up as workspace storage solution.
The M is situated near to offices, shopping malls and medical facilities in the central business district, while the Bugis, City Hall and Esplanade MRT stations are a short walk away.
The condominium is expected to be completed by the first quarter of 2024.