SINGAPORE - Copen Grand, the first executive condominium (EC) project in Tengah Town, Singapore’s first smart and sustainable precinct, has received 2,300 applications from prospective buyers and attracted about 20,700 visitors since its sales gallery opened on Oct 7.
Limited new EC stock, as well as Copen Grand’s proximity to three upcoming MRT stations and two neighbouring hubs - the Jurong Lake District and Jurong innovation District - were among reasons for the strong interest, a City Developments spokesman said on Tuesday.
The application period for eligible EC buyers of the 639-unit project commenced on Oct 7 and closed on Monday.
Sales bookings will start on Saturday. Those who want to book a unit must drop off their ballot tickets at the sales gallery on Wednesday and Thursday, from 10am to 9pm, for balloting on Friday.
Copen Grand is one of two major EC launches expected in the fourth quarter.
The 618-unit Tenet in Tampines is expected to launch in November.
Analysts expect demand for these two EC projects to be robust as these homes are more affordable compared with the launch prices of some new suburban condos and as EC supply remains tight.
Another pull factor is that EC buyers can opt for the deferred payment scheme and may be eligible for a CPF housing grant of up to $30,000. Those who are upgrading from Housing Board flats to a new EC also need not pay the additional buyer’s stamp duty upfront.