TENGAH Town’s first executive condominium (EC), Copen Grand, is fully sold a month after its launch, co-developers City Developments Limited and MCL Land said.
Second-time buyers who were unable to purchase an apartment unit during the initial launch snapped up the remaining 146 units of the 639-unit development on Saturday (Nov 26), after sales bookings opened for them that morning.
Under prevailing regulations for ECs, only 30 per cent of the project can be allocated to second-time buyers during launch.
Huttons Asia’s chief executive officer Mark Yip called this the best-selling EC in 2022, and believes this was the first EC project to sell out during a second balloting round.
“The value proposition for Copen Grand is very strong. (It has the) first mover’s advantage, unrivalled accessibility to three MRT stations, proximity to future Tengah Integrated Transport Hub and Tengah Boulevard Bus Interchange,” Yip said.
Yip also pointed out that Copen Grand is the first luxury EC to attain the Building and Construction Authority’s Green Mark Platinum rating for “super low energy” buildings. According to the authority, these buildings feature best-in-class energy efficiency.
The project was launched on Oct 22 with an average price of S$1,300 per square foot, with an additional 3 per cent applied to units sold under the deferred payment scheme. Some 73 per cent of the units were sold on the first day of its launch.
Transacted prices for the units range from S$1.09 million for a two-bedroom plus study to S$2.17 million for a five-bedroom premium unit.