862-unit condo in Whampoa East launches today

The 8 Riversuites condominium in Whampoa East launches today although some of the 862 units have already been snapped up.

More than 200 homes at the 99-year leasehold project were sold over a weekend during a private preview earlier this month, according to a UBS Investment Research report.

The average selling price was $1,400 per sq ft (psf), after buyers were given a 5 per cent early-bird discount by developer United Engineers.

The one-bedders of about 450 sq ft at 8 Riversuites were said to be priced at about $600,000 while two-bedroom units of about 700 sq ft cost about $900,000.

They make up about 60 per cent of the project and were the most popular among preview buyers, the UBS report added.

The project, which will have 843 units ranging from one- to four-bedroom homes across four towers and 19 strata-terraces, was designed by Japanese architect Miyake Masaki, who drew inspiration from the river. It is expected to be completed in the first quarter of 2016.

Reputable schools such as Cedar Primary, CHIJ Primary and Secondary, St Joseph's Institution International, and the Stamford American International School are close by.

Source: The Straits Times – 26 May 2012