91 Pasir Ris EC units sold on first day of booking

MORE than 90 units have been sold at executive condominium (EC) Watercolours on its first day of booking.
The 99-year leasehold project in Pasir Ris opened for booking at noon yesterday and will close at 9pm today. 

The 416-unit exec condo - the latest of a number of new projects in the area - will be built at the junction of Pasir Ris Drive 3 and Pasir Ris Link. 

Huge Development - a consortium made up of Ho Lee Group, UE E&C, GPS Alliance Development and Investment, and Evia Real Estate - is behind the project. 

Buyers - an even mix of first- and second-timers - snapped up a range of units, although the three-bedders proved more popular. 

Per sq ft (psf) prices at Watercolours range from $570 to $750, and work out to an average of $706 psf.
Mr Hong said two-bedders start from $530,000, three-bedders from $639,000, four-bedders from $885,000, and penthouses from $1.07 million. 

However, yesterday's sales figure is lower than expected, and that the developers may have to review their marketing strategy. 

It could mean that this exec condo is facing stiff competition from others that have been launched. Some buyers might also be waiting for new ones, which could be in a location they prefer. 

Source: The Straits Times – 2 June 2012