Watertown in Punggol almost 97% sold
The Watertown integrated development in Punggol is almost 97per cent sold, according to developer Far East Organization yesterday.
The remaining 34 units are mainly those with three or four
bedrooms, and range in size from 1,173 sq ft to 1,550 sq ft.
These are among the "best-facing units within the
development overlooking the Punggol Waterway", said Far East, which is
co-developing the project with Sekisui House.
Watertown is Punggol's first project with both a retail and
residential component.
The retail portion, called Waterway Point, will feature a
"24-hour basement" level, with a FairPrice Finest supermarket and
Shaw Theatres operating round the clock.
FairPrice Finest will occupy about 30,000 sq ft of space at
Waterway Point, making it one of the chain's largest outlets here.
Mr Christopher Tang, the chief executive of Frasers
Centrepoint Commercial, said yesterday: "We are delighted that NTUC
FairPrice Finest has committed to be one of the early anchor tenants.
"We are confident that the mall will be the centre of
attraction at Punggol waterfront."
With total development costs estimated at over $1.6 billion,
Watertown is the largest private development in the Punggol Central master
plan, Far East added.
Shops will occupy 40per cent of Waterway Point, while
eateries will take up 30per cent. The rest will be occupied by entertainment
and other service providers, such as educational establishments, banks, and
civic and community amenities.
In August, Hyundai Engineering & Construction was
awarded the main construction contract, worth US$380million (S$466million), for
the Watertown development. Construction of the retail component has just
started and is scheduled for completion by 2015. The residential component is
expected to be completed by 2017.
Separately, Far East said it has sold 96per cent of the
units at another of its mixed-use projects, The Hillier at Hillview Avenue.
The 528-unit development was launched in January and 21
units are left.
Source: The Straits Times – 6 October 2012