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IF LARGENESS were an indicator of might and excellence, then Keppel Corp must surely be number one, with the super penthouse at its upcoming Reflections at Keppel Bay luxury condo set to break size records.
Keppel on Friday revealed that the enormous six-bedroom unit would be 13,300 square feet (sq ft) in area, with a built-in space of 11,000 sq ft, spread across the top three levels of the 41-storey project.
This will make it the largest penthouse to fetch on a per-square-foot basis, its spokesman said the company expects prime units at the project to sell for more than $2,000 per square feet (psf). This compares with other waterfront developments currently valued between $1,500 and $2,000 psf.
Since the inception of Reflections early this year, Keppel Corp has received "strong interest", said the company. Over 1,000 potential buyers from Singapore and overseas have registered interest in the units at the project and some have expressed interest in the penthouse.
"Reflections at Keppel Bay continues to attract a strong stream of enquiries from international retail buyers and investors," said Keppel Corp.
Besides the usual regional markets, enquiries have been coming from as far afield as the Middle East, India and China.
Keppel's immediate focus, however, is Singapore with many of its overseas buyers appointing proxies or arranging to come for the launch. The company plans to go on road shows in the region after the launch.
The project is located just five minutes away from the Central Business District and close to the upcoming Integrated Resort (IR) and Vivocity mall.
Reflections at Keppel Bay will be a giant development of 84,000 sqm with an extensive shoreline of 750m, unique for a condominium project in Singapore.
It will have six tower blocks and 11 blocks of low-rise villas.
Apartments come in a variety of sizes - from one-bedroom-and-study units to two-bedroom-and-study units, as well as three and four-bedroom units. There will be 35 penthouses from a total of 1,129 units.
Recreational facilities include a double-storey clubhouse, landscaped sky bridges, a gymnasium, a full-length Olympic-sized swimming pool, a children's pool, a lap poll and Jacuzzi, two tennis courts and water features, including a 100,000 sq ft reflecting pool.
RECORD-BREAKING: Reflections at Keppel Bay (above) will consist of
six tower blocks on the waterfront. The condominium's six-bedroom
penthouse (top)will be over 13,000 sq ft in area.
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But with the current stock market dips, people appear to be getting more cautious, say experts. This, compounded by fears of a steep downturn in the American property market, may not result in the same sort of exuberant queues and buying seen recently at the Marina Bay Residences and One Shenton launched.
"There will be interest but you may not see the same sort of crazy queues as you did a few months earlier. People may be adopting a wait-and-see attitude. Of course, those who have not bought earlier and not heard of any negative rumours in the market may go in," said Mr Colin Tan, head of research at property consultancy Chesterton International.
Keppel, however, is confident about the drawing power of its latest project and in the strength of Singapore's property market.
"We believe that confidence remains strong in Singapore's growth as an international business and financial hub, and she is well positioned to continue to attract investments. Hence, despite some hiccups, positive sentiments in the Singapore property market should (continue)," said a spokesman.
The best sign of this is that interest in Reflections at Keppel Bay has not abated since the development was unveiled in January.
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