Reflections condo preview fetching up to $2,400 psf

BY JOYCE TEO
PROPERTY CORRESPONDENT

Sales for the latest 99-year leasehold waterfront condominium - Reflections at Keppel Bay - started yesterday with the highest price recorded at just over $2.400 per sq ft (psf).

Developer Keppel group said it has sold around 124 out of 150 released units at the condo, which was designed by renowned American architect Daniel Libeskind.

The prices averaged $1,900 psf to $1,950 psf - a new benchmark for the Harbourfront/Sentosa area.

Another waterfront condo Marina Bay Residences in Marina Bay had achieved an average price of $1,950 psf last December.

Yesterday was the preview for directors, staff, business associates, and a small group of very important guests.

AT least 30 per cent of those who bought into the 1,129-unit project were foreigners, said Keppel Land director (Singapore residential) Augustine Tan.

Today and tomorrow will be the preview for invited guests, followed by the public launch on Friday.

"The plain is to release about 500 units progressively," Mr Tan said at the 30,000 sq ft showflat last night, but more will be released if demand is strong.

The highest-priced unit so far - at just over $2,400 psf - was for a villa unit in a low-rise block. It cost around $8 million.

Reflections at Keppel Bay has six tall glass towers of 24 and 41 storeys and 11 shorter blocks of villa apartments.

Not all the blocks have sea views. Some units face the channel separating the project from Caribbean at Keppel Bay while others look over the Keppel Golf Course.

The project has 35 penthouses - including a 13,300 sq ft super penthouse - that are being kept back for sale at a later date, but bids are being sought. They will be priced higher than $2,400 psf, said Mr Tan, and will likely go to the highest bidders.

Keppel has received some offers from foreign funds for its tall glass towers but it has yet to decide if it will sell entire blocks this way.

Meanwhile, the positive vibes from Reflections has spilled over to Keppel's 969-unit Caribbean at Keppel Bay condo next door.

Recent resale deals have been done at close to or over $1,000 psf, with the highest being $1,314 psf, according to caveats lodged.

As recently as last November, there were deals made at as low as $600 psf to $800 psf.