Singapore Back to Real Estate News Homepage to RSS for this country

SG Property News

SG Marina Bay units target Malaysian buyers

Property Here - Tuesday, June 11, 2013

Share to:

By Nikki De Guzman:

Units at the 66-storey Marina Bay Suites (pictured) are reportedly being offered to Malaysian buyers at prices between S$6 million and S$10 million each.

According to Thomas Tan, Head of Residential Marketing at Raffles Quay Asset Management (RQAM), the units are the last few apartments available. Marina Bay Suites is part of the S$4 billion Marina Bay Financial Centre (MBFC) and is its last product offering.

Out of its 221 units, only 23 four-bedroom apartments and two penthouses will be offered by RQAM, a company set up by developers to manage and market MBFC. 

So far, the company has sold 89 percent of the units, with Singaporeans acquiring 50 percent of the units sold, while the rest were bought by foreigners.

Jointly developed by Cheung Kong (Holdings), Hong Kong Land and Keppel Land, the MBFC is set to be completed soon. It comprises a mall, three office towers and two residential blocks — the Marina Bay Residences and Marina Bay Suites.

“Some high net worth people in Malaysia and overseas are looking for trophy apartments in Singapore. We are upbeat on selling the remaining units within this year,” said Tan.

Image source: www.skyscrapercity.com



Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg