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SG The Glades launching soon: report

Property Here - Monday, August 19, 2013

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Property developer Keppel Land will launch more residential units in Singapore and China within the second half of 2013, according to research house Nomura. 

The Glades (pictured), a 99-year leasehold condominium project comprising 726 units is expected to be launched soon. Located in Tanah Merah, the development features one- to four-bedroom units and penthouses ranging between 500 sq ft to 2,500 sq ft. 

Tanah Merah MRT station which connects directly to Changi Airport and other parts of Singapore is within walking distance of the project. It is also well-connected to major expressways like the PIE and ECP.

Similarly, The Botanica in Chengdu and The Springdale in Shanghai will release more units during the second half to ride on the robust demand seen in 1H2013. 

Commenting on the outlook for the developer, Nomura said: “While the market may be concerned with potential write-down of Keppel Land’s residential land bank, our estimates suggest that any impact is likely to be limited, considering at least 46 percent of its land bank book value can be said to have been acquired at a relatively cheap cost.”

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@allproperty.com.sg