ARTRA, the fifth and possibly the second last major private non-landed residential development to be launched in the first half of 2017, is set to be unveiled to the public on 29th April 2017. It will be the 2nd city fringe project and also the 2nd mixed use development to be launched this year after Park Place Residences. Developed by FEC Skyline Pte Ltd (aka Tang Skyline Pte Ltd), ARTRA is located along Alexandra View and sits on a 99-year leasehold site with a land area of 442,970 sq ft. It will offer a total of 400 residential units, comprising spacious and regular-shaped 2-, 3- and 5-bedroom units. The property boasts a full-sized swimming pool, tennis court, gym, function rooms, retail shops, food and beverage outlets, as well as a childcare centre. For more information on the development, please refer to Annex 1- Property Factsheet.
Nestled within the Alexandra / Redhill residential enclave, ARTRA is in close proximity to amenities such as shopping centres, schools, a sports complex and transport nodes. Located in the city fringe, the project is minutes away from the Central Business District (CBD) and is well-connected to other business clusters, including the one-north business cluster, Alexandra Precinct and Jurong Lake District – earmarked as Singapore’s second Central Business District. Renowned educational institutions are also located in the vicinity, such as CHIJ (Kellock) Primary, Crescent Girls Secondary, Singapore Polytechnic, the National University of Singapore (NUS), as well as international schools such as ISS International School and Global Indian International School.
The 50 per cent sales result of Park Place Residences @ PLQ marks the 3rd positive outcome for new private non-landed projects launched in 2017. Indeed, sales achieved and the high average selling prices of Park Place Residences provide further signs that well-located, attractively designed and appropriately specified projects are highly sought after. It also lends additional evidence to the view that the private residential market is in recovery mode.
Based on caveats recorded by REALIS, the total number of private non-landed residential new sales reached 2,943 units in Q1 2017, reflecting an increase of 1,595 units sold as compared to Q1 2016. The year 2016 witnessed 7,972 new sale transactions, 7.2 per cent higher than that seen in 2015 (7,440 units). With Seaside Residences set to be formally launched next weekend and ARTRA the following weekend, the reaction to these projects will be highly anticipated as a guide to what will happen next, and whether the market is well and truly on the path of recovery.
The developer of ARTRA, FEC Skyline, is confident that the project will be warmly welcomed by potential home buyers looking for an upgrade in living experience. The showflat of ARTRA, located along Prince Philip Ave, will be open to the public on 15th April 2017. Interested home owners will have the opportunity to view the show units and express their interest via the various appointed marketing agencies, Knight Frank, Savills and PropNex Realty. Official sales for ARTRA is anticipated to commence on 29th April 2017.