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Over 60% of Penrose condo units sold over the weekend

HONG Leong Holdings sold 341 units of its 566-unit Penrose condominium over the weekend as at 5pm on Sunday.

Nearly 85 per cent of buyers were Singaporeans and the rest were Singapore permanent residents and foreigners. Keen interest was also seen from HDB upgraders across areas islandwide, said Hong Leong is a media statement on Sunday.

The staggering sales numbers were the result of timing and sensitive pricing, said Betsy Chng, head of sales and marketing at Hong Leong.

"Given the current climate, it is crucial to identify the right timing and price our projects thoughtfully according to market sentiments and each project's value that includes location, design, and quality interiors," she said.

Penrose, which is located at Sims Drive in District 14, is a 99-year leasehold condominium jointly developed by Hong Leong and City Developments Limited. The development comprises five 18-storey towers housing 566 units. Sizes of one-bedroom units start from 474 square feet (sq ft), 646 sq ft for two-bedroom units, 936 sq ft for three-bedroom units, and 1,389 sq ft for four-bedroom units.

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Prices start from S$788,000 for a one-bedder, S$943,000 for a two-bedder, S$1.33 million for a three-bedder, and S$2.11 million for a four-bedder.

In terms of per square foot (psf), one-bedroom units start from S$1,662 psf, two bedroom units from S$1,460 psf, three-bedders from S$1,421 psf and four bedroom units from S$1,519 psf.

The group said that the take-up was good across all unit types. The balloting process took place virtually on Friday between the developer and its appointed property agencies PropNex Realty, ERA Realty, Huttons Asia, and Edmund Tie.

The recorded balloting system was held to determine the queue sequence of buyers for booking day. Buyers were then called by their agents according to their balloted sequence, and the booking of units commenced on Saturday via Zoom.

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