The Linq @ Beauty World sells 96% of residential units in digital launch

Singapore

MIXED-USE development The Linq @ Beauty World sold 115 out of 120 apartments over the weekend, in a Covid-19-era, tech-enabled launch.

The project, at Beauty World MRT station, includes two floors of shops and a 20-storey residential block.

Units fetched between S$2,150 and S$2,200 per square foot on average, mainboard-listed construction group BBR Holdings said on Sunday.

The bulk of the apartments - which ranged from one- to four-bedders - went to Singapore citizens and buyers from neighbouring Hillview, Dairy Farm and Upper Bukit Timah.

Said BBR chief executive Andrew Tan: "We kept the pricing sensitive and affordable, which manifested itself by the practical sell-out."

BBR subsidiary Alika Properties bought what was then the Goh & Goh Building for S$101.5 million in 2017.

It snagged an en-bloc deal below the original asking price of S$120 million for the 2,868.3 square metre freehold site in Upper Bukit Timah Road.

Other recent launches in the area have turned in a mixed showing.

Forett At Bukit Timah - a 633-apartment freehold project, jointly developed by Qingjian Realty and Perennial Real Estate Holdings, has moved 246 of the 300 units launched since August - according to Urban Redevelopment Authority (URA) data.

Meanwhile, leasehold Verdale in De Souza Avenue - a tie-up between China Overseas Land & Investment and CSC Land Group - has launched all 258 units since late September but sold just 44, the URA website showed.