By Sharen Kaur
sharen@mediaprima.com.my
Published in NST on June 13, 2013
KUALA LUMPUR: The developers of Singapore's S$4 billion (RM9.96 billion) Marina Bay Financial Centre (MBFC) are offering Malaysians a chance to own apartments, priced between S$6 million and S$10 million each, at the 66-storey Marina Bay Suites.
Thomas Tan, head of residential marketing at Raffles Quay Asset Management Pvt Ltd (RQAM), said Malaysians should take advantage of this opportunity as the apartments are the last few available.
The Marina Bay Suites is part of MBFC, which opened in 2006. It is the last product offering within the development.
Marina Bay Suites comprises 221 units of three- and four-bedroom apartments and three penthouses.
The company, however, is only offering 23 units of the four-bedroom apartments and two penthouses, which are worth S$50 million collectively.
This is because RQAM, which was set up by the developers to market and manage MBFC, has been releasing the units progressively since 2011.
The company has so far sold 89 per cent of the units with Singaporeans buying half of them. The rest were taken by foreigners, with Malaysians having purchased 30 units, Tan said.
MBFC, which will be completed soon, is a joint development by Cheung Kong (Holdings) Ltd, Hong Kong Land and Keppel Land Ltd.
It comprises three office towers that are under a long-term lease, two residential blocks, namely Marina Bay Suites and Marina Bay Residences, and a mall.
"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," Tan said yesterday.
Tan said property buyers are attracted to MBFC because of its water frontage and location. MBFC is located within the 360ha Marina Bay development.
He said these features have led to property prices in Marina Bay Residence increasing since its launch in 2006.
Marina Bay Residence offered 428 apartment units that were sold out within three days of launch at around S$1,900 per sq ft (psf).
"The resale market for the units has breached S$4,000 psf," Tan said.
sharen@mediaprima.com.my
Published in NST on June 13, 2013
Thomas Tan, head of residential marketing at Raffles Quay Asset Management Pvt Ltd (RQAM), said Malaysians should take advantage of this opportunity as the apartments are the last few available.
The Marina Bay Suites is part of MBFC, which opened in 2006. It is the last product offering within the development.
Marina Bay Suites comprises 221 units of three- and four-bedroom apartments and three penthouses.
This is because RQAM, which was set up by the developers to market and manage MBFC, has been releasing the units progressively since 2011.
The company has so far sold 89 per cent of the units with Singaporeans buying half of them. The rest were taken by foreigners, with Malaysians having purchased 30 units, Tan said.
MBFC, which will be completed soon, is a joint development by Cheung Kong (Holdings) Ltd, Hong Kong Land and Keppel Land Ltd.
It comprises three office towers that are under a long-term lease, two residential blocks, namely Marina Bay Suites and Marina Bay Residences, and a mall.
"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," Tan said yesterday.
Tan said property buyers are attracted to MBFC because of its water frontage and location. MBFC is located within the 360ha Marina Bay development.
He said these features have led to property prices in Marina Bay Residence increasing since its launch in 2006.
Marina Bay Residence offered 428 apartment units that were sold out within three days of launch at around S$1,900 per sq ft (psf).
"The resale market for the units has breached S$4,000 psf," Tan said.
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