In a major boost for City Developments Limited (CDL) 350 units out of 450 released units of The Tapestry have been picked up by interested buyers last weekend.
The average cost for these units stood at S$1,310 per square foot.
The CDL team were elated about the development and said that 70% sale is a brilliant take-up rate for the new launch property considering that most of the sales have been one one-bedroom and two-bedded apartments.
The Tapestry @ Tampines has a leasehold of 99-year and comprises of 861 units which are spread over seven blocks of 15 storeys towers.
The sizes of the apartments range from 441 sq. ft. for one-bedroom units all the way up to 1,765 sq. ft. for the spacious five-bedroom apartments that have dual key including a study.
The one-bedder units start at S$596,000 with the two-bedrooms and three-bedroom units starting from S$796,000 and S$1.15 million respectively.
As far as the prices for the spacious units are concerned the four-bedroom units start at S$1.65 million while the five-bedroom units have been priced from S$2.1 million.
The News reported last Sunday that CDL has decided to release 411 remaining units progressively with the project expected see the work get over in 2021.
The builders have stated that 76% of buyers at first launch are Singaporeans and the rest are permanent residents and foreigners from China, Hong Kong, India, Malaysia and Indonesia.
Singaporean sporting icon and paralympic swimmer Theresa Goh is among the owners of a premium two-bedroom apartment at the property and said she and her parents would move along with their four cats.
The enthusiasm among buyers was expected as GM of CDL Group Chia Ngiang Hong had said on March 15 that they had received encouraging enquiries for the project from prospective customers.
He had expected good take-up from investors, first time home buyers and those looking to upgrade their lifestyle back then.
Bellevue Properties, a subsidiary of City Developments Limited has developed the property located on the Tampines Street 86.
Interestingly Tapestry Condo is being rated suburban Singapore’s first premium condo to be launched in 2018 and shall offer more than 50 facilities to the residents which include a childcare centre, 24/7 gym and 100m infinity pool.
Also, the owners can opt for the Smart Voice Assistant that will allow them to remotely control all their smart home equipment.