Another batch of units at Marina Bay Suites will be launched by the project’s developer on Thursday. However, prices have yet to be finalized, according to sources.
Unlike the initial batch of 90-odd units released late last year, these additional units are expected to be above the 46th level sky terrace in the 66-storey development.
Based on caveats lodged from January to early April 2010, units at the nearby Marina Bay Residences have transacted in the sub-sale market at $2,100 psf to $3,050 psf.
However, a 1,970-sq-ft three-bedroom-plus-study unit on the 46th floor of the project, which is expected to obtain Temporary Occupation Permit soon, was recently transacted at $3,500 psf.
Both projects, which have a 99-year leasehold tenure, are being developed by a consortium controlled by Hongkong Land Holdings, Cheung Kong Holdings and Keppel Land.
Mr. Joseph Tan, residential executive director of CBRE, which is one of the marketing agents for Marina Bay Suites, notes that owners of high-floor, prime facing units in the project are currently asking for prices ranging from $3,800 psf to $5,600 psf.