SC Global sees Marq fetching $4,000 psf
BOUTIQUE property developer SC Global Developments yesterday said that it expects apartments in the first phase of its just-launched The Marq on Paterson Hill to fetch an average of $4,000 per square foot (psf).
The absolute prices for the units will work out to $12-30 million each, SC Global said. The company is now marketing about one-third of the 66-unit luxury development through private previews, which are ‘by invitation only’.
The average price for the first phase is ‘reflective of the unique and exquisite finishing and detailing of the apartments’, SC Global said in a statement. ‘The Marq is the most luxurious and ambitious of SC Global’s developments to date.’
Located on the top of Paterson Hill, The Marq has two 24-storey towers. One of the towers will consist of 21 spacious 5-bedroom apartments averaging 6,195 square feet, with each unit spread out over an entire floor.
The other tower will feature 42 relatively smaller 4-bedroom apartments averaging 3,000 square feet. The development also has three penthouses, which are not being sold at the moment.
‘We are excited about the debut of The Marq,’ said SC Global chief executive Simon Cheong. ‘It has been eagerly awaited by the market since we announced the development concept a few months ago and we have been meticulously refining the plans to perfect the details.’
SC Global first announced plans for The Marq in January this year, and Mr Cheong said then that homes in the project would be priced ‘north of $3,000 psf’.
The developer’s stock climbed 10 cents to close at $6.25 yesterday. The company’s share price has climbed 143.2 per cent since the start of the year.
Source : Business Times - 21 Jun 2007
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