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Real estate developer Bukit Sembawang Estates Limited on Friday said it has sold 25 out of the 39 units at the Luxus Hills (Contemporary Collection) following private previews.

The Contemporary Collection is the final phase of Bukit Sembawang’s 999-year leasehold landed development in the Seletar Hills estate.

The 25 landed homes sold include inter-terraces, corner terraces, semi-detached houses and a villa.

Prices started from S$3.3 million for inter-terraces. The average selling price was S$2,060 per square foot, Bukit Sembawang said.

The mainboard-listed firm said it saw “strong interest” from buyers at the previous phase of the development, Luxus Hills (Signature Collection), last August.

Previews for the Contemporary Collection will end on Friday, and show houses will be closed. The remaining units will be released in phases.

Bukit Sembawang offered deferred payment schemes for the Contemporary Collection, seeing as they were “extremely well-received” for the Signature Collection, the company said. About 75 percent of buyers opted for them during the preview weekend for the Signature Collection.

One of the schemes allows buyers to move in immediately with a 20 percent down payment, while another allows them to reserve their home of choice with a 10 percent deposit.

Such deferred payment schemes give buyers more flexibility in buying a landed property, and also cater to homebuyers who are waiting for proceeds from the sale of their properties or are undergoing collective sales, Bukit Sembawang added.

The 39 houses at the Contemporary Collection comprise 30 inter-terraces, six corner terraces, a pair of semi-detached homes, and one villa.

The five-bedroom units span land sizes ranging from 150 to 566 square metres (sq m), with a built-up area of 344 to 560 sq m.

Luxus Hills is near Greenwich V, NEX, AMK Hub, Waterway Point, Compass Point and Seletar Mall.

Educational institutions in the vicinity include Catholic High School, CHIJ St Nicholas Girls’ School, Ai Tong School, Rosyth School, Nanyang Junior College and Nanyang Polytechnic.

Following the launch of the Contemporary Collection landed homes, Bukit Sembawang will now focus on developing its 99-year land parcels at Nim Road, also in the Seletar Hills estate.

Shares of Bukit Sembawang were down S$0.02 or 0.4 percent to S$4.55 as at 3.23pm on Friday, after the announcement.

Source: The Business Times