New Residential Project in Singapore Opens for Previews
City Developments Limited (CDL), led by billionaire Kwek Leng Beng, is set to launch its latest residential project, Lucerne Grand, featuring a total of 570 units. The development’s previews are scheduled to commence soon, with enticing options for potential homeowners.
Overview of Lucerne Grand
This impressive residential complex includes five towers, each standing 17 stories high and located on Lakeside Drive. Each unit reflects modern living standards and convenience, appealing to both families and investors alike. The smallest available unit is a two-bedroom apartment priced from approximately S$1.5 million (around US$1.18 million). With a size of 624 square feet (58 square meters), the cost equates to S$2,401 per square foot (US$20,294 per square meter).
Unit Pricing and Features
For larger families or those seeking additional space, three-bedroom apartments begin at nearly S$2 million for an area of 883 square feet. Additionally, four-bedroom units are available starting at S$2.8 million for a more spacious layout measuring 1,152 square feet. This tiered pricing strategy allows prospective buyers to choose according to their needs and budget.
Location Benefits
Lucerne Grand is strategically positioned adjacent to the Lakeside MRT station, enhancing accessibility for residents. This prime location also integrates a mixed-use component that will feature commercial spaces such as supermarkets, shops, and various dining options on the ground floor.
The development benefits from proximity to significant business hubs like the Jurong Lake District—the largest business district outside of Singapore’s city center—as well as lifestyle attractions like Jurong Innovation District and Jurong Point Shopping Center.
CDL’s Market Standing
As one of Singapore’s premier property developers, CDL’s recent financial performance underscores its robust standing in the real estate market. In the first half of this year alone, the company reported an impressive net profit increase of over 230% year-on-year, totaling S$301.6 million (approximately US$237.5 million). Revenue also saw substantial growth at 61%, amounting to S$2.72 billion. This strong performance indicates not only the company’s resilience but also its ongoing commitment to delivering quality developments.
A Bright Future Ahead
The site for Lucerne Grand was secured by CDL through a government land sale last June for S$608 million (about S$1,132 per square foot based on plot ratio). Given the growing demand for residential properties in Singapore and CDL’s reputation as a reliable developer, Lucerne Grand is anticipated to attract significant interest from buyers.
Previews will begin shortly with sales bookings opening on October 3rd—an event that many in the property market are eagerly awaiting. For further details on this promising new development or other projects by CDL, visit here.
Source: Original Article
