City Gate receives healthy interest from buyers

PropertyGuru

22 July 2014 at 4:13 am

City Gate, a mixed development along Jalan Sultan, was launched over the weekend at prices which are lower than expected, said media reports.

With as many as six real estate agencies marketing it, City Gate saw about 80 residential units and 62 commercial units snapped up during its launch over the weekend.

This works out to around 50 percent of the 150 residential units released and two-fifths of the commercial units.

A spokesperson revealed the residential units were sold at an average price of over $1,800 psf, while prices of commercial units ranged between $2,900 and $6,200 psf.

Jointly developed by Fragrance Group and World Class Land, the 30-storey project is located at 371 Beach Road featuring 311 apartments and 188 retail units.

Units available at City Gate range from 431 sq ft one-bedders to four-bedroom penthouses measuring 1,819 sq ft.

The a 99-year leasehold development also includes a three-storey shopping and dining podium, and will be connected by a sheltered bridge to the Nicoll Highway MRT station.

Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg

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