SingHaiyi Group, along with its joint venture partners KSH Holdings and Ho Lee Group, has achieved a significant milestone with the sale of 102 units at Soraduring the weekend of July 5-6. This impressive figure represents 23% of the total 440-unit, 99-year leasehold condominium located on Yuan Ching Road in the vibrant Jurong Lake District.

During the launch weekend, 320 units were made available to buyers, with the one-bedroom-plus-study units being the most popular, boasting over 80% sales. Two-bedroom and two-bedroom-plus-study units also saw substantial demand. According to Marcus Chu from ERA Singapore, one-bedroom-plus-study units (538 sqft) started at S$996,000, while two-bedroom units (646 sqft) were priced above S$1.305 million. Nearly 95% of the sold units were priced below S$2 million, as noted by Mark Yip from Huttons Asia.

The average selling price at Sora was S$2,160 psf. Ismail Gafoor from PropNex highlighted that this price is comparable to the adjacent Lake Garden Residences, which consists of 306 units. Launched last year, Lake Garden Residences sold 71 units on its first weekend at an average of S$2,120 psf. As of July 7, 2024, it has sold 141 units at an average price of S$2,127 psf.

Sora Condo and The Lakegarden Residences are both situated near the 90-hectare Jurong Lake Gardens, with Sora featuring a 300-meter frontage. Raymond Chia of SingHaiyi mentioned that more than half of the buyers are under 40, reflecting the ongoing rejuvenation of the Jurong Lake District and the confidence in Sora’s potential.

Another recent development in the Jurong Lake District is J'den, a 368-unit condominium redeveloped from the former JCube mall. This 99-year leasehold property is directly linked to the Jurong East MRT Interchange. J'den saw 88% of its units sold during its launch weekend last November at an average price of S$2,451 psf. Currently, 91% of the units are sold at an average price of S$2,459 psf.

Prior to J'den, J Gateway was launched in July 2013 with 738 units, selling almost all within the first month at an average price of S$1,467 psf. Resale prices for J Gateway units have now exceeded S$2,000 psf.

Ismail Gafoor of PropNex observed that interest in Sora came from beyond the Western region, with only 30% of buyers from Jurong and Clementi. Many were drawn by the development’s attractive views, amenities, and the appeal of the new urban hub in the Jurong Lake District.
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