Kent Ridge Hill Residences sold nearly half its units at the official launch

Oxley Holdings, a local property developer, says that at the official launch of Kent Ridge Hill Residences last weekend, almost half of its 250 units were sold.

Oxley announced in a press release issued on Tuesday that 116 units were sold at the five-storey building along South Buona Vista Road on Saturday and Sunday.

The average price per square foot of the sold units was S$1,700. Eighty percent of the units were one-bedrooms, two-bedrooms and one-bedroom with a study.

The remaining 20% were made up of three-bedroom apartments, five-bedroom homes and strata-landed properties. Singaporeans made up four out of five buyers, while the remaining were permanent residents or foreigners.

Kent Ridge Hill Residences is a 99-year Leasehold Development that sits on 319,250 sq. ft. Oxley said that it is only an 8-minute walk from Pasir Panjang Station MRT, nestled in a residential enclave. It will consist of a total 548 units, including 498 private condominiums and 50 strata-landed houses.

Oxley’s executive chair and chief executive officer Ching Chiat Kwong said that residents of Kent Ridge Hill Residences would enjoy a luxurious, exclusive and tranquil lifestyle.

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He added, “With this launch we are one step nearer to our sales goal of 2,000 units for 2018”.

Oxley Holdings announced Monday that its first-quarter net profits fell by 83 percent year-on-year, to S$8.6 million.

The revenue was down 45 percent at S$170.3 Million due to lower revenues from UK and Singapore. The earnings per share for three months ending Sept 30 dropped to 0.2 Singapore cents, from 1.26 Singapore cents previously.

Source: https://www.businesstimes.com.sg/property/nearly-half-kent-ridge-hill-residences-units-sold-official-launch