New Project Info: The Viridian

Industrial developer Global Orion Properties has ventured into the residential arena with its 108-unit The Viridian in the Balestier area.

Units at the freehold project are priced at an average of $1,550psf, with overall prices starting from $785,000 for a one-bedroom unit.

The 23-storey The Viridian comprises mostly one- and two-bedroom units. Previews start today.

The development is Global Orion Properties’ debut residential project, and comes after it established a portfolio of contemporary industrial projects such as i-Lofts@Changi, Northstar@AMK, The Crescent @ Kallang and Meissa in Pasir Panjang in the last few years.

Satia Narjadin, director of Global Orion Properties, said that his firm has been exploring breaking into the residential market in Singapore for some time now.

“We actually have a lot of residential development experience, just not in Singapore,” he said.

A sister company of Global Orion Properties has built and sold homes in Australia and Indonesia.

But the expectations from homebuyers in Singapore are a lot higher, Mr Narjadin said. So the developer spent some time hunting for choice sites and studying the market.

The firm is building The Viridian on an industrial building at Jalan Ampas (off Balestier Road), which it bought in a collective sale in February 2010.

The Viridian is designed by Singapore-based architectural firm Ong & Ong Architects. True to the Latin origin of its name – which means “green”- the property will come with lush landscaping throughout to bring nature closer to residents.

Source: The Business Times

Choice site? We let you be the judge of that…

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Breaking News: Eunosville is now privatised!

The 330-unit Eunosville HUDC Estate has been privatised under the Land Titles (Strata) Act, with effect from June 1.

With the privatisation, the individual owners in the estate now own their respective strata units, as well as the common property such as the car parks and open landscaped areas, as tenants-in-common.

The Marine Parade Town Council will cease its responsibility in the management and maintenance of the common properties of the estate with immediate effect.

Privatisation of HUDC estates was announced in 1995 as part of the Government’s effort to meet the rising aspirations of Singaporeans to own private housing.

It also enables the lessees to have better control over the management of their estate.

Privatisation will proceed if lessees of at least 75% of the flats support it.

Source: The Straits Times

Hmm… next stop, en bloc…?

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