Property group Roxy-Pacific Holdings will likely launch two freehold condominiums later this year. It told a results briefing yesterday that a development in Sea Avenue near Marine Parade named Straits Mansions and one in Jalan Eunos could be ready to go by the third or fourth quarter. Other upcoming new launch condo include Forest Wood while existing ones include Sturdee Residences and Gem Residences.
Executive chairman and chief executive Teo Hong Lim noted that the site at 26 Sea Avenue “has its attraction; (but) we don’t foresee many competitors”.
“Next to us is Marine Blue; their last few transactions were about $1,800 psf… so we could be in the $1,600 to $1,700 psf kind of pricing,” he said. Roxy-Pacific acquired the 19,474 sq ft site, which can yield 25 residential units, for $21.5 million in September.