Soilbuild Group Holding’s latest condominium project, Montebleu, is sold out, with an overseas institutional investor acquiring 37 out of the 151 units of the project in Novena.

The freehold, 34-storey development at Minbu Road attracted local buyers as well as overseas buyers and investors.

“Considering the many developments available in the Novena district, the take-up rate has been excellent. We achieved average prices of nearly $1,000 per square foot (psf), with some units reaching a high of $1,250,” said Mrs Kellie Liew, executive vice-president of projects at HSR International.

The 37 apartments acquired by the overseas institutional investor were sold at an average price of $1,050 psf.

“We are pleased that our latest and largest project, Montebleu, has received such strong response from overseas and local investors seeking exclusive projects in choice locations,” said Mr Low Soon Sim, executive director, Soilbuild.

Sitting on a 58,673-sq-ft plot, Montebleu is set to be one of Novena’s tallest landmarks.

It has one- to five-bedroom apartments, including executive suites and three penthouses.

These units range in size from 570 sq ft to 2,896 sq ft.

The apartments come with balconies, bay windows, dry and wet kitchens, designer wardrobes, en suite baths and quality sanitary ware.

This is the second development Soilbuild has fully sold this year.

The high-end One Tree Hill Residence on Grange Road, was sold out at the beginning of this year.

Source: Weekend Today, 19 May 2007