CONSTRUCTION company KTC Group has made a foray into the property development business with its first project, Summer Scent, located at the junction of Hougang Avenue 2 and Upper Serangoon Road.
The freehold project, developed by KDC (Kovan) Development, comprises 16 units, of which six have been sold.
KDC Development’s director, Chua Lai Seng, is also the managing director and sole owner of KTC Group, according to an ACRA search.
Summer Scent comprises a mix of two-bedroom (between 581 sq ft and 1,711 sq ft) and three-bedroom units (between 1,065 sq ft and 1,905 sq ft).
Prices for two-bedroom units average some $1,200 psf. The two two-bedroom penthouse units (inclusive of family room, roof terrace and jacuzzi) are marketed at $1,088 psf.
Prices for three-bedroom units averaged $1,200 psf, with three-bedroom penthouse units (including study, family room, roof terrace, and jacuzzi) averaging $1,086 psf.
The company said the project should be completed by August this year.
KTC Group Holdings, which has interests in Singapore and Indonesia, has business units in earthworks, civil engineering and infrastructures, building, coal mining, and coal trading.
Separately, marketing agents are beginning to roll out their campaign for Sky Habitat, developed by CapitaLand Residential Singapore and Mitsubishi Estate Asia.
The project, which is located at Bishan Central, will probably be launched end-March to early-April, say agents familiar with the launch.
Designed by Moshe Safdie, the 99-year condominium project will have 509 units across two 38-storey towers. Buyers will have a choice of apartment types, namely one-bedroom-plus-study, two-bedroom, two-bedroom- plus-study, three-bedroom and four-bedroom units. Unit sizes range from 680 sq ft to 3,000 sq ft.
Source: Business Times – 8 March 2012