Having rolled out its first condo project, Infini in East Coast, last September, Singapore-listed property developer International Dragon has made a decision to offer six chosen three-bedroom units at particular prices starting from $1.399 million or $1,800 psf below a”Spring Promotion”, based on COO Gary Tan.
The two partners submitted a winning bid of S$491.3 m, which translates to S$788.31 psf ppr for the Clavon condominium site.
This past year, two units in Infini in East Coast were offered while the job was started — a 754 sq ft, two-bedroom unit went to get a net cost of $1.44 million ($1,908 psf) in October, while a 1,066 sq feet, three-bedroom unit attained a net cost of $2.02 million ($1,896 psf) in September.
The 36-unit, boutique growth sits on a 27,092 sq feet, freehold website, and also is a redevelopment of the previous Katong Omega Apartments along East Coast Road. Global Dragon, previously TMC Education Corp, had bought the website en bloc for $46.31 million in April 2018.
“The place is exactly what drew us into the website,” says Koh Kian Soo, executive chairman of International Dragon. “It’s very near the fantastic schools and the comforts in the Katong area.”
Infini in East Coast is situated within 1km radius of sought after primary schools like Tao Nan and CHIJ (Katong) Primary School. It’s also close to shopping malls like Parkway Parade and 112 Katong, in addition to the renowned eateries from the Joo Chiat-Katong region. Additionally, it’s nothing but a 15-minute driveway into the CBD, Marina Bay and Jewel Changi Airport. It’s also available to the East Coast Park and the shore via the playground connectors.
Therefore, units at Infini in East Coast are a mixture of 2 -, three-, and four-bedroom flats, with sizes ranging from 753 into 1,722 sq ft. Of the 36 units, 16 are dual-key three- and four-bedroom units, that appeal to both shareholders and multi-generational households, he adds. Additionally, there are twoto four-bedroom penthouses inside the evolution.
Koh emphasises the units will be fitted using top notch materials, appliances and finishes, for example, marble floors for the dining and living room, Fermax smart house system, De Dietrich kitchen appliances, Duravit and Hansgrohe sanitary fittings and sanitaryware, in addition to Fascina UPVC windows and sliding glass doors to decrease heat and noise penetration.
The prior TMC Education Corp was created in 1981 as a private education provider and is recorded on the Catalist board. Additionally, it offered a 51% stake into tycoon Koh Wee Meng, executive chairman and CEO of recorded real estate development and hotel chain operator, Fragrance Group, that triggered a compulsory takeover of TMC Education when his bet attained 53.05%.
Back in March 2018, TMC Education has been renamed International Dragon and its chief activities changed from schooling to land investment and development. Koh’s personal investment vehicle, JK Global Assets, retains a 73.18% stake in Worldwide Dragon, according to the organization’s FY2019 report.
Besides Infini in East Coast, Global Dragon has been redeveloping a five-storey, 180-room resort at Telok Blangah Road. The resort is going to be set up as a”tourist-class resort”, based on Koh. International Dragon has also developed a detached home on Lorong Mydinoff Sims Avenue East, and yet another detached home on Jalan Demakoff Upper Changi Road.
The website will be redeveloped to nine landed possessions, namely 1 bungalow, two semi-detached homes and six terraces.
The team also holds 999-year leasehold strata office components — 21 of these — in Peninsula Plaza on North Bridge Road, situated just across the street from City Hall MRT Interchange Station. The components are 90% rented. Based on Koh, the team is considering divesting these components.