Sloane Residences, a development by TSky Development, has achieved its temporary occupation permit (TOP) on Nov 18.
TSky Development is a joint venture (JV) between SGX-listed Tiong Seng and Ocean Sky International, in which Tiong Seng holds a 60% stake.
The project was successfully delivered by Tiong Seng’s wholly-owned subsidiary, Tiong Seng Contractors Pte Ltd (TSC).
Sloane Residences is a freehold 12-storey condominium located along 17 Balmoral Road in prime District 10.
The condominium has a total of 52 units that range from two-bedroom units to four-bedders measuring between 743 sq ft to 1,496 sq ft. It is located close to several public transportation networks including Stevens MRT on the Downtown and Thomson-East Coast lines, as well as Newton MRT on the Downtown and North South lines. Sloane Residences also enjoys close proximity to prestigious schools such as Anglo Chinese School (Primary) and Singapore Chinese Girls School, which are within 1km of the project.
Since its TOP, nearly 90% of the 52 units have been sold with prices ranging from $2,677 to $3,366 psf, and averaging at $2,907 psf.
Of the buyers, 54% of them are Singaporean, while foreigners accounted for the remaining 46%.
“We are pleased with the strong response received for Sloane Residences; it is a testimony to our brand of quality and excellence which has been associated with all of Tiong Seng’s projects for the last 63 years,” says Pek Zhi Kai, executive director of Tiong Seng Holdings Limited.
He adds: “Despite the difficult challenges of Covid-19 that has adversely affected the construction industry, we have continually strived to ensure consistent quality construction and thoughtful design for this project, and will continue unrelentingly to deliver on all our current projects and look forward to procuring more projects in the new year.”
Shares in Tiong Seng closed flat at 9.6 cents on Dec 22.
