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Singaporean property developer Chyau Fwu Group (CFG) is
targeting Indonesian buyers for its latest development on the back of
figures showing that Indonesian's account for about 33 percent of
overseas property purchasers in Singapore.
Senior executive Eddie Chow said Wednesday that the firm was hoping
that 50 percent of the buyers of its latest residential project, called
Parkview Eclat, would be Indonesians.
Citing government figures, CFG said that Indonesians were the largest
foreign buyers of property in Singapore last year, with most of the
others coming from the Middle East, Hong Kong and China.
Given this, the group is planning to launch its Parkview Eclat project,
which is believed to be one of Southeast Asia's most luxurious
residential developments, in Indonesia.
CFG is offering Indonesians the first opportunity to purchase
residential units in Parkview Eclat, which is located in Grange Road,
about a five-minute walk from the country's famous shopping street,
Orchard Road.
"We are preserving an air of exclusivity for these buyers for all 35
limited edition apartments," Chow said.
He said that the construction cost of the building was between S$500
(US$327.78) per square foot (psf) and S$600 psf, well ahead of
Singapore's average of around S$300.
Built on 12.2 hectares, the exclusive apartments will range in size
from 3,000 square feet, or about 333.33 square meters, up to
10,000-square-feet "super-penthouses".
The development is expected to be finished by mid 2009.
An exhibition on the Parkview Eclat development will be held in the
Egonia Room at the Hotel Mulia Senayan on March 23-25 and on March
31-April 1.
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