The Hong Kong-based developer CK Asset Holdings has bet on the continued buoyancy of the luxury market as it prepares to launch Perfect Ten, its upcoming project for sale in December 19.

Perfect Ten will have 230 freehold apartments. These include 2-bedroom units spanning from 753-797 sq ft and 3-bedrooms ranging between 1,227-1,281 sq. ft.

The price ranges from S$2.5M for 2 bedroom units on lower floors up to S$2.9M for the ones on higher floors. Prices for 3-bedroom apartments range from S$3.9million on lower floors up to S$4.4million on higher floors. The price per square foot is approximately S$3,200 – S$3,700.

Starting from Dec 8, the sales gallery is open to public.

Perfect Ten will have twin towers of 24 stories, located on the site where City Towers used to be. City Towers, which was sold to CK Asset in 2019, via collective sale for S$401.9m or a land price of S$1,847 psf after development costs and charges.

Francis Wong of Property Enterprises Development, Singapore (linked to CK Asset), said: “We are optimistic about the demand for properties in 2022.”

The global economy will recover due to the increased vaccination rate and opening of borders. We will continue to monitor the economy and border policies of various countries, especially with the emergence the Omicron.

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Wong believes that the luxury market will gain more ground. He noted that the luxury market in Singapore continued to be hot and the demand for luxurious homes was steadfast.

Wong added that the demand for luxury homes is facilitated by the rise in incomes locally and the higher standard of living. Singapore continues to be a favorite among foreign buyers.

Wong said that investors and buyers may come from Hong Kong and China, as well as South-east Asia and South-east Asia.

CK Asset, backed by Hong Kong tycoon Li Kashing, has a significant portfolio in Hong Kong and China. It also has a presence both in Singapore and in the United Kingdom. 21 Borrett Road in Hong Kong’s Mid-Levels set a new record for luxury housing prices earlier this year.

It has also developed in Singapore projects like Stars of Kovan on Upper Serangoon Road and Thomson Grand, Upper Thomson Road. It was also involved in the development of One Raffles Quay and Marina Bay Financial Centre as part of a group that included Keppel Land.

Perfect Ten, which will be TOP by November 2025, has a “crystal-sky” private elevator and a clubhouse. It is only a 5-minute drive away from Orchard Road and has nearby schools like Anglo-Chinese Primary School, Singapore Chinese Girls’ school.

Source: https://www.businesstimes.com.sg/property/perfect-ten-bukit-timah-launch-sale-prices-starting-s25m