TMW Maxwell is expected to start at prices of $3,165 per square foot, while Phoenix Residences will have prices starting from $1,688 per square foot. These projects have distinct positioning and favor local buyers, which is likely to be well-received in the market.
TMW Maxwell, a 99-year leasehold mixed-use development, is a joint venture by CEL Development, SingHaiyi Investments, and Chuan Investments. The project comprises a 20-story residential tower and 11 commercial units, totaling 324 residential units. Approximately sixty percent of the residential units are small suites known as "Flip/Switch," ranging in size from 44 square meters to 45 square meters. These units feature space-saving designs like foldable and hideaway double beds, balcony tables, and ironing boards.
In addition to these suites, the project offers one-bedroom and two-bedroom units, as well as dual-key and loft unit options. The unit prices are expected to start from $3,165 per square foot.
Lawrence Yap, CEO of SingHaiyi Group, noted that TMW Maxwell's strength lies in its unique product positioning and relatively lower prices. The project boasts comprehensive facilities and convenient amenities in the surrounding area, including supermarkets and subway stations, making it ideal for buyers working in the Central Business District, within walking distance to their workplace.
On the other hand, Phoenix Residences is located on Phoenix Road and developed by Qingjian Realty, offering a total of 105 units. The project provides a variety of options, ranging from two-bedroom to four-bedroom units, with prices expected to start from $1,688 per square foot.
According to analysis by Christine Wong of Bonar Properties, Phoenix Residences offers competitive pricing, estimated to be in the range of $1,700 to $1,800 per square foot. This price range is particularly attractive for homebuyers, considering that the average selling price of new private residential units outside the Central Area has already exceeded $2,000. This pricing strategy is anticipated to result in a strong sales performance.
Downtown Bugis has gradually become a hub for high-end private residences in recent years. With the latest revisions to the Urban Redevelopment Authority's master plan, the areas around Maxwell Road will be transformed into a commercial and residential zone, further enhancing the development potential of the region.
The launch of these two projects enriches the choices available in the local real estate market, catering to the diverse needs of buyers. TMW Maxwell and Phoenix Residences each offer unique advantages and appeal, making them prime candidates for local buyer preference.
