Hong Leong Group sells over $2.1 billion worth of new homes in 2020
HL Organization, that includes public developer CDL, HLHL, Hong Realty plus TID, has promoted 1thousand 3 hundred and 98 residential units, with total transactions worth $2.11 billion in 2020 (as of December 20th). In 2018, gross purchases via the group totaled up to 1.1K units ($2.2 billion) along with 1.5K units ($3.3 bil) in ’19.
The organization launched 2 housing plans in 2K20 — the 5hundred 66 units Penrose during September plus 376-unit The Avenir during January.
Penrose, a partnership linking Hong Leong Holdings as well as CDL, became the very popular apartment launched on 3rd quart ’20. Located along Sims Drive, it has subsequently marketed more than four hundred units, or 73percent from its sum 5hundred 66 units, giving a sum purchases value of $530.26 million.
The Avenir in RV is a partnership by HLHL, GuocoLand plus Hong Realty. Up till now, the project has already marketed 49 units, or 13% of the full three hundred and seventy-six units basing on to URA caveats recorded since 21Dec.
About 3/4 of the deals completed by Hong Leong Group were concluded following Jul’20, the grp document, adding in that there was a pent-up need immediately after the “CB”. In quarter 3 2020, it sold off 7hundred 28, or close to half of the total units offered in 2K20.
The majority of the domestic condos sold by the grp this year are from large scale market properties for example, Penrose, Piermont Grand, The Tapestry including Whistler Grand. Certainly there has also been a steady pick up in transactions of its high-class properties including Amber Park, Boulevard 88, The Avenir also South Beach Residences.
The team points out at the time of the “circuit breaker”, there was a 30% growth in online visitings all over City Developments’s homes Blvd 88, South Beach Residences as well as The Tapestry, along with HLHL’s projects for instance, The Avenir, The Jovell plus Midwood.
Moreover, a representative for HLH thinks that with more individuals operating from home, interesting and ecological concept ideas will likely gain interest since the local economy recovers following few months, given the supply of Covid-19 injections.
HL Group is launching two brand-new properties during 1st half of 2021, going ahead with TID’s 165 units One-North Eden inside of Area 5 along with City Developments’s 540-unit Irwell Hills Residences inside of District Nine.