One Holland Village Residences achieves 80% take-up rate

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One Holland Village Residences, a 296-unit condominium along Holland Village Way, has experienced a positive sales result of 80%, or 237, according to a Jan 11 press release by Far East Organization. This 99-year leasehold project is part of the One Holland Village mixed-use development, which is a joint venture between Far East Organization, Sekisui House and Sino Group.

The project comprises of residential, serviced apartment and office components, as well as community spaces. Michelle Tang, Deputy Director of Residential Sales at Far East Organization commented “Our buyers continue to be drawn towards One Holland Village’s central locality, attractive and unique proposition, and good use of thoughtfully curated spaces that are purposefully designed for community and recreational use.”

The majority of the buyers of One Holland Village Residences are locals, hailing from Districts 10 and 11, while Americans make up the largest foreign buyer demographic, followed by Indonesian and Chinese buyers. In addition, 35% of the buyers purchased units for investment purposes.

When the project was launched for sale in 2019, it comprised three offerings: Sereen, Leven and Quincy Private Residences. Sereen, a 34-storey tower with 248 apartments made up of one- to three-bedders measuring 484 to 1,098 sq ft, has achieved an average price of $2,649 psf, with 94% of the one-bedders already sold.

Leven is a collection of 21 apartments spread across low-rise three-storey blocks, comprised of two-bedders between 807 and 1,087 sq ft. Nineteen units have been sold at an average price of $2,909 psf.

Quincy Private Residences feature 27 luxury apartments made up of three- and four-bedroom units between 1,238 and 3,358 sq ft, and a sole penthouse of 3,488 sq ft. To date, the penthouse and Senja Close EC all four-bedroom units have been sold, including a four-bedder on the 27th floor that fetched an impressive $7.15 million ($3,426 psf). Units sold at Quincy Private Residences achieved an average price of $3,233 psf.

The retail component of One Holland Village – One Holland Village Shops – has achieved an expected occupancy of 82%, based on committed leases and leases pending final execution. Across three storeys, 44 tenants have been secured for the mall, including Lil’ Kinki by Kinki Restaurant & Bar, Pulse TCM, Caffeine Xpress, Plain Meredith by Baker’s Brew and anchor tenant CS Fresh.

One Holland Village Shops is anticipated to open by the end of the year, with One Holland Village Residences targeted for completion by end-2024. With such positive results, the mixed-use development looks set to be a thriving destination.