By Cecilia Chow/ EdgeProp Singapore|February 17, 2020 3:14 PM SGT
SINGAPORE (EDGEPROP) – Coronavirus concerns did not deter families from attending the public preview of OLA, the 548-unit executive condo (EC) located at Anchorvale Crescent in Sengkang. About 3,200 people visited the OLA sales gallery over the weekend of February 15-16.
Crowd at Ola sales gallery over the weekend of Feb 15-16 (Photo:EdgeProp Singapore)
The public preview featured a carnival-like atmosphere with dancers, stiltwalkers and jugglers, as well as live shows by local entertainment stars and football tips from coaches of Real Madrid Football Academy. In keeping with the Spanish theme of the EC, within the sales gallery is a display of porcelain figurines by Lladro, the eponymous Spanish company founded in 1953 by three brothers, and artwork by Spanish artist Eva Armisen.E-applications began on Feb 15 and will end on March 1. The e-applications for first- and second-time buyers will then be balloted by HDB. The results of the balloting will be made known in mid-March, and those with a ballot queue number will be given an appointment date and time to book their units, says Vincent Ong, director of Evia Real Estate, which is developing OLA jointly with Malaysian property developer Gamuda. They will also be among the first to visit the show suites, which are scheduled to be unveiled on March 19.
Computer balloting by HDB allows the developer to continue selling units in an EC project to second-timers without having to wait for a month after the 30% cap has been reached, explains Evia Real Estate’s Ong.
Stiltwalkers (pictured), jugglers and live entertainment shows were part of the carnival-like atmosphere at the public preview of OLA last weekend (Photo: Evia Real Estate)
“The last time, computer balloting [for an EC project] was done by HDB was for Lakelife,” relates Ong. Lakelife, a 546-unit EC in Jurong, was jointly developed by Evia Real Estate, BBR Holdings, OKP Land and CNH Investment.OLA is the fourth EC project that Evia Real Estate has been involved in over the past decade. Prior to Lakelife, Evia Real Estate jointly developed Watercolours, an EC project in Pasir Ris, with UE E&C and GPS Alliance; and Heron Bay at Upper Serangoon View, as part of a consortium with Ho Lee Group, See Hup Seng and CNH Investment. Expected to be completed by December 2023, OLÁ has a mix of two- to five-bedroom units including penthouses with sizes ranging from 775 to 1,722 sq ft. The market indicative price for OLA is said to be in the range of $1,120-$1,150 psf.
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