BT : SC Global sees Marq fetching $4,000 psf - 20 Jun 07

[Daniel Leong]

Published June 21, 2007
SC Global sees Marq fetching $4,000 psf
By UMA SHANKARI

BOUTIQUE property developer SC Global Developments yesterday said that it
expects apartments in the first phase of its just-launched The Marq on
Paterson Hill to fetch an average of $4,000 per square foot (psf).

Lofty heights: Located on the top of Paterson Hill, The Marq has two
24-storey towers. One has 21 5-bedroom apartments and the other, 42
4-bedroom apartments

The absolute prices for the units will work out to $12-30 million each, SC
Global said. The company is now marketing about one-third of the 66-unit
luxury development through private previews, which are 'by invitation only'.

The average price for the first phase is 'reflective of the unique and
exquisite finishing and detailing of the apartments', SC Global said in a
statement. 'The Marq is the most luxurious and ambitious of SC Global's
developments to date.'

Located on the top of Paterson Hill, The Marq has two 24-storey towers. One
of the towers will consist of 21 spacious 5-bedroom apartments averaging
6,195 square feet, with each unit spread out over an entire floor.

The other tower will feature 42 relatively smaller 4-bedroom apartments
averaging 3,000 square feet. The development also has three penthouses,
which are not being sold at the moment.

'We are excited about the debut of The Marq,' said SC Global chief executive
Simon Cheong. 'It has been eagerly awaited by the market since we announced
the development concept a few months ago and we have been meticulously
refining the plans to perfect the details.'

SC Global first announced plans for The Marq in January this year, and Mr
Cheong said then that homes in the project would be priced 'north of $3,000
psf'.

The developer's stock climbed 10 cents to close at $6.25 yesterday. The
company's share price has climbed 143.2 per cent since the start of the
year.