SINGAPORE (EDGEPROP) The 87-unit NEU at Novena located at Moulmein Rise previewed over the weekend of Oct 12-13. The preview drew a crowd of more than 400 visitors. The 17-storey, boutique development is jointly developed by listed property developer Roxy-Pacific Holdings, niche property developer Macly Group, and construction firm Lim Wen Construction.
The freehold development is just across the road from Novena MRT station, which is linked underground to three malls, namely Velocity at Novena Square, Square 2 and United Square.
Units are a mix of two- to four-bedroom apartments, including three-bedroom dual-key units and four-bedroom duplexes. Sizes range from 549 to 1,302 sq ft. Prices will start from $1.35 million for a two-bedroom unit or from $2,450 psf, says Teo Hong Lim, executive chairman of Roxy-Pacific Holdings.
According to Teo, NEU at Novena is currently “the only new launch that is right next door to HealthCity Novena”. The project is located in prime District 11 and has a freehold tenure.
Directly across the road from NEU at Novena is the 417-unit Soleil@Sinaran, a 99-year leasehold condo that was completed in 2011. The latest transaction at Soleil@Sinaran was for a 1,098 sq ft, three-bedroom unit on the 31st storey that fetched $2.08 million ($1,894 psf), according to a caveat lodged in July. Meanwhile, the last transaction of a one-bedroom unit was in March this year, and it was for a 581 sq ft unit on the 13th floor that changed hands for $1.05 million ($1,806 psf).
NEU at Novena is scheduled for launch on Oct 19. According to Bruce Lye, managing partner of SRI, based on the indicative prices at NEU at Novena, the project presents “good value and upside potential”.
SRI is jointly marketing NEU at Novena with ERA Realty Network, Huttons Asia and PropNex Realty.