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The Linq @ Beauty World sells 96% of residential units in digital weekend launch - Business Times

Sun, Nov 15, 2020 - 4:16 PM

MIXED-USE development The Linq @ Beauty World sold 115 out of 120 apartments over the weekend, in a Covid-19-era, tech-enabled launch.

The project, at Beauty World MRT station, includes two floors of shops and a 20-storey residential block.

Units fetched between S$2,150 and S$2,200 per square foot on average, mainboard-listed construction group BBR Holdings said on Sunday.

The bulk of the apartments - which ranged from one- to four-bedders - went to Singapore citizens and buyers from the neighbouring Hillview, Dairy Farm and Upper Bukit Timah areas.

Said BBR chief executive Andrew Tan in a statement: "We kept the pricing sensitive and affordable, which manifested itself by the practical sell-out."

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BBR subsidiary Alika Properties bought what was then the Goh & Goh Building for S$101.5 million in 2017.

It snagged an en-bloc deal below the owners' original asking price of S$120 million for the 2,868.3 square metre freehold site in Upper Bukit Timah Road.

Meanwhile, Karamjit Singh, chief executive of digital booking platform provider Showsuite, noted: "Pre-Covid and conventional project launches (were) typified by massive crowd gatherings for on-the-spot balloting in tentages, waiting, queuing and signing on paper documents."

In contrast, the launch of The Linq @ Beauty World saw early remote balloting, scheduled appointments with buyers "and digital signing and payments which can even take place at the buyers' homes", Mr Singh said.

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