22 Jan '13, 12pm

Alexandra Central draws crowds of retail investors | CommercialGuru Singapore

In the wake of the new measures imposed on the housing market, investors have turned to commercial properties. At the launch of Alexandra Central (pictured ) yesterday, interested parties flocked to buy retail units, with only one of the 115 strata retail units released left unsold as of yesterday night, reported The Straits Times . The mixed development drew at least 20 buyers for every shop space, said reports. In fact, a shop space on the third storey was said to have a queue of 155 interested buyers. “I had strong confidence in the project but didn't expect it to do so well,” commented Raymond Chia, Chief Executive of Chip Eng Seng Group. “We initially planned a soft launch on Wednesday but because the response was so overwhelming we decided to bring it forward to Monday,” Chia added. Units were going for S$4,000 psf to S$8,000 psf, noted a spokesman from CEL Developme...

Full article: http://www.commercialguru.com.sg/property-management-news...

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