Singapore Property News

1 June 2011 No Comment Print This Post  Email This Post

INDUSTRIAL property developer Global Orion Properties is no stranger to the Singapore property scene, but it is making its debut in the residential market here with its The Viridian project.

The developer has chalked up residential projects in Australia and Indonesia through its affiliated companies, but decided against jumping head-first into the residential sector here.

In an interview with The Straits Times, Mr Satia Narjadin, director of Global Orion Properties, said: 'We thought we could improve on what was already available in the industrial sector and that's why we decided to bring in design elements and architectural finishes that were slightly bolder. We want our buyers to be proud of the environments that they are living or working in.'

Located in Balestier, the 23-storey freehold development will consist of 108 apartments, ranging between 500 and 3,300 sq ft in size. A 506 sq ft one-bedroom apartment is priced from $785,000.

The project is expected to obtain its temporary occupancy permit (TOP) in 2015. Preview sales for the project start today.

Global Orion Properties is already working on its second residential project, in Hougang's Jalan Naung. The project is still in the development stage but Mr Satia is hoping to launch it in the second half of this year.

But the company said after establishing a track record of selling out 100 per cent of its industrial units, it is not losing sight of its industrial properties and is even looking to venture into the commercial property sector.

Mr Satia said one of the challenges facing newer players such as Global Orion Properties is the fact that more established developers have a presence in almost all tiers of residential property.

'At the end of the day, if you plan and design it properly and you have the discipline to ensure that projects remain financially sound… you will always be able to carve out a niche of your own,' he said.

Source: Straits Times News by Cheryl Lim

See detailed information of The Viridian here

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