Condo adds luxury fittings to woo buyers

A Luxury condominium here is fitting some units with high-fashion brands Kenzo and Fendi, in a bid to attract more buyers as it relaunches this weekend.

The Lumos, a 53-unit completed condo at Leonie Hill, first came on the market here in 2007.

Since then, 18 units have been sold. But the developer halted sales in recent years to wait for the property market to pick up and review marketing strategies. Now, the project is back on the market at what the developers deem more 'attractive' prices.

In a collaboration between the developers - Koh Brothers Development and Heeton Land - and the brands, one unit at The Lumos will be furnished with Fendi casa furniture and another unit with Kenzo maison trimmings. They will feature imported items such as sofas, beds, tables and rugs.

The Lumos, when first launched, was the first condo to have bathroom windows made of liquid crystal glass, allowing users to change the glass from frosted to clear using a switch, among other things.

In addition, both brands contributed interior design ideas for the two units, which will be ready in July.

Mr Danny Low, chief operating officer of Heeton Holdings, estimated that prices of the two exclusive units could be between $5 million and $7 million. Although the developers declined to say if they had cut prices, it is likely that the figure will be more attractive than previously, given that the units now come with the furnishings.

Mr Koh said market sentiment in the mass market will remain resilient but the high-end sector will be slow, in part due to tough cooling measures which affect foreign investors more acutely.

It is not the first time condo units have been sold fully decked out with luxury trimmings. Last year, luxury homes developer SC Global said it was collaborating with French brand Hermes to do up a five-bedroom unit at The Marq on Paterson Hill.

Other condos are also stepping up their sales pitch. Paterson Suites, for instance, offered a 5 per cent guaranteed rental yield a year at its relaunch last week.

Source: The Straits Times – 25 April 2012