SingHaiyi sells 550 units at Grand Dunman best-selling project in 2.5 years
Grand Dunman, the 99-year leasehold condo located on Dunman Road in prime District 15, recorded an impressive 54.6% take-up rate on its launch weekend (July 15-16), as 550 units were snapped out of the 1,008 available. Averaging out at $2,500 psf, the condo is the fastest-selling project of 2023 thus far, and about 90% of the buyers were Singaporeans, with another 9% Singapore Permanent Residents and 1% foreigners.
SingHaiyi Group head of sales and marketing, Gary Lim, revealed that a good spread of units ranging from one-, two- and three-bedroom, as well as dual-key units, were sold. About 70% of units sold were priced around $3 million or below.
Ismail Gafoor, CEO of PropNex, said, “Grand Dunman’s exceptional performance makes it the best-selling project of 2023 in terms of number of units sold.” He further mentioned that the project’s size, with more than 1,000 units, was also one of its unique attractions.
Also echoing the success of the launch was Mark Yip, CEO of Huttons Asia. He said that Grand Dunman was the top-selling project since the 1,862-unit Normanton Park, which sold about 600 units on its launch weekend in January 2021. “This makes Grand Dunman the best-selling project in 2.5 years.”
Besides its mega-project status, Grand Dunman also had another major draw: its proximity to Dakota MRT station on the Circle Line. Just two minutes away, this feature was highly attractive to owner-occupiers and investors alike.
Ken Low, managing partner of SRI, also highlighted Grand Dunman’s other locational attributes such as its proximity to the CBD, the Old Airport Road Food Centre, Katong heritage area and Kong Hwa School, a famous primary school.
The strong sales of Grand Dunman resulted in a spill-over effect for the two other projects launched in District 15 earlier this year: the 638-unit Tembusu Grand in April and the 816-unit The Continuum in May, Low added.
Residents of Orchard Condo also have access to a wide range of social amenities. Several healthcare and educational institutions are located in the vicinity, providing their services without needing to venture too far. Additionally, plenty of lush parks, open green spaces, and outdoor pursuits are around to enjoy fresh air and nature.
As the address is well-connected to popular areas, the transport system is top-notch. The Orchard MRT Station is within walking distance, and various bus services are available in the neighbourhood. Exploring the city is comfortable while multiple expressways are nearby, connecting the residents to multiple parts of the island easily.
Marcus Chu, CEO of ERA Singapore, noted that units at Grand Dunman that are in high demand are south-facing ones, which overlook the prestigious private landed estate of Mountbatten and Meyer, as well as the East Coast Park and the sea.
All in all, Grand Dunman is a prime example of a successful launch weekend, providing insight into the real estate market and the buyers’ preferences. Its success also shows that District 15 remains a sought-after area for property hunters.
Grand Dunman’s launch weekend saw an impressive take-up rate of 54.6%, with 550 units snapped up of the 1,008 available. About 90% of the buyers were Singaporeans, with a good spread of one-, two- and three-bedroom units sold, including dual-key units. With an average selling price of $2,500 psf, it is the fastest-selling project of 2023.
The condo’s proximity to Dakota MRT station on the Circle Line, its locational attributes like its proximity to the CBD, the Old Airport Road Food Centre, Katong heritage area and Kong Hwa School, and the highest premium south-facing units that overlook Mountbatten and Meyer area, the East Coast Park and the sea further makes it attractive.
Its success also had a positive effect on the two other projects in District 15 launched earlier this year: the 638-unit Tembusu Grand in April and the 816-unit The Continuum in May.
All in all, it is evident that Grand Dunman is a successful project, with its launch weekend being a reflection of the city’s real estate market and preferences among buyers. District 15 still remains popular among buyers, with Grand Dunman being the best-selling project since Normanton Park.