City Developments, MCL Land sell 77 percent of Piccadilly Grand project on launch weekend

An artist's impression of Piccadilly Grand, a Singapore residential project underdevelopment as of May 2022 by Hongkong Land's MCL Land and City Developments. Credit: City DevelopmentsAn artist's impression of Piccadilly Grand, a Singapore residential project underdevelopment as of May 2022 by Hongkong Land's MCL Land and City Developments. Credit: City Developments

The Piccadilly Grand development in Singapore sold 315 out of 407 units, or 77 percent, on its opening weekend, developers City Developments and Hongkong Land‘s MCL Land said in a press release Sunday.

The average selling price was at S$2,150 a square foot, the release said. The pricing ranged from S$1.06 million for a one-bedroom unit, up to over S$3 million for a five-bedroom unit, the release said.

The unit sizes ranged from 484 square feet for a one-bedroom unit up to 1,679 square feet for a five-bedroom unit with private lift, the developers said, adding the one-, two- and three-bedroom sizes were the most popular on the launch weekend.

The project, located on Northumberland Road, will have three 23-storey towers, connected to the Piccadilly Galleria retail project, with direct connections to the Farrer Park MRT station, the release said.

City Developments said its proprietary electronic system was used for expressions of interest, balloting and sales bookings.

Around 90 percent of buyers were Singaporeans, with the remaining 10 percent including permanent residents and foreigners from China, India, Malaysia, the U.S., Hong Kong, Indonesia and others, the release said.

The project is a 50:50 joint venture between City Developments and MCL Land, which is part of the Jardine Matheson Group, under Hongkong Land.