Newport Residences Preview scheduled for Apr 28 CANCELLED due to ABSD? - TheWackyDuo.com - Singapore Wacky Digital Underground Outpost

Newport Residences Preview scheduled for Apr 28 CANCELLED due to ABSD?


 

The first casualty of ABSD is in.

Newport Residences Preview, slated to start on Apr 28, has been postponed indefinitely.

Newport Residences is a freehold project located a short way from Tanjong Pajar MRT station. Located at the intersection of Tanjong Pagar Road and Bernam Street, it is just opposite One Bernam, a 99 yr project. 





It was formerly Fuji Xerox Towers and will be developed by City Developments. It is located in D2 (Chinatown/Tanjong Pagar) and is a freehold project sitting on 5091 sqm. With One Brenam One Bedroom psf at $3,629 psf, Newport Residence was slated to launch as high as  $4,000 per square foot. 

The targeted market appears to be investors or foreigners. Due to the ABSB announcement on Apr 26, it is anticipated that it will dampen demand for this project. The developer stated that they expect the market to take time and absorb the news, hence the delay in preview. 

No new dates are provided for the launch.


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