Singapore, 18 March 2015
 
Launch of Puteri Cove Residences & Quayside retail and SOHO/loft units expected to attract discerning investors, businesses and home-owners
 
Unique offering of freehold luxury waterfront mixed-use development in exclusive Puteri Harbour area provides highest fixed returns in the market for retail and residential units
 
Singapore-based real estate companies Pacific Star Development and partner DB2, via joint-venture company Pearl Discovery Development Sdn Bhd (‘Pearl Discovery Development’), today announced the first release of its 79 retail units and 56 SOHO/loft units within Puteri Cove Residences & Quayside in Puteri Harbour, Iskandar Malaysia. This is the first time the retail and SOHO/loft units have been released for sale since its phase one release of selected residential units.

A limited number of 50 select apartments was also released for sale. The subsequent final release will be reserved for buyers from overseas markets such as Japan, Taiwan and Hong Kong. This is in keeping with the proposition of maintaining an international curated community in Puteri Cove Residences which has already attracted discerning buyers from over 28 countries around the world including America, Britain, France, Germany, Indonesia, Italy, Japan, Hong Kong and Singapore.

Scheduled for completion in the third quarter of 2017, Puteri Cove Residences & Quayside is the only luxury development with both private marina and waterfront views in Iskandar Malaysia.

“We are launching these units of Puteri Cove Residences & Quayside at a time when buyers are most discerning and seek properties which provide greatest value to them. We are confident of the strength of our proposition of exceptional marina living in an international community for global citizens. The steady progress within the area will also continue to increase the appeal of our development,” said Glen Chan, President and CEO of Pacific Star Development.

Puteri Cove Residences & Quayside is a luxury marina-front mixed-use development comprising two towers of 658 luxurious apartments, a tower of serviced suites and four blocks of SOHO/loft units, as well as Puteri Cove Quayside, a two-level waterfront retail promenade which will offer a comprehensive range of restaurants, cafés and specialty shops for the Puteri Harbour community.

Puteri Cove Quayside
Buyers of retail units at Puteri Cove Quayside will receive fixed returns totalling 19.5 per cent over three years, the highest in the market. This is part of a compulsory lease-back agreement in which Pearl Discovery Development will select a tenant mix that best reflects the lifestyle needs of its community.

Modelled after sought-after waterfront lifestyle destinations such as Monaco and Sentosa Cove, Puteri Cove Quayside will be built to mirror world-class marina projects to offer prime waterfront retail and F&B units, through a quality tenant mix that is carefully brought together and managed by the developer.

With specialty retail stores, restaurants and cafes, Puteri Cove Quayside will offer the entire Puteri Harbour precinct the ultimate marina-front dining, leisure and shopping pursuits for affluent and well-heeled residents and visitors alike. Prices start from S$448,000 with units ranging from 439 sq ft to 2,600 sq ft.

Puteri Cove Residences
Residential apartment units at Puteri Cove Residences provide buyers an attractive proposition of 12 per cent fixed returns over a period of two years, amongst the highest fixed returns offered in the market today. Prices start at S$338,000 for apartment units which all come in ready-to-move-in conditions complete with high-quality finishing and fixtures, an uncommon feature for properties in Iskandar Malaysia. Sizes of apartment units range from 678 sq ft to 3,918 sq ft (penthouse unit).

The 56 SOHO/loft units released today are priced from S$555,000, with units ranging from 644 sq ft to 1,828 sq ft.

“The SOHO/loft units are anchored above Puteri Cove Quayside, perched at a perfect location, overlooking the vibrancy of the waterfront, promenade, retail, dining and private marina activities. The double volume 4.8 metre high ceilings, floor-to-ceiling windows and bedrooms that open to private dipping pools will allow homeowners to optimise a living space that inspires their creative freedom, entrepreneurial spirit and ambition. We expect high buying interest from investors and owner-occupiers of businesses such as aesthetics, beauty and specialist clinics, consultancy firms and creative agencies,” Mr Chan explained.

The hugely popular mixed-use development was recognised as the top-selling property last year in Iskandar, with all units released sold to-date. It is the only development in Iskandar Malaysia offering 30 world-class facilities including an Olympic-sized 50-metre infinity lap pool, surrounded by clear blue waters and luscious greenery.

Buyers see Puteri Cove Residences as an ideal second home by the waterfront which not only offers high potential investment returns, but is also a worthy legacy for their children. A ten-minute drive from Singapore via Tuas Second Link, Puteri Cove Residences & Quayside offers seamless accessibility in the near future with options to travel by ferry to Puteri Harbour from Singapore’s Harbourfront, where residents will be able to dock at the by-invitation-only Puteri Harbour Private Marina and the Singapore-Kuala Lumpur high-speed rail scheduled for completion in 2020.

Designed by NRY Architects, the architects behind the exclusive Four Seasons Hotel and Residences in Kuala Lumpur, all units at Puteri Cove Residences & Quayside pay homage to the natural beauty of the surrounding lush greenery and waters to reflect waterfront marina living where the city meets the sea at Puteri Harbour.

Puteri Harbour is the thriving new centre of Nusajaya in Iskandar Malaysia, in close proximity to Ascendas Technopark, Pinewood Studios, Gleneagles Medini Hospital, EduCity, Legoland and Kota Iskandar, and within a five minutes’ walk to the Puteri Harbour International Ferry Terminal which will offer daily ferry services to Singapore Harbourfront.

For more details on Puteri Cove Residences & Quayside, visit www.putericoveresidences.com.


About Puteri Cove Residences & Quayside
Puteri Cove Residences & Quayside is developed by Pearl Discovery Development Sdn Bhd, a member company of Pacific Star Development and DB2 Group. Puteri Cove Residences & Quayside is an integrated mixed-use development located in Puteri Harbour, Nusajaya, Iskandar Malaysia. The 7.8 acres prime waterfront freehold development is part of the premier waterfront residential community in Puteri Habour. Construction completion is expected by the third quarter 2017.

Singapore Sales Gallery
ERA Sales Office, 229 Mountbatten Road #03-01, Singapore 398007

Malaysia Sales Gallery and Show Suites
Tanjung Boulevard, Lebuh Laksamana, Puteri Habour, 79000 Nusajaya

About Pacific Star Development
Pacific Star Development is one of Singapore’s premier developer of prime residential and award-winning mixed-use projects in key gateway cities across ASEAN countries with an established portfolio of notable developments built to world-class standards of excellence. For more information, please visit www.putericoveresidences.com and www.theposh12.com.

About DB2 Group
Established since 2006, DB2 Group is a property developer with a track record of over 15 successful residential and mixed-use development projects in Singapore. Prominent projects in Singapore include Siglap V, Loft@Nathan, Devonshire Residences, and 10 Shelford.



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