The waterfront lifestyle is set to get a boost from Keppel Land's $30 million
Marina@Keppel Bay, slated for completion at the end of next year. The marina on Keppel
Island will be able to accommodate almost 200 yachts, with five berths for mega yachts of
between 100 and 200 feet. The marina will also add to the upmarket positioning of Keppel
Land's soon-to-be-launched condominium next to its Caribbean@Keppel Bay. Already,
news of the Sentosa integrated resort has helped push up prices in the area. Caribbean
was launched at about $800 psf in 2000, but prices have since surged almost 50 per cent.
Keppel Land has only a few units left - and its deputy general manager of marketing
(residential) Albert Foo says prices are now around $1,200 psf. Like Sentosa Cove, the
area, with Keppel Land's as-yet-unnamed new condominium development, is being
marketed as a playground for the rich and famous, and Mr Foo says the response from
foreign investors has been good. The condominium is being designed by renowned
architect Daniel Libeskind. 'We have test marketed the design overseas and we are
confident of getting a wider range of foreign investors,' Mr Foo said. At the Caribbean,
about 20 per cent of buyers are foreigners, he said. Prices of the 1,200-unit new
development have not been fixed, but Mr Foo said Keppel Land will take its cue from prices
at Sentosa Cove. He said that apart from this development, Keppel Land has three more
residential sites at Keppel Bay.
