1. World's First
  1. The Storey behind ICON
  1. Living by the lake
  2. An undiscovered gem of Serangoon - Central View
  3. A landmark painted in foliage, steel and glass
  4. The Secret Garden of Gardenvista
  5. Layers of choices - Strata
  1. 964 new homes sold in first half 2003
  2. Outstanding projects recognised
  1. Hip Healthy Drinks for the Y-Generation
  1. An early start to National Day at Far East Square
  1. Cuisines of Asia, Italy, Japan and the Pacific Rim
  2. De Trafford Wine Dinner
  3. Over the Moon at Town
  4. Premium Honeymoons at your fingertips
  5. Seasons in the Sun
  6. Meet in Style
  7. Weekend specials for Landmark readers at FEO Hotels
  1. The Fullerton Square - A Technological & Logistical Feat
Archive Section
Disclaimer
Copyright Far East Organization 2003/2004
Fuelled by a resurgence in interest in property, private home sales are soared to 1,900 in the second quarter from a historical low of 427 in the first. Far East Organization garnered robust sales of 964 new homes, close to 50 per cent of the total units sold by all developers in the primary residential market in the first six months of this year.

This sterling first-half performance is led by strong take-up at new launches in the second quarter, such as ICON, Gardenvista and Whitewater, and supported by healthy sales at other residential projects spanning our entire portfolio. This indicates that there is broad-based demand in the market for a wide cross section of property types. There is also a revival of value-seekers and families coming to the suburban condominiums.

Our landmark city centre development ICON is our top seller. Officially launched in end May 2003, the luxurious 46-storey development, which will rise as Singapore's tallest private residential building at the doorstep of the Tanjong Pagar MRT station, has already recorded impressive sales of over 95 per cent of the 556 units released to date. A prime selection of 90 panoramic two- and three-bedroom sky apartments on the 32nd to 46th storeys are yet to be released. Other top-selling projects include Whitewater (129 units), Gardenvista (76 units) and Casablanca (65 units).

Far East Organization targets to sell 1800 homes for the whole of this year. Mr Chia Boon Pin, Chief Operating Officer of Retail & Lifestyle Concepts and Director of Corporate Affairs says, “With only less than 900 units to go for the second half of this year, we believe it is eminently possible to meet our full year sales target, barring any unforeseen circumstances.”

Business is returning to normalcy. The local stock market has seen strong activity. With business travel and tourism in rebound, an improving economy and continued new investments into Singapore, business activity will increase along with the steady resumption of wealth creation. All these developments will underpin the property market. “Buying confidence is returning as homebuyers and astute investors recognise that property purchases are for the long term. At the current low point in the property price cycle, and with historic low mortgage rates, Singapore property offers good value for money. We believe projects that are pitched at the right niche markets, with excellent location and attractive pricing, will continue to do well,” adds Mr Chia.

Market analysts have estimated total overall primary home sales to hit 6,000 this year.
Commitment to Sales Excellence

The annual Far East Organization Sales Excellence Campaign, held this year from 1 July to 15 August, serves to garner the efforts of all staff in driving sales, the lifeblood of our Organization. Far East Organization's diverse property portfolio means that we are able to provide choices to meet the varied needs and lifestyle aspirations of our customers. To facilitate the efforts of staff in introducing our extensive range of quality homes to their network of friends, families and business associates, a series of exciting programmes have been lined up, including:

  • Tours of FEO developments
  • Road shows on campaign activities by our Club Connectors and Facilitators to all departments
  • Various themed evening cocktail receptions for staff’s business associates and friends

Attractive incentives will be awarded for every successful staff referral. During the Sales Excellence Campaign, homebuyers will also enjoy special promotional incentives at selected prime projects.

Everyone in Far East Organization has an organisational commitment to sales growth. Achieving our sales target is not only the achievement of our sales personnel. It will also represent the efforts and commitment to business excellence by all members of the Organization.

Upcoming Launches

  • The Greenwood, new phase with an exclusive collection of 16 freehold modern three-storey terrace homes offering a rooftop garden lifestyle built on the last available plot of land in the prime Bukit Timah residential district.
  • Orchard Scotts, in the Scotts Road / Newton area, near the Newton MRT station. The 387-unit development is available for lease and sale. Only about 150 to 190 units will be released for sale.
  • The Lakeshore, opposite the Lakeside MRT station, Jurong. Only part of the 850 units in the Mediterranean spa village themed condominium will be released for sale in the second half of the year.