Units at Cape Royale in Sentosa to be up for sale, 9 years after completion

Launch tipped for end of June; call for marketing proposals understood to have been made

- Joyce Lim

Units at the upmarket Cape Royale on Sentosa island will soon be up for sale – nine years after the luxury development was built.

Hopeful buyers for the 302 units in the leasehold condominium project were put on hold when it was completed in 2013, because developers IOI Properties and Ho Bee Land decided to rent out the apartments as sale prices had started falling following two rounds of property cooling measures that year.

But it seems that some of the homes are finally going to be made available.

A spokesman for Ho Bee Land said on Wednesday that it aims to sell the units “in the near future”, but did not release further details.

The Straits Times understands that the developer has called for marketing proposals from real estate agents.

Several sale listings for Cape Royale on property portals have listed a guide price starting from $2,200 per sq ft (psf).

A property agent who claimed to have been appointed by the developers said that as 90 per cent of the units are tenanted, the sale will be rolled out in batches, with the launch tipped for end-June.

He added that salespeople have been given floor plans of the three- and four-bedroom units, and details of their sales commission.