09/01/2016

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Red House project sells majority of units

The Red House project in the Katong area has seen over two-thirds of its units sold amid a slowdown in the private property market, reported Channel NewsAsia.

Considered an iconic landmark, the Red House was once a famous bakery, but is now being developed into a residential-retail lifestyle development by Warees Investments, the Islamic Religious Council of Singapore’s (MUIS) property arm.

Launched in 2013, the project is on track for completion by Q2 2016, said Warees Investments.

It will have 42 residential units that are categorised into three classes – Residences (28 units), Suites (10 units) and Lofts (four units) – with unit sizes ranging from 441 sq ft to 1,206 sq ft.

“Construction for the development which includes the iconic Red House in Katong is currently at 90 percent completion,” the developer noted.

Minister for Communications and Information and Minister-in-charge of Muslim Affairs Yaacob Ibrahim was briefed on the progress of the project during his visit to the development site on Thursday.

Commenting on how the development will enhance the heritage of Joo Chiat and Katong, Dr Yaacob said: “This is a conserved building. We are able to maintain the facade and as the architect explained, they work painstakingly to restore the frontage of the building which I think is very important.

“The Red House of course is another icon, so I think we have done our part to make sure that the heritage of Joo Chiat and Katong is maintained.”

Notably, five adjacent shophouses at 63, 65, 67, 69 and 71 East Coast Road, as well as the Red House at 75 East Coast Road were declared as Wakaf (Islamic endowment) assets in 1957.

To “relive the good days of Katong and preserve the character and heritage of the district”, a bakery will reopen at the Red House building, added Warees Investments.

Aside from selling bread, the bakery will also feature a gallery as a tribute to the building’s heritage. The developer is currently looking at ways on how it can allow the public to access the gallery round-the-clock.

Picture Source: Artist’s impression of the Red House project in Katong.
Source copied from: http://www.propertyguru.com.sg/property-management-news/2015/12/112788/red-house-project-sells-majority-of-units

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