Singapore Property Developers Fear on Wuhan Virus

Due to the rising number of confirmed cases involving the Wuhan corona virus over the last two weeks, some Singapore property developers, especially those with ready to launch new housing projects, are entangled whether to proceed to launch them or not immediately after the end of the Lunar New Year celebrations. The PropNex Realty CEO, Ismail Gafoor, for instance, explains how the promotional and advertising cost involved in the initial property launch makes it very expensive for the property developers to launch a single project for more than two times. For example, if you invest in the first time property launch and a negligible number of people turns into the occasion, it would mean that the first investment has been consumed up without generating the minimum sales that would keep the momentum at a pace for the next months. Some developments which are good to look is Klimt Cairnhill. Please take a look at Klimt Cairnhill location here.

On the other hand, rescheduling a project launch isn’t the best solution, mainly when almost all approvals had already been acquired. Gafoor says the risk is even higher. It is not the five –year time flame that the developers have to dispose of their project, but the main issue is that every month you delay on launching the project, the more dilution of the first-mover advantage on the project it becomes. The Hoi Hup Realty and their joint venture partner, the Sunway Developments, a Malaysian group, are among the first property developers who went onward with its e-application and preview on Jan 31.

The Parc Canberra, a sales gallery comprising of 496-unit exclusive condominium developments, was opened on the same day by the joint venture, and over 1,500 people by the evening had visited this particular sales gallery. Koon Wai Leong, the Hoi Hup general manager, explains how the managerial team has been debating whether to continue and launch their projects or should they hold off their preview, although the decision-makers felt the need to remain optimistic and avoid overacting. Despite the little disruption, life must continue when the right precautions have been embraced to ensure everyone is safe and well protected.

The popular demand led to the sales gallery opening earlier than the scheduled time. By 10 am, earlier than the scheduled time at 11 am on 1st February, the room was already occupied, and by 9 pm, there were over 2,200 visitors at the sales gallery. “Initially, there were some doubtful individuals although they later changed their minds after realising the management had taken adequate protective measures and that a big crowd had already gathered, which triggered them to rush over quickly,” says Koon.

Anyone coming into the sales gallery had to register at the main registration tent first before being allowed inside. This registration ensured that everyone’s temperature is recorded by the specialised assigned staff as well as filling contact tracing affirmation form. This strategy had been successfully implemented about 17 years ago on the cases involving the Severe Acute Respiratory Syndrome (SARS).

Moreover, apart from filling the contact details, the visitors had to give an affirmation whether they had travelled or stayed with visitors from China or leaving with them. Anyone who did not meet the set conditions such as having gone to China were restricted from accessing the sales gallery. Frequent cleaning and proper hygiene measures were also taken to ensure maximum protection and health safety in the sales gallery.