OUE TWIN PEAKS

OUE Twin Peaks makes its own band name as an iconic high-end development of finest architectural design along with various apartments fully fitted with designer furnishings. 464 stylish homes within 2 towers will define sopisticatedly The Orchard Urban Resort Living. The life at OUE Twin Peaks is as much about the spaces and facilities outside your home as inside.

 

 

 

Two towers, 462 stylish one-, two- and three-bedroom apartments oozing urban sophistication, get high on life at OUE Twin Peaks. A layered vista of lush greenery and water gardens offer the perfect balance between urbanity and tranquility. Relax. Rejuvenate. Recharge. Just step outside and the best the city has to offer is your playground. Endless shopping and entertainment on Orchard Road, Esplanade Theatre, enjoy the tranquility of the Singapore Botanic Gardens. Around your home, Serenity meets Sophistication.

 

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KEY BENEFITS

Premium DIstrict and Location

OUE TWIN PEAKS is located in the prestiqious enclave of prime District 9 (Leonie Hill, Orchard Area), less than 5 minutes drive to Orchard Shopping Belt.  

Close Proximity To Amenities

Only about 5 minutes drive to Orchard Road, you will be able to easily access the amenities such as Paragon Shopping Centre, Takshimaya Shopping Centre, Ion Orchard, Wheelock and Mount Elizabeth Hospital. You can choose to stroll to Orchard road that will take you about 10 minutes walk. 

Fully Furnished - Designer Furnitures and Fittings 

OUE Twin Peak is the only property development in Singapore that generously fit out the entire unit with designer brand furnitures and fittings; Charles and ray Eames, Foscarina, Hans Wegner and Herman Miller. 

furniture design oue twin peaks 

 

Deferred Payment Scheme 

OUE TWIN PEAKS, the first Singapore project that offer deferred payment scheme for project that achieve Temporary Occupation Permit (TOP). Here are the current 4 scheme to choose from. 

Scheme AScheme BScheme CScheme D

Concierge Service

Enjoy the ultimate convenience of living at OUE TWIN PEAKS, as the Concierge offers services tailored to your needs. Concierge Service is provided by Mandarin Orchard Hotel.

 

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PROJECT DETAILS

OUE TWIN PEAKS SITE PLAN & FACILITIES 

OUE Twin Peaks provides a various choice of internal facilities such as artful lighting, the shimmering waters of a hotel-like swimming pool with the artwork installations exotic, especially, lush tropical gardens that are well-crafted by Bill Bensley - an internationally acclaimed architect. The sublime escape is under your home roof with the exclusive dining suites, stylish jet spas and the triple volume sky gyms with splendour city view. The rooftop bar at Open-air Sky Loggias of the 36th storey, from the exclusive setting for social parties with friends against the backdrop of a glittering skyline.

OUE Twin Peaks Site Plan

OUE Twin Peaks site plan

OUE TWIN PEAKS UNIT TYPES AND SIZES

 

Unit Type Type No. of Units Area (sqft) Area (sqm)
1 Bedroom A1, A2 132 549 51
1 Bedroom A3, A4 136 571 53
2 Bedroom B 66 1,055 98
3 Bedroom C1 66 1,399 130
3 Bedroom C2, C3 116 1,604 149
4 Bedroom C4 4 1,895 176
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LOCATION STREET VIEW

 

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DEFERRED PAYMENT SCHEME

Market Data shows that OUE has been offering 4 Payment Schemes for The Twin Peaks. The schemes are considered as the private arrangement of the seller and buyer as The Condo has obtained CSC (The Certificate of Statutory Completion).

Twin Peaks Deferred Payment

In the first scheme - a delayed payment scheme as well, home-buyers can put down a payment of 20% upfront and exercise the option by December 30, 2016. In case of the ABSD requirement is tweaked by the Government, buyers liable to pay Additional Buyer’s Stamp Duty would stand to gain.

Under the second delayed payment scheme, buyers can make the upfront payment of 20% for the the issuance of the options to purchase, then within 2 or 3 years later, they need to pay the balance. And like the deferred payment scheme, which the government withdrew in 2007 for properties that have not obtained CSC.

Within two weeks, home-buyers need to exercise the option as well as pay the normal stamp duty plus ABSD where applicable. They can move into their own units at Twin Peaks OUE or rent them out immediately. We just make sense that the developer will hold the title deed until home-buyers make the payment for the balance 80% due to developer.

How buyers get benefits from The Second Payment Scheme?

  • THE SAVINGS OF INTEREST PAYMENT UP TO 2-3 YEARS.

  • EARN INTEREST ON THE CPT | GET DIRECT THEIR RENTAL INCOME.

  • MORE TIME FOR THE DISPOSAL OF OTHER PROPERTIES | HIGHER LOAN QUANTUM.


Scheme A-Normal Payment Scheme (NPS)

Scheme C - (extended OTP)

1% - booking / OTP

4% - exercise within 14 days

95% - 8 weeks completion

20% - booking & OTP

$1000 - exercise OTP by 30 Dec 2016

Balance 80% - completion 8 weeks from exercise

NVP to follow upon completion as per NPS(no need further sum)

Scheme B-Deferred Payment Scheme (DPS)

Scheme D - DPS (with extended OTP)

(Price up 5% from NPS price)

10% booking / OTP +

10% - exercise within 14 days

Buyer shows proof of SD (Stamp Duty) payment

Further sum $100 - NVP (notice of vacant possession)

Balance 80% - Deferred 2 years from exercise date

- Combination of Scheme B&C

- (Price up 5% form NPS price)

20% - booking / OTP

$1000 - Exercise by 30 Dec 2016

Further sum $100 - NVP

Balance 80% - Deferred 2 years from OTP date

 

Price List

No. Of Rooms Unit Type Area No. Of Stack PSF from Price From
1 Bedroom A1 51 / 549 01 $2,630 $1,443,870
A2 02
A3 53 / 571 05 $2,750 $1,570,250
A4 04 $2,740 $1,564,540
2 Bedroom B 98 / 1,055 07 $2,670 $2,816,850
3 Bedroom C1 130 / 1,399 03 $2,430 $3,399,570
C2 149 / 1,604 06 $2,330 $3,769,400
C3
C4 176 / 1,895 2,750 $4,410,305

 

* All prices above for OUE Twin Peaks displayed above are for reference and subject to change from time to time without prior notice. 

One-bedroom units of Tower 1 in size of 549 - 571 sqft are priced from $1,443,870 to $1,564,540. Two bedroom of 1,055 sqft are sold at $2,816,850. And the largest units - three-bedroom are gone from $3,399,570. For payment, in addition to Price Discounts, buyers can choose the normal process or one of two DPS (Deferred Payment Scheme) that they have to pay 5% higher than those under the normal payment scheme.

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NEWS & MEDIA

JULY 2016

OUE Twin Peaks to launch Tower 1 with new deferred payment scheme

OUE Ltd sparked the trend of deferred payment scheme (DPS) among completed condominiums in the prime district when it re-launched OUE Twin Peaks Tower 2 in April.

The 462-unit OUE Twin Peaks comprises twin 35-storey towers. The 99-year leasehold condo was completed in February 2015. Towers 1 and 2 are identical, and contain 231 units each.

When it launched the DPS for Tower 2, the starting price for a 570 sq ft one-bedroom unit was $2,100 psf or $1.22 million. Prices hit a high of $3,056 psf for a 549 sq ft one-bedroom unit on the 34th floor that was sold for $1.68 million in May.  Only eight units are still available at Tower 2, according to agents.

n the back of this success, OUE is now ready to launch OUE Twin Peaks Tower 1. A first phase of 93 units will be launched on July 30. Buyers can opt to pay by normal progressive payment or choose one of two DPS schemes available. Those who select the DPS scheme will have to pay a price that is 5% higher than those who buy under the normal progressive payment scheme.

Those who choose the first DPS scheme will have to pay a 10% booking fee and another 10% a fortnight later, upon signing the option to purchase. A further $1,000 is payable when they receive vacant possession of the unit. This allows the new owner to move in or to rent out the unit immediately. The balance 80% of the purchase price will only be payable two years after the option exercise date.

For those who select the second DPS scheme, they will have to pay a 20% downpayment upon signing the option to purchase. However, they can defer exercising the option until December 30. Upon exercising the option to purchase, they will then pay $1,000 and obtain vacant possession of the unit. The balance 80% will be due only two years later, starting from December 30.

The second DPS scheme may appear more attractive with an offer to defer exercising the option on top of deferring the balance 80% for the unit. However, by deferring the date of exercising the option to purchase, the buyer will also be deferring the date of obtaining vacant possession of the unit until December 30. This means the buyer will not be able to move in or rent out the unit until then.

For the launch of Tower 1, prices will start from $2,450 psf, with one-bedroom units of 570 sq ft from $1.35 million. All the units in Tower 1 will also be similarly furnished like Tower 2.

From: The Edge Singapore

APRIL 2016

Developer OUE is offering potential buyers a form of deferred payments in a bid to sell off remaining units at its Twin Peaks condo as the market grapples with plenty of unsold stock.

Deferred payment schemes (DPS) were very popular in 2002 to 2006 but they were abolished in October 2007 for uncompleted private homes. Developers cannot offer similar flexible payment plans if their projects are still uncompleted.

OUE has obtained its certificate of statutory completion for the project so it is no longer licensed under the Housing Developers Rules. These involve strict progress payment rules where a developer is paid based on stages of work done until the project is fully completed.

The 462-unit development was completed in February last year. Around 80 units have been sold at one tower with OUE planning to bulk-sell units at the other tower.

News of OUE's plan, which has two variations, underscores the notion that "in challenging times, one has to be bold and creative", said Mr Desmond Sim, CBRE head of research for Singapore and South- east Asia.

Under the first variation, buyers must make a 20 per cent downpayment and sign the sale and purchase agreement by the end of this year, when the 80 per cent balance and Additional Buyer's Stamp Duty (ABSD) is also paid.

"There are people out there who believe that ABSD may be tweaked positively next year, or maybe the end of this year," said a lawyer who declined to be named. "The general belief is that the ABSD rate can only get better for the buyer, not worse."

Under the second variation, buyers make a 20 per cent downpayment and sign the sale and purchase agreement now. They can then collect the keys to their unit.

The remaining 80 per cent is paid two or three years later, although OUE withholds the title deed until the full sum is paid.

However, there is a catch - OUE prices in a premium. For example, a fourth-floor unit under the DPS appears to be going at about 9 per cent more than if it were sold without the scheme, based on approximations from recent transactions.

This could still make sense for buyers, said Mr Alan Cheong, Savills Singapore research head. Assuming interest savings of 2 per cent per annum over three years and net rental yield of about 2 per cent per annum as well, the net gain is about 12 per cent.

It was reported that a DPS was used after 2007 by Keppel Corporation and Keppel Land for Reflections at Keppel Bay condo and GuocoLand for Goodwood Residences.

Some developments had approval for the scheme but were not yet sold out when the DPS was axed. But Twin Peaks is believed to be the first instance in recent years where a DPS has been made available.

DPS has proven successful in the past. At the MCL Land-Ho Bee joint venture Rio Vista, more than 150 homes were sold within weeks of its relaunch with the DPS incentive in January 2002, even with its average price unchanged from its 2001 launch without the incentive.

While the scheme introduces more flexible options in OUE's case, buyers will probably still be constrained by loan curbs.

In challenging market conditions though, "developers who do well are those who are innovative and are able to offer sustainable sale options which respond to current market requirements", said Ms Jennifer Chia, executive director and head of corporate real estate at TSMP Law Corporation.

 From Strait Times (Business Section)

APRIL 2016

OUE dangles 15 per cent discount for Twin Peaks condo

OUE'S latest marketing campaign for its high-end condominium project Twin Peaks has caught the attention of market players - for the steep discounts of 15 per cent off the price list and for its creative schemes.

Reflecting its sense of urgency, OUE has engaged five marketing agencies for the project - PropNex, CBRE, Savills, Centaline Property and SLP International.

With the tantalising discounts, prices now start at S$2,300 per square foot (psf) for selected "star-buy" units on the lower floors of this District 9 development at the junction of Leonie Hill Road and Grange Road.

Of the creative schemes dangled before potential buyers, one is a deferred payment scheme, which allows buyers to defer payment of the balance sum by two to three years; the other is a scheme under which buyers exercise their option to purchase (OTP) by Dec 30 this year.

Both are offered under private treaties; such schemes cast a spotlight on the flexibility that private treaties offer to developers whose projects have received Certificates of Statutory Completion (CSC).

Developers of uncompleted properties are unable to offer deferred payment schemes since the government abolished the scheme in 2007. Because OUE's project has obtained its CSC and is de-licensed, the developer is no longer subject to the provisions of the Housing Developers (Control & Licensing) Act and its rules, including the use of the prescribed OTP and sale-and-purchase agreement.

Under OUE's deferred payment scheme, buyers foot a 20 per cent downpayment to secure the option to purchase (OTP), and pay the remaining 80 per cent only two to three years later. They only need to pay another S$1,000 to exercise the OTP within two weeks and pay relevant stamp duties and S$1,000 to take vacant possession of the unit within eight weeks from the option date.

But the title deed will not be transferred to the buyer until two to three years later, though he or she can still occupy or rent out the unit. Buyers going for the deferred payment scheme under private treaty will get a price discount of 12 per cent instead, BT understands.

As for the other scheme that allows a buyer to exercise the OTP by Dec 30, the 15 per cent price discount applies.

Under such private treaties, however, the 20 per cent downpayment will be forfeited if the OTP is not exercised. This is unlike a standard OTP for a new launch, under which 25 per cent of the booking fee is forfeited if the option is not exercised.

Deferred payment schemes were also offered for selected units in completed projects such as Bishopsgate Residences by Kajima Development, going by an advertisement in The Star Malaysia late last year.

A lawyer who declined to be named said that private treaties provide great flexibility for the developer and buyers, and developers with projects nearing completion may hasten the process of obtaining the CSC.

The deferred payment scheme by OUE helps to ease buyers' cashflows, as it offers more time for them to dispose of other properties and secure a bigger loan when the 80 per cent payment falls due, market watchers said.

As for the scheme offering a longer exercise period, it facilitates buyers who are either waiting for the additional buyer's stamp duty (ABSD) to be tweaked by this year or who may need more time to dispose of an existing property to avoid the ABSD.

OUE has to finish selling all units of Twin Peaks by February 2017, failing which the extension charges under qualifying-certificate conditions kick in.

It has so far sold nearly 80 units of the 462 units at an average S$2,876 psf based on caveats lodged; it is still said to be looking to offload one of two 35-storey towers in a bulk sale.

The project obtained its temporary occupation permit (TOP) in February.

From Asiaone & Business Times. 

 

 

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DISCLAIMER : While every reasonable care has been taken in preparing this website and in constructing the models and showflats, the Developer and the Marketing Agents cannot be held responsible for any inaccuracies or omissions. Visual representations, models, showflats displays and illustrations, photographs, art renderings and other graphic representations and references are intended to portray only artist’s impressions of the development and cannot be regarded as representations of fact. All property listed, is subject to final inspection by relevant authorities to comply with the current code of practice and policies.

Oue Twin Peaks

   District 9
   0 sqft
   13500000

Developer

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