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     FrontPage Edition: Sat 29 May 2004

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HDB launches 50-storey The Pinnacle @ Duxton today

HDB is launching the sale of 528 apartment units under Phase 1 of its sales exercise for The Pinnacle@Duxton under the Build-To-Order (BTO) System.

The apartments offered under Phase 1 are located in Blocks 1C and 1D of the development. Application for these units can be submitted from 29 May 2004 to 18 Jun 2004.

The Pinnacle@Duxton is HDB's first 50-storey integrated housing development. It is based on an award-winning design selected from international and local entries for the Duxton Plain International Architectural Design Competition.

The development will have special features such as skybridges and sky gardens at the 26th and 50th storeys. Apartments will be provided with a varied combination of balconies, bay windows and planter boxes, to suit the preferences of flat buyers. The development comprising a total of seven residential blocks will be self-contained with shops, a food court, a child-care centre and an education centre.

It is located centrally along Cantonment Road and in close proximity to the Central Business District (CBD). It is also within walking distance to the Outram Park and Tanjong Pagar MRT Stations, which provide convenient connections to various parts of Singapore.

There are also good public transport links and many commercial and recreational facilities close by. Please see the site plan at ANNEX 1.

The apartments at The Pinnacle@Duxton are classified as "S" or Special apartments in view of its historical significance and award-winning design. In Phase 1, there are 352 units of Type S1 apartments with floor areas ranging from 93 to 97 sqm, and 176 units of Type S2 apartments with floor areas ranging from 105 to 108 sqm. For application of HDB policies, S1 and S2 apartments will be treated as 4-room and 5-room flats respectively.

The indicative prices of the apartments at The Pinnacle@Duxton offered in the Phase 1 BTO launch start from $289,200 for a S1 apartment and $345,100 for a S2 apartment. The indicative monthly service and conservancy charges for a S1 and S2 apartment, payable to the Town Council when buyers take possession of the apartments, are $90 and $100 respectively. More information on the supply of apartments and indicative price ranges, are available at ANNEX 2.

Showroom/Application Procedure

Interested buyers can get more information about The Pinnacle @ Duxton by visiting our showroom located at the junction of Cantonment Road and Neil Road. The showroom houses a sales office with full facilities for enquiry services and to accept applications for the apartments.

There are two fully-furnished show flats of S1 and S2 apartments, gallery exhibits showcasing the history of the site, lifestyle pictures as well as other useful information about the development. Brochures are also available to visitors at the showroom.

For those who work within the CBD, we have arranged for a shuttle bus service during lunchtime and after office hours to the showroom. More information on the showroom, shuttle bus service and application procedures can be found at ANNEXES 3 & 4.

The BTO launch will be advertised in the local newspapers on 29 May 2004. Interested buyers can also log on to e-Sales at www.hdb.gov.sg  or tune in to Teletext (Channel News Asia, Page 670) from the same day.

Introduction of Married Child Priority Scheme

To support the Government's social policy of encouraging mutual care amongst married children and their parents, HDB will implement the Married Child Priority Scheme (MCPS) for this BTO exercise for The Pinnacle@Duxton and also for future BTO exercises. The MCPS will replace the Multi-Tier Family Housing Scheme and the Joint Selection Schemes, which were previously available under the BTO System. Applicants applying for an apartment under this scheme will enjoy twice the weightage in balloting over the non-MCPS applicants.

Assistance for first timers

In recognition of first-timer applicants' more pressing need for housing to set up their families, they will also be given twice the weightage in balloting. If first-timer applicants also qualify under the MCPS, they will be given four times the weightage in balloting over second-timers, non-MCPS applicants. More details on the Priority Schemes are available at ANNEX 5.

In support of the Government's social objective to promote early marriages and family formation, young first-timer couples with at least one of the partners aged 30 years or younger who book either a S1 or S2 apartment can pay the downpayments in 2 instalments under the Staggered Downpayment Scheme (SDS).

The first 10% is payable when the applicant signs the Agreement for Lease and the balance 10% when he takes possession of his new apartment. This SDS benefit is also applicable for first-timer couples booking a 4-room or 5-room flat that is under construction offered in any of HDB's sales exercises.

For enquiries, please: e-mail hdbsales@hdb.gov.sg, call the Sales/Resale Customer Service Line at 1800-8663066 or visit The Pinnacle@Duxton Showroom at Cantonment Road or HDB Sales Office at Atrium 1st storey, HDB Hub, Toa Payoh to speak with our customer service officers.

Annexes.....

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