City Life’s giant penthouse four times as big as a 5BR HDB causes storm of controversy
Seriously, tax payers are paying for this over $2M luxurious property? CityLife at Tampines, which bills itself as Singapore’s first luxury hotel-style executive condominium developed by Tampines EC – a consortium comprising Amara Holdings, Kay Lim Holdings and SingXpress Land is offering a Penthouse Suite with a sprawling size of over 4,000 sft. Market observers note that assuming the penthouse costs $500 price per square foot, similar with the other units, the total cost of the unit is estimated to be above $2M well above the typical $1M price for executive condo. Tampines EC bills that the giant penthouse at City Life is likely to be the largest of its kind for ECs in Singapore. Some industry observers said that the developer defeats the purpose of executive condo which targeted young couple with combined $12,000 monthly income. Some of the comments generated include: “I think income ceiling for this kind of EC should be raised as how can a young couple w