A Singapore property developer is targeting the super rich with parking problems by marketing luxury apartments that allow owners to keep their cars next to their living rooms, even if they are on the top floor of the 30-story block.
The development, near the city-state’s main thoroughfare of Orchard Road, features what are described as “en suite sky garages” that automatically transport cars in a lift up to the desired level at the touch of a biometric pad in the basement entrance.
“It’s done in such a way that it’s a museum showcase, it’s not just a car park,” says Leny Suparman, chief executive of KOP Properties, the developer, that is unashamedly targeting a growing number of millionaires in Singapore who own “supercars”.
Prices for the 56 apartments range from 9.8 million in Singapore dollars ($7.8 million) to S$30 million for a penthouse with space to park four cars.
The launch of the project – the first of its kind in Asia – may make sense in a country that boasts the highest density of millionaire households in the world. Boston Consulting Group estimates that more than 17 percent of households in the city state of 5.1 million have wealth of $1 million or higher.
Singapore, along with Hong Kong, is home to more Maseratis, Ferraris and Lamborghinis per capita than anywhere else in the world.Page 1 of 3 | Next Page