How A Once “Ulu” Condo Launched In 1997 Became A Top Performer
When Aquarius By The Park launched in October 1997 it was a real challenge for the developer and its marketing agents. The 99-year leasehold project on Bedok Reservoir View in District 16 entered the market just three months after a currency crisis in Thailand kicked off the Asian Financial Crisis.
In Singapore, the Asian Financial Crisis had a severe impact on buyer confidence at the time. This compounded the challenge that faced the launch of Aquarius By The Park, which was located in a relatively inaccessible part of Bedok back then. It was far from most of the stations on the East-West Line (EWL), namely Bedok and Tanah Merah stations. Today, Aquarius By The Park is about 400m to Bedok Reservoir MRT station on the Downtown Line (DTL), after the station opened in 2017.
But when the development launched for sale more than 28 years ago, the concept of the DTL didn’t exist. Most of the original owners of the condo assumed that the public transport accessibility at the project might never change. So, this condo had to be sold on the basis of being in a tranquil and peaceful setting, which some read as a very “ulu” area.
