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Category Archives: Commercial Real Estate

RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate

Many Canadian Residents can’t qualify for mortgage to buy a home while the foreign investors enjoy profit in Canadian Real Estate Market. Full story below:

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  • ‘No thank you,’ McKay says to unproductive capital in homes
  • Intensive bidding is beginning to ease as prices stabilize

Foreign inflows are distorting Canada’s already constrained housing market and aren’t the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

 “We do not need foreign capital using Canadian real estate as a piggy bank,”  David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based lender. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents — no thank you.”

McKay, whose bank is Canada’s largest mortgage lender, says he’s supportive of government taxes and other measures targeting foreign buyers, as well as other regulatory efforts to cool the country’s housing market. He’s seeing some impacts from these rule changes, with “a little bit more healthy dynamics.”

 “Demand is down and house prices have been stable,” McKay said. “There’s still intensive bidding, but to a lesser degree.”
Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt. Toronto home sales fell 35 percent in February from a year earlier, marking the weakest month of sales in nine years, though benchmark prices were up 3.2 percent on the year, according to data released Tuesday by the Toronto Real Estate Board.

Added Gasoline

Canada’s housing market has been on edge this year as mortgage guidelines came into effect, making it harder for prospective buyers to qualify for loans.

A surge of foreign money into Canadian housing had been adding “gasoline” to markets in Vancouver and Toronto, McKay said. He identified a “cocktail of factors” that led to unconstrained growth of Toronto and Vancouver home prices, including a growing population, land constraints, lack of supply and highly stimulative interest rates that caused people to funnel more disposable income into their homes in addition foreign money.

Source: Bloomberg.com

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Posted by on April 15, 2018 in City of Toronto, Commercial Real Estate, Condominiums, New Announcement, New Condominiums, New Condos, New Construction, New Development, New Homes, Toronto Housing, Toronto New Condos

 

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The One Condo

The One Condos is a New Condo by Mizrahi Developments located at Yonge St & Bloor St, Toronto.

Steps away from the most popular restaurants in Toronto, endless transit options and everything else you love about Toronto sits The One Condos. A brand new creation by Mizrahi developments and Foster-Partners. This promises to be a memorable part of Toronto.

These 544 suites will become the heart and soul of the city, sitting at a stunning 84 storeys tall, One Bloor St West will transform into a cultural hub bursting with street energy and endless opportunities for you to live, work, and play.

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This building will become the second tallest in Canada next to the CN tower. The One is expected to have suites between 650 and 9000 sqft. Expected to launch in the Spring 2016, there will be no sharewalls meaning the consumer can customize their own unit. Amenities include 24/7 cleaning services, valet services, theatre rooms and much more.

Expect high-level retail at The One condos. World-class restaurants, fashion centres and other high-end retail tenants. The One will be a destination in the nexus of the city. The highest pedestrian count, vehicle count and the transit corner of Toronto, the One will be a destination in the public realm where all can congregate: similar to the Rockefeller Centre.

The One condo will become the second tallest build in Canada next to the CN tower. The One is expected to have suites between 650 and 9000 sqft.

The One Condos – an eighty story tower set to be placed 1,043 feet high. It is going to be an absolutely spectacular feet of engineering and architecture, especially with the famous Norman Foster behind its design. Its location is going to be at the intersection of two buzzing streets in the center of Toronto: 1 Bloor Street West at Yonge and Bloor. The intersection of these two main streets is currently inhabited by a deteriorating clothing store called Stollerys. This outdated fashion shop is set to be demolished and replaced by The One Condos and this news is most welcome to prospective residents and current inhabitants on both Yonge and Bloor.

 

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5 things to remember about chattels and fixtures

The buyer notices that the oven is not working when they do their final home visit, 2 days before closing. Can the buyer refuse to close or hold back money to repair the oven? These are just some of the questions that I receive from anxious buyers during the course of a home purchase.

Here are 5 key lessons to remember:

1. The buyer cannot refuse to close a real estate deal if an appliance is not working, or if there are minor damages on the property, unless the contract says so. What the standard real estate contract says is that the buyer can only refuse to close if there has been substantial damage to the property before closing. This would cover a house burning down or a major flood before closing, but would not cover a cracked window or appliance that is not working.

2. The buyer or the buyer lawyer is also not permitted to decide on their own to hold back money to complete any repairs, unless the contract says so. In my experience, sellers rarely agree to any clause in an agreement that permits a buyer to hold back money, for example, to make sure that the seller has completed any required repairs before closing. The problem is that in practice, buyers will typically say that they are not satisfied with the repairs and the holdback money cannot be released to anyone.

3. Here is my advice to settle repair or damage issues: get an estimate for the damage and then have your lawyer send it to the seller lawyer, offering to just settle the matter by the seller either fixing the problem before closing or the seller providing a credit equal to the estimate and the buyer fixes it themselves after closing. I am usually able to work this out with seller lawyers before closing. Unfortunately, if there is no settlement, there is no automatic right to hold back money and the buyer will be required to sue the seller in Small Claims Court after closing to get their money back. This is not a good solution for anyone, because of the time it takes to go to court to resolve this. Be reasonable and solve your problem.

4. What if the oven breaks down 2 days after closing? Unfortunately, the way the contract is written, the buyer does not get an extended warranty. The seller will typically only warrant that appliances and home systems will be working on closing, not after closing. Make sure that even if you are not moving in until a few days after closing that you go to your home immediately after closing and check to make sure that everything is working properly. If anything is not working or there is a damage, have your lawyer immediately contact the seller lawyer the next day about your issue. Also consider buying after sale insurance protection to cover your home systems and appliances. Canadian Home Shield is a company that offers this type of protection at a reasonable price.

5. Little things matter. If your seller is removing a chandelier, make sure they are required to replace it with a standard light fixture so you do not walk into a dark home on closing. If your seller is removing a TV bracket from the wall, make sure that they are required to fill in any holes that are created. Make sure you are to be given 2 full sets of keys, FOBs if a condominium, garage door openers and mail box keys. If the agreement is silent, the seller may only get you one set and it is costly to obtain a duplicate set, in most cases.

When you understand the rules about chattels and fixtures and properly protect yourself, you should be able to minimize any problems that arise after closing.

Source: RealProperty & Mark Weisleder LLB

 

 

Condo Pro: The Investment of a Lifetime

By Barbara Lawlor

A substantial percentage of our clients at Baker Real Estate Incorporated buy condos as an investment to add to their financial portfolio. Real estate remains one of the soundest investments anyone can make. In fact, many people feel more comfortable investing in the tangible asset of a condominium rather than stocks and bonds. Historically, those who ride out the lows of occasional real estate cycles do well in the long run. A lot of our investors are international buyers who recognize the value in our spectacular condos. They come from all over the world and from a wide variety of backgrounds and cultures.
From their point of view, they know that we have thousands of newcomers to the GTA each year, and they all need a roof over their head. Many begin by renting, so the demand for rental condominium suites promises to remain strong for years to come. We even see bidding wars going on for rental accommodations.
The point is that purchasing a condominium suite with the intention of renting it out is a viable financial strategy. Considering bang for the buck, you get a lot for the price per square foot when you go condo. In addition, condominiums are bound to increase in demand across the GTA as our strong immigration continues and the price of low-rise homes rises even more. Renters know that the amenities and landscaping in a condo will be kept up well, and that with many owners living in the building, their neighbours will take care of their homes. This is a win-win situation.
Here are a few tips for making the most of your decision to buy a condo as an investment.
· Buy early in the marketing/sales process to get the best price.
· Buying early usually means delivery dates are between three and six years, and many buyers make money and earn equity before occupancy.
· Today’s condos are typically built close to transit nodes and have amenities within walking distance, as well as beautiful amenities right in the buildings. Be sure to select a convenient location.
· Most investors select from the builder’s standard finishes, which are gorgeous today. A lot of the new suites come with hardwood or laminate flooring in the main living areas because so many people have allergies today. Think neutral with choosing, as these finishes appeal to a broader target market.
· When you consider the kind of suite to purchase, look carefully at the difference in price between a one-bedroom and one-plus-den. Often, the ability to charge more for rent for a unit with a den outweighs the extra amount at purchase. The den really opens up your market for renters, as it can be used as an office, or a second bedroom with a Murphy bed in it. In essence, these become junior two-bedroom suites. And if the suite has two bathrooms, all the better, especially if a couple students are sharing the space. If your pocketbook can handle only one bedroom, it is still a wise investment choice as a starter rental. These suites are rented are filling a major void in today’s market.
· Be sure to buy from a reputable builder with a track record for success with striking condominiums in amazing locations. I am happy to say that you have excellent choices in Toronto and beyond.
If you choose to live in the condominium you buy, your suite can still be considered an “investment” in two ways: in your quality of life and your peace of mind. Condos save time with so many amenities close by and maintenance taken care of by the Condominium Board. In addition, it is comforting to come home to a building where you know the concierge has a vigilant eye-on-the-street and security monitors for areas like underground parking.
However you slice it, buying a condominium is a great idea for anyone, investor or end-user, of any age – and the sooner, the better!
Source: Toronto Star.
 

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365 Church Condos

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365 Church St Condos will be a 30-storey residential building comprised of a 3-storey podium and a 27-storey tower. The building would include 322 residential units consisting of 28 studio units (9%), 184 one-bedroom units (57%) and 107 two-bedroom units (33%). The remaining 3 units (1%) are 2-storey, two-bedroom grade related townhouse units along McGill Street. 365 Church Condos also includes 218 square metres (2,346.5 square feet) of ground floor retail space.

365 Church will include 161 car parking spacing in five levels of underground parking, and 225 bicycle parking spaces with 180 for residents and 45 for visitors.

365 Church Condos includes 601 square metres (6,469 square feet) of indoor amenity space on the third floor of the building, with an adjoining 122.6 square metres (1,313 square feet) of outdoor amenity space on the roof of the west side of the podium along Church Street.

Register for Floor Plans and Price List. It will be Available Soon!

 
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Posted by on June 10, 2013 in 1 Bloor, 3018 Yonge Condominiums, 3018 Yonge Condos, 32 Camden, 32 Camden Condos, 365 Church Condos, 707 Lofts, Allure Condos, Argento, Argento Condos, B.Street Condo, B.Street Condominiums, Beverly Hills Condos, Beverly Hills Condos & Resorts, Blythwood at Huntington, Bond, Bridlewood Mall, Cinema, Cloud, Cloud 9 Condos, Commercial, Commercial Real Estate, Condominiums, Diamond @ Don Mills, DNA3, DNA3 Penthouse, Don Mills, Dovercourt, Dream Tower, Dream Tower Condominiums, Dream Tower Condos, Eau Du Soleil, Eau Du Soleil Waterfront, Eau Du Soleil Waterfront Condominiums, Essential Condominiums, Essential Condos, Expo City, Expo City Condos, Flaire Condo, Flaire Condominiums, Food Court, Four Season Hotel, Grand Genesis condominiums, Grand Genesis Condos, Jade, Jade Waterfront, Jade Waterfront Condos, Karma Condos, L Tower, L Tower Condos, Lawrence Park, Leslie, Leslie Boutique, Leslie Boutique Condos, Lofts, Love Condo, Love Condominiums, Low Rise Homes, Luxury Homes, Luxury Townhomes, Madison Condominiums, Madison Condos, Monde Condos, Mount Joy, New Condominiums, New Condos, Nexus South, Nexus South Condo, No.210 Simcoe Condos, No.210 Simcoe Street, NXT Condos, NY Condominiums, NY Condos, O2 Condos, Oakville OpArt Lofts, office, One Bloor, One Bloor condominiums, One Bloor condos, OpArt Lofts, Oxygen Condos, paintbox, paintbox condo, Paintedbox, Paintedbox Candos, Perspective, Perspective Condos, Picasso Condo, Plaza, Pre Construction, Q Loft, Q Loft Condos, Rain, Rain Condos, Residential, Restuarant, Retail, Richmond Crossing, Richmond Hill, River City, River City2 Condos, Shopping Mall and Plazas, Shopping Plazas, Spectra Condo, Spectra Condominiums, Strip Plazas, The Beverly Hills Condos, The Bond, The Bond Condominiums, The Bond Condos, The Carlaw Condominiums, The Carlaw Condos, The L Tower Condos, The Madison Condominiums, The Merton, The Merton Townhome, The Station Condos, The Station Condos on the subway, Toronto New Condos, Tower, Town Homes, Townhome, Treviso Condominiums, Treviso Condos, Tridel Blythwood at Huntington, Tridel's Argento, Tridel's Argento condominiums, Tridel's Argento condos, Uncategorized, Vaughan, vaughan condos, Vero Boutique Condo, Vero Boutique Condominiums, Vintage Garden, Water Garden by Minto, Water Garden condos, Watermark Condos, Westwood Condominiums, Woodbridge, woodbridge condos, wycliffe, Yorkville Plaza, Yorkville Plaza condo

 

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Karma Condominiums

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At Yonge & College

Karma Condos is a 52 storey building located at the prime Yonge & College intersection. CentreCourt Developments has partnered with Lifetime Developments to co-develop a multi-use high-rise residential condominium at 21 Grenville Street.

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The Karma Condos is centrally located in downtown Toronto and is within walking distance of Toronto’s major employment districts, Ryerson University, Yonge Street shopping and numerous restaurants. The city’s major hospitals and University of Toronto are also within close proximity. Public transportation is in immediate proximity with the Yonge subway within one block of the site.

FEATURES & FINISHES

It’s all good. Living at the center of the city, happens to come with style. This statement if perfect urban living is designed by the vulnerable architectural firm aA. The lobby, amenities and modern interior designers at Cecconi Simone. Enter KARMA Condos.

KARMA AMENITIES

  • Fitness Centre/Steam Rooms: weight rooms, cardio equipment, yoga area and a spa-inspired change room facility with his and hers steam rooms
  • The Social: A Party room with a bar, projection screen, modern fireplace, and private dining room with a servery
  • Players Club: a pub-like bar with felted poker table, billiards and table-tennis
  • Rest Rooftop Terrace: an open-air outdoor terrace with lounge, canopy seating and BBQ facilities
  • Additional Amenities: Screening Room, Sound Room, Station K – Gaming Room

KARMA THE BUILDING

  • 24 hour, 7 day a week concierge
  • Security coded access fob for all residents
  • Concierge monitored underground parking
  • Two guest suites provided for residents’ use
  • Individual suite hydro metering
  • Environmentally controlled rainwater harvested for irrigation
  • Underground parking with security monitoring from concierge station
  • 4 custom-designed high-speed elevators serving all amenity and residential floors
  • Mailroom conveniently located beside front lobby

KARMA SUITES

  • A wide variety of unit types and sizes with ceiling heights of 9’ (excluding areas with dropped bulkheads)
  • Floor-to-ceiling glazing/window systems
  • Choice of designer selected engineered wood flooring in entry, corridor, kitchen, living/dining areas and bedrooms, from builder’s standard samples
  • Custom designed solid core entry door with security view-hole
  • Smooth finished ceilings throughout.
  • Contemporary sliding doors and/or swing doors to balcony, as per plan
  • TV/Telephone outlets in principal rooms
  • Thermostat controlled heating and cooling
  • Built-in smoke/heat detectors and in-suite water sprinkler system
  • In-suite controlled energy efficient air-conditioning   and energy recovery ventilation system
  • All suites protected under the TARION Warranty Coporation
  • Front loading stacked washer and dryer

KARMA KITCHENS 

  • Contemporary kitchen cabinetry custom designed by Cecconi Simone in a variety of materials and colours, from builder’s standard sample
  • Choice of natural or composite stone countertops from builder’s standard samples
  • Choice of glass backsplash from builder’s standard samples
  • One capped ceiling outlet, as per plans
  • Stainless steel under-mount sinks with integrated pull-out faucet head
  • Energy Star hidden cabinet covered refrigerator
  • Energy Star 24″ smooth top drop-in electric cook top
  • Energy Star 24″ stainless steel oven
  • Stainless steel microwave oven
  • Hidden cabinet covered dishwasher
  • Stainless steel hood fan with integrated halogen lights

KARMA BATHROOMS

  • Contemporary bathroom cabinetry, custom designed by Cecconi Simone, in a variety of colours and materials, from builder’s standard samples
  • Choice of natural or composite stone countertops, from builder’s standard sample
  • Choice of porcelain flooring, from builder’s samples
  • Designer top-mounted sink
  • White soaker tub with chrome faucets, as per plan
  • Glass shower stall with chrome fixtures, as per plan
  • Chrome accessory package including towel bar and toilet paper holder, where applicable.

Karma Condos Price List

*As per plan from Vendor’s Samples. Please see a Sales Representative for details.
*Prices and promotions are subject to change without notice.
 
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Posted by on June 10, 2013 in 1 Bloor, 3018 Yonge Condominiums, 3018 Yonge Condos, 32 Camden, 32 Camden Condos, 707 Lofts, Allure Condos, Argento, Argento Condos, B.Street Condo, B.Street Condominiums, Beverly Hills Condos, Beverly Hills Condos & Resorts, Blythwood at Huntington, Bond, Bridlewood Mall, Cinema, Cloud, Cloud 9 Condos, Commercial, Commercial Real Estate, Condominiums, Diamond @ Don Mills, DNA3, DNA3 Penthouse, Don Mills, Dovercourt, Dream Tower, Dream Tower Condominiums, Dream Tower Condos, Eau Du Soleil, Eau Du Soleil Waterfront, Eau Du Soleil Waterfront Condominiums, Essential Condominiums, Essential Condos, Expo City, Expo City Condos, Flaire Condo, Flaire Condominiums, Food Court, Four Season Hotel, Grand Genesis condominiums, Grand Genesis Condos, Jade, Jade Waterfront, Jade Waterfront Condos, Karma Condos, L Tower, L Tower Condos, Lawrence Park, Leslie, Leslie Boutique, Leslie Boutique Condos, Lofts, Love Condo, Love Condominiums, Low Rise Homes, Luxury Homes, Luxury Townhomes, Madison Condominiums, Madison Condos, Monde Condos, Mount Joy, New Condominiums, New Condos, Nexus South, Nexus South Condo, No.210 Simcoe Condos, No.210 Simcoe Street, NXT Condos, NY Condominiums, NY Condos, O2 Condos, Oakville OpArt Lofts, office, One Bloor, One Bloor condominiums, One Bloor condos, OpArt Lofts, Oxygen Condos, paintbox, paintbox condo, Paintedbox, Paintedbox Candos, Perspective, Perspective Condos, Plaza, Pre Construction, Q Loft, Q Loft Condos, Rain, Rain Condos, Residential, Restuarant, Retail, Richmond Crossing, Richmond Hill, River City, River City2 Condos, Shopping Mall and Plazas, Shopping Plazas, Spectra Condo, Spectra Condominiums, Strip Plazas, The Beverly Hills Condos, The Bond, The Bond Condominiums, The Bond Condos, The Carlaw Condominiums, The Carlaw Condos, The L Tower Condos, The Madison Condominiums, The Merton, The Merton Townhome, The Station Condos, The Station Condos on the subway, Toronto New Condos, Tower, Town Homes, Townhome, Treviso Condominiums, Treviso Condos, Tridel Blythwood at Huntington, Tridel's Argento, Tridel's Argento condominiums, Tridel's Argento condos, Uncategorized, Vaughan, vaughan condos, Vero Boutique Condo, Vero Boutique Condominiums, Vintage Garden, Water Garden by Minto, Water Garden condos, Westwood Condominiums, Woodbridge, woodbridge condos, wycliffe, Yorkville Plaza, Yorkville Plaza condo

 

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Harbour Plaza Condos

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Welcome to Harbour Plaza Residences, a spectacular master planned condominium community in the downtown core, graced with a fine collection of modern urban suites and a roster of inspired lifestyle amenities.

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Harbour Plaza Residences will consist of 35-storey office tower at 1 York  Street and 69 and 65-storey residential condominium towers at 90 Harbour Street respectively.

Live next door to a new, state-of-the-art office building – One York Street– offering over 800,000 square feet of prime business space. Residents of Harbour Plaza Condos will enjoy direct access to One York Street via the PATH connection.

The office tower will sit atop a four- storey podium containing approximately 200,000 square feet of retail space. Two residential condominium towers will also sit on the podium and contain approximately 1 million square feet of density that will be accessed from Harbour Street.

Harbour Plaza Residences Price List

Available Upon Request

BUILDING FEATURES

  • Soaring glass tower designed by Architects Alliance
  • 24-hour Concierge
  • Welcoming grand 2-storey lobby with seating lounge and unique light sculpture
  • Direct connection to PATH network, providing all season, weather-protected access to over 28 km of shopping, services and entertainment, as well as access to TTC subway and commuter train services at Union Station.

GENERAL SUITE FINISHES

  • 8’6” in all principal rooms with lower bulkheads in some areas to accommodate mechanical and electrical distribution systems*
  • Laminate wood flooring** in foyer, living room, dining room*, kitchen, den* and bedroom(s)*
  • Custom-designed kitchen cabinetry** with pantry by award-winning interior designer Cecconi Simone
  • Custom-designed kitchen island by Cecconi Simone with quartz countertop, shelving, pots and pans drawer, and dining table extension
  • Stainless steel under-mounted sink with single lever faucet
  • Built-in Energy Star refrigerator
  • Built-in stainless steel range with glass cooktop drop in range with separate stainless steel oven
  • Built-in Energy Star dishwasher
  • Stainless steel Microwave oven
  • Over-the-range exhaust hood fan
  • Fridge and dishwasher to have custom wood panel fronts matching kitchen cabinetry
  • 24” front-loading Energy Star stacked washer and dryer

AMENITIES

  • Fitness Centre: Weight Studio, Kinesis Studio, Cardio Studio, Pilates/Yoga Studio and Spinning Room
  • Serene Indoor Pool with water feature
  • Poolside lounge
  • Juice bar
  • Men’s and women’s change room with steam rooms
  • Treatment lounge and rooms
  • Business centre
  • Outdoor terrace
  • Games room
  • Party room
  • Fireplace lounge
  • Theatre lounge
  • Look out lounge
  • Indoor green space with lounge seating and reflecting pool
  • Outdoor BBQ and dining area
  • Outdoor stonewall fireplace lounge

*As per plan. ** Colours and/or materials to be selected from Vendor’s standard packages. Principle Rooms consist of Living Room, Dining Room, Den* and Bedrooms*. Specifications are subject to change without notice. All room measurements and size are approximate. Builder may substitute materials for those provided in the plans and specifications provided such materials are of quality equal to or better than the material provided for in the plans and specifications. Decorative and upgraded items displayed in the furnished model and sales office are for display purposes only and are not included in the purchase price E. & O. E. 29/04/13 Last Updating May 02, 2013

Price List and Floor Plans  are available upon request.

Important Message: In order for an investor to take the most advantage of Buying Pre-construction Condos is to buy before its open to the public. Prior to opening day of a new condo sales office to the general public, prices may have gone up. This will be an opportunity for you to invest in a unit at the lowest price possible before its open to the public. You can be one of the first purchasers to be invited to Platinum VIP Preview Sales Event long before the presentation centre opens to the public. This gives you an opportunity to have the first access to inventory, best pick at unit levels, floor plans, lowest price not available to the public and the ability to take advantage of Platinum VIP Condo Incentives the builder may offer.  This is a perfect opportunity at the Platinum VIP Price.

For more information and to register now for the  Harbour Plaza Residences Condos Platinum VIP Preview Sales Event please fill out the form below, we can only bring limited customers into the Platinum VIP Sales Event, so pre-register now for priority access:

 

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