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Case Study

Boutique Apartment Development Verde Sold 81 Units in Just Two Weeks

Developer: Telok Macau Real Estate Fund I, L.P.
Our role: Marketing and Leasing Consultant

Located in the heart of Macau Peninsula, Verde is a boutique apartment development consisting of three phases. Verde One, the first phase of the project, offers 68 one-bedroom to two-bedroom units between 424 and 1,150 sq ft in a seven-storey residential block. In view of the unfulfilled need for chic homes in Macau, the developer targeted to capture this market segment by providing relatively small units coming with hotel-style concierge services at more affordable prices.

As the marketing and leasing consultant for Verde, we assisted in formulating sales strategies, advised on market positioning, and helped on planning and conducting sales campaigns. Capitalising on our past experience in handling residential projects, we recommended a mixed approach of soft and direct marketing.

With its unique offering, both in terms of layout design and superb services, Verde One was extremely well received by the market and swiftly sold out its 68 units. To satisfy the keen demand, the developer released another 13 units from the yet-to-be-launched Verde Two. In just two weeks' time, Verde sold a total of 81 units, achieving far better-than-expected results.

“As Macau’s first chic boutique apartment, the Verde is a bespoke accommodation solution offering good value and design for young professionals and expats. Being our first overseas development project, we have gone through a thorough due diligence exercise in selecting our local partners. We have chosen to partner with Jones Lang LaSalle because it is a well-established and reliable professional property services provider with both local expertise and global presence. We want to take this opportunity to thank the Jones Lang LaSalle Macau team, and in particular the efforts of Jeff Wong, for performing an outstanding job from the VIP pre-sale to the Verde Exhibition. We are impressed by Jones Lang LaSalle’s in-depth knowledge about the Macau property market. We believe that Jones Lang LaSalle’s dedicated and professional approach in marketing Verde was a major ingredient in enabling us to pre-sell this project at a price well within our target expectations.”
– Genevia Lam, Vice-President, Telok Macau Real Estate Fund I, L.P.

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