A property developer has a new twist in its marketing strategy by offering big carrot of 18 European cars to lucky buyers for a new Punggol condo development.
Generally mass market launches are very well received as they are priced affordably to target the general public, unlike the niche super luxury home market.
The developers of FLO Residence, a maiden joint venture between Capital Development and ZACD Investments, are giving 18 Volkswagen which is scheduled to be launched later this month.
Analysts noted the extraordinary lucky draw from the developers may be because they do not have much development track record.
Analyst said that giving freebies or slight discount is usually available, but this developer is making a grand entrance by giving 18 cars without certificate of entitlement.
For the mechanics of the lucky draw promotion, the first 30 buyers will be entitled to a lucky draw where one lucky buyer will win one Volkswagen car.
The other unsuccessful 29 buyers will be added to the second batch of 30 buyers, for a total of 59 who will be balloted for the next Volkswagen.
Analysts think that this developer is aiming for a good start for their maiden project to achieve safe initial sales volume, after which they will not be so pressured to sell aggressively.
The marketing agent said that they “want something that will attract attention. It's something that will get our buyers talking – if you buy this project, you'll get a chance to win a car. ”
4 May 2012