OPEARL Developments set to open their first condo in Canada!
By Lucas on Sep 17, 2015
Just a few days before the grand opening of OPEARL Developments’ Sail Condos in Scarborough, we had a chance to visit the presentation centre to chat with Ray Mao, Director, and Ruby Ma, General Manager, OPEARL Developments, about their first condo in Canada.
OPEARL Developments has a 40-year history in China, developing 4 million square feet of commercial space, including a shopping mall, and over 20 high-rise residential buildings, mostly in Zhejiang and Fujian provinces.
Ray Mao, Director, OPEARL Developments
“Our company’s a family owned business,” explained Mao. “It started from my grandfather back in 1970. In the beginning, we started in construction materials. Because of that, we know lots of developers, construction companies, architects - all the parts to finish a project.”
Clearly, with the amount of development OPEARL has completed in China, they have a firm understanding of the development process. We’re very interested to see how their first project in Toronto goes! Sail Condos has already been previewing to registrants, and Mao says that sales have been very smooth leading up to the grand opening celebration.
“We immigrated to Toronto back in 2005, so I’ve been living in Toronto for a while and I love to live here,” said Mao. “I told my dad, Canada’s real estate market is consistently going up, so it’s a safe investment. It’s stable and a safe place to invest, and lots of immigration comes from overseas every year.” OPEARL isn’t the first overseas developer to recently recognize the potential in Toronto’s housing market. It seems as though Toronto is finally living up to that “world-class city” reputation!
OPEARL decided on this Scarborough neighbourhood for a few different reasons. “This neighbourhood is highly under development right now because it’s the intersection of the 400 and 401, and you get access to everywhere in the city very quickly; downtown, the airport, North York, and without paying the kind of high price to live downtown, and you get the same quality of lifestyle,” said Mao.
And it’s true, the prices at Sail Condos are starting at just $199,900! According to Mao, at pre-construction pricing, the podium units average about $450/square foot and the tower units average about $460/square foot, which is pretty amazing for the new condo market.
One of the interesting things about Sail Condos is that Mao and the OPEARL team don’t believe that a purchaser should have to upgrade their features and finishes to be happy or comfortable with their new home. The kitchen vignette in the presentation centre is stunning, and it’s all standard (except the kitchen island). It’s the tiny details that make all the difference; Mao pointed out how the edges of the cabinets were rounded instead of sharp and that they all had soft-close doors. Full-size appliances are also available at absolutely no extra cost. The counters are stone, and all the stainless steel appliances are operated by touch - no buttons! - providing a very clean look.
“We really care about the customer relationship. Even after closing, we want to make sure the customer is very happy,” said Mao.
About Sail Condos
Sail Condos will rise 18 storeys and feature 180 units in total, ranging from studios to three+dens. OPEARL has kept the amenities trim with the focus of keeping the maintenance fees low, offering a central courtyard, a gym, a party room, a rooftop terrace (green roof), and a barbecue area.
The grand opening is on September 19th at 12 pm sharp! OPEARL will be offering a few different incentives on this day. The Grand Opening Package offers more than $15,000 in discounts and a cash back offering, as well as $8,000 savings on parking and a free kitchen island.
There is a stretched deposit schedule, requiring 5% in 30 days, 5% in 120 days, and another 5% in 540 days. There is also a referral bonus for those who have already purchased; if they refer a friend, the purchaser and referrer will each receive $2,500 in free upgrades!
The presentation centre is located at 2933 Sheppard Avenue East, near Victoria Park Avenue. Call 416-756-SAIL (7245) with any questions!
