Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condominium plot at Tengah Garden Walk has already been assigned to Taurus Properties, a 50:50 co-own linking City Developments Limited as well as MCL Ground.
Taurus Properties sent the strongest offer of $Four hundred mil, in which calculates to $6thousand 4hundred 92 per sq meter based upon gross floor area.
This particular is a log land price for an EC spot under the GLS program, outperforming the earlier log of $5hundred 83 psf per plot ratio gotten by the Sumang Walk EC area that was awarded in Mar’18, said Wong Siew Ying, Chief of R&C at PropNex.
City Developments Limited and also MCL Land layout to establish 12 blocks of approximately fourteen levels with almost 6hundred 20 executive condominium apartments at the location. They published that the blueprint will certainly be designed to obtain BCA Green Mark GoldPLUS (Super Low Energy) evaluation as per land tender circumstances.
Tan WH, Chief Exec Officer of MCL Land, announced upcoming occupants of the project will certainly enjoy outstanding travelling connection along with top-notch recreational living because the Ninety Nine yr lease ground is situated in close proximity 3 Mass Rapid Transit terminals on the upcoming Jurong Region Line.
Within a 10 min stroll to Tengah’s upcoming Community Centre, the location is at the same time less than a thirty min ride to Orchard Rd as well as the CBD.
Opened to buy on 26Nov2020, the 22thousand 20 sq m spot has an utmost GFA of 61,659 square metre furthermore is considered to produce Six hundred Fifteen housing apartments. The 99-year rental area has a property finalization span of sixty months.
The tender for the area concluded on 25 May 2K21, by having 7 quotes picked up. The main quote was a small 0.3percent over the second top tender of $Four hundred mil from CSC Land Group (Singapore).