Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condo location at Tengah Garden Walk has already been allocated to Taurus Prop, a 50% alliance linking CDL as well as MCL Land.
Taurus Properties handed in the highest proposal of $Four hundred mil, which in turn works out to $6,492.45 per square meter based on gross floor area.
This is a history land rate for an executive condominium ground within the Government Land Sales program, outperforming the past record of $Five hundred Eighty Three per sq foot ppr achieved by the Sumang Walk executive condo location that was awarded in March’18, reported Wong Siew Ying, Chief of Research and Content at PropNex.
City Developments Limited as well as MCL Land intend to put together twelve blks of up to 14 levels with approximately Six hundred Twenty EC apartments at the site. They posted that the property will definitely be produced to accomplish BCA Green Mark GoldPLUS (Super Low Energy) score according to ground bidding circumstances.
Tan WH, Chief Exec Officer of MCL Land, shared prospective homeowners of the residence will certainly delight in superb transportation connectivity together with premium recreation lifestyle considering the Ninety Nine year rental spot is set close-by three Mass Rapid Transit stations on the approaching JRL.
Within a 10 min stroll to Tengah’s coming future Small town Hub, the spot is at the same time shorter than a thirty minute trip to Orchard Rd and also the Central Business District.
Commenced for sale on 26 November 2K20, the Twenty Two thousand Twenty square m plot has an utmost GFA of 61thousand 6hundred 59 sq m and even is considered to generate Six hundred Fifteen residence units. The 99-year rental plot has a project fulfillment period of 60 mths.
The bidding for the site concluded on 25May’21, with seven offers received. The leading bid was a minor 0.3% over the second greatest tender of $Four hundred mil from CSC Land Group (Singapore).