Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condominium site at Tengah Garden Walk has actually been awarded to Taurus Prop, a 50% partnership in between CDL and MCL Ground.
Taurus Properties filed the top proposal of $Four hundred million, and that works to $6thousand 4hundred 92 per square m based upon gross floor area.
This is a record ground fee for an exec condo ground under the GLS program, outperforming the older history of $5hundred 83 per sq foot ppr secured by the Sumang Walk EC plot that was awarded in Mar’18, said Wong SY, Chief of R&C at PropNex.
City Developments Limited together with MCL Land aim to develop twelve blks of as high as fourteen levels with almost 6hundred 20 EC units at the location. They published that the property is going to be produced to attain BCA Green Mark GoldPLUS (Super Low Energy) ranking based on land tender situations.
Tan Wee Hsien, CEO of MCL Land, announced upcoming individuals of the residence will certainly experience top-notch transporting connection including best-in-class leisure lifestyle as the 99 yr lease area is situated in close proximity to three MRT terminals on the forthcoming Jurong Region Line.
Within a ten min stroll to Tengah’s coming future Small town Centre, the location is similarly lower than a 30-minute trip to Orchard Rd and also the CBD.
Launched to buy on 26Nov2K20, the 22,020.8 square metre location has a ceiling gross floor area of Sixty one thousand Six hundred Fifty nine sq m and also is figured to generate 615 residential units. The Ninety Nine year rental location has a project wrap-up phase of 60 months.
The offer for the plot closed on 25 May 2K21, with seven bids earned. The major proposal was a little 0.3percent over the second-highest bid of $Four hundred million from CSC Land Grp (Singapore).
