Tengah Garden Walk EC site awarded for $400.3mil
The bidding for an exec condo area at Tengah Garden Walk has already been allocated to Taurus Prop, a 50% joint venture amongst City Developments Limited as well as MCL Land.
Taurus Prop filed the highest tender of $Four hundred million, which in turn works to $6,492.45 per square meter based on gross floor area.
This is a record land figure for an exec condo site within the Government Land Sales programme, beating the early log of $5hundred 83 per sq ft per plot ratio gotten by the Sumang Walk exec condo ground that was allocated in March2K18, stated Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and also MCL Land proposal to build twelve blks of as much as fourteen levels with around Six hundred Twenty EC units at the plot. They gave out that the blueprint will certainly be made to acquire Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) evaluation based on land bidding circumstances.
Tan WH, Chief Executive Officer of MCL Land, stated upcoming citizens of the project are going to experience amazing transit connectivity as well as best-in-class leisure lifestyle since the 99 yr rental area is situated nearby three MRT terminals on the approaching JRL.
Within a 10 min walk to Tengah’s coming future Neighborhood Hub, the area is additionally beneath a 30-minute travel to Orchard Road as well as the Central Business District.
Debuted to sell on 26Nov2K20, the 22,020.8 sq m location has a max gross floor area of Sixty one thousand Six hundred Fifty nine sq metre and even is considered to generate Six hundred Fifteen residence units. The 99 yr leasehold plot has a property conclusion span of sixty calendar months.
The tender for the area ended on 25 May ’21, with 7 tenders acquired. The best offer was a simple 0.3percent higher than the second-highest offer of $4hundred mil from CSC Land Group (Singapore).