Tengah Garden Walk EC site awarded for $400.3mil
The offer for an executive condominium ground at Tengah Garden Walk has actually been assigned to Taurus Properties, a 50% joint venture linking City Developments Limited and MCL Land.
Taurus Prop put forward the greatest quote of $400.3 mil, in which works out to $Six thousand Four hundred Ninety Two per sq meter based on gross floor area.
This is a track record land fee for an EC site under the GLS programme, going beyond the former history of $Five hundred Eighty Three per square foot ppr obtained by the Sumang Walk executive condominium plot that was awarded in Mar2K18, mentioned Wong Siew Ying, Head of Research and Content at PropNex.
City Developments Limited and also MCL Land layout to establish twelve blocks of approximately fourteen floors with approximately Six hundred Twenty EC apartments at the location. They shared that the blueprint will be made to get BCA Green Mark GoldPLUS (Super Low Energy) standing based on land bidding circumstances.
Tan WH, Chief Exec Officer of MCL Land, announced prospective individuals of the project will definitely experience impressive transit connection together with first class recreational living considering the 99 year lease site is set in close proximity to three Mass Rapid Transit stations on the future JRL.
Within a 10 min stretch to Tengah’s years to come Community Centre, the area is similarly less than a 30-minute commute to Orchard Road and the Central Business District.
Opened for sale on 26Nov2020, the Twenty Two thousand Twenty sq meter spot has a total gross floor area of 61thousand 6hundred 59 sq meter furthermore is assessed to supply Six hundred Fifteen living units. The Ninety Nine yr lease spot has a property conclusion period of time of 60 mths.
The tender for the plot ended on 25 May ’21, by having seven tenders collected. The greatest offer was a little 0.3% higher than the second-highest proposal of $Four hundred million from CSC Land Group (Singapore).