Tengah Garden Walk EC site awarded for $400.3mil
The offer for an executive condominium ground at Tengah Garden Walk has actually been granted to Taurus Properties, a 50% joint venture concerning City Developments Limited plus MCL Land.
Taurus Properties handed in the top bid of $400.3 mil, and that works to $Six thousand Four hundred Ninety Two per sq meter based upon GFA.
This particular is a record land figure for an EC site beneath the GLS programme, beating the earlier history of $Five hundred Eighty Three per square ft ppr acquired by the Sumang Walk exec condo plot that was assigned in Mar2018, announced Wong SY, Chief of R&C at PropNex.
CDL and MCL Land layout to erect 12 blks of as much as fourteen storeys with about 620 EC apartments at the location. They gave out that the proposal will be created to achieve BCA Green Mark GoldPLUS (Super Low Energy) evaluation based on ground tender issues.
Tan WH, Chief Exec Officer of MCL Land, reported future locals of the residence will definitely enjoy effective transport connection together with top-notch recreation living given that the 99-year rental plot is located alongside 3 MRT stations on the upcoming JRL.
Within a ten minute stretch to Tengah’s future Neighborhood Hub, the ground is moreover no more than a 30-minute travel to Orchard Rd and even the Central Business District.
Released available for sale on 26November2K20, the 22thousand 20 sq metre location has a top GFA of 61,659 sq meter as well as is figured to yield Six hundred Fifteen residence units. The 99-year rental location has a property completion time span of 60 months.
The bidding for the area closed on 25May2K21, by having seven offers collected. The greatest offer was a mere 0.3percent over the 2nd highest quote of $Four hundred million from CSC Land Grp (SGP).