El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites

The tender for the 99-year lease term plots was debuted on 15Jun under the Confirmed List of the first half ’21 Govt Land Sales programme.

El Development sent the premier quote of $3hundred 20 point 1 mil or $1,246 per square foot per plot ratio for Plot A, which spans 7,957.3 sq m. The plot carries a peak gross floor area of Twenty Three thousand Eight hundred Seventy Two sq m and can generate 265 apartments units with a commercial cap of 8hundred square m in gross floor area.

The Watergardens Condo Price

“The leading offer was literally simply One point Three % greater than the following greatest bid from Gao Xiu Hua, that got the tender for Land B,” said CBRE’s Head of Research study for SE Asia Tricia Song.

Gao Xiu Hua, who is thought to be the other half of the Chairman of Kingsford Development, handed in the high price for Plot B at $162.4 mil or $1thousand 2hundred 10 per square foot ppr. This best quote was 2.4 % exceeding the 2nd highest quote from TID House.

Covering 5,936.6 sq meter, the location has an utmost GFA of Twelve thousand Four hundred Sixty Seven square metre also could easily supply 140 exclusive apartments together with a commercial limit of 4hundred sq meter in GFA.

“Land A’s property premium is more than Parcel B’s, perhaps caused by Plot A’s nearer vicinity to the Buona Vista Mass Rapid Transit station,” Song included.

She associated the good attraction for the spots to its “rather palatable scales, the developing nature at the prospering one-north R&D company hub, as well as controlled brand-new real estate amount around the neighborhood”.

In reality, the sites outperformed a past home spot at Slim Barracks Rise, which in turn acquired a leading bid of $1.001K per square foot ppr during the cease of its tender in September2019.

It was eventually become One-north Eden, the units of which were generally marketed at a mean pricing of $Two thousand 9 psf, reported Song.

For the two plots, Song presumes the properties to be promoted at over $Two thousand One hundred per sq feet while commenced.

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