Tengah Garden Walk EC site awarded for $400.3mil
The bidding for an EC plot at Tengah Garden Walk has recently been awarded to Taurus Properties, a 50% partnership linking City Developments Limited as well as MCL Ground.
Taurus Properties submitted the strongest bid of $Four hundred million, that works to $Six thousand Four hundred Ninety Two per sq m based upon GFA.
This particular is a record ground price for an executive condominium location within the GLS programme, outperforming the past track record of $583 psf ppr attained by the Sumang Walk EC location that was awarded in March 2018, shared Wong Siew Ying, Chief of R&C at PropNex.
CDL along with MCL Land intent to develop 12 blocks of as high as fourteen floors with approximately 6hundred 20 EC apartments at the ground. They published that the property is going to be made to acquire BCA Green Mark GoldPLUS (Super Low Energy) score based on ground tender circumstances.
Tan Wee Hsien, CEO of MCL Land, reported future residents of the project are going to delight in outstanding commuter connectivity along with top-notch recreational lifestyle because the 99-year lease spot is positioned in close proximity to 3 Mass Rapid Transit stations on the upcoming Jurong Region Line.
Within a 10-minute stretch to Tengah’s years to come Small town Centre, the spot is at the same time lower than a 30 min drive to Orchard Rd and even the CBD.
Kicked off available on 26 November ’20, the Twenty Two thousand Twenty square m area has a ceiling gross floor area of 61thousand 6hundred 59 square metre and also is expected to provide 615 residential units. The Ninety Nine year rental ground has a property finalization time span of 60 mths.
The offer for the site ceased on 25 May 2K21, with seven bids collected. The main offer was a little 0.3percentage greater than the second-highest offer of $4hundred mil from CSC Land Grp (SGP).