Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condominium spot at Tengah Garden Walk has actually been allocated to Taurus Properties, a 50:50 joint venture in between CDL plus MCL Ground.
Taurus Prop filed the strongest offer of $400.3 million, which works to $6,492.45 per sq meter based upon gross floor area.
This particular is a record land rates for an executive condo spot beneath the GLS program, surpassing the past history of $Five hundred Eighty Three per sq ft per plot ratio secured by the Sumang Walk EC site that was granted in Mar2018, stated Wong Siew Ying, Chief of Research and Content at PropNex.
City Developments Limited together with MCL Land plan to build twelve blks of as high as fourteen floors with about 620 executive condominium units at the location. They shared that the property will certainly be crafted to obtain BCA Green Mark GoldPLUS (Super Low Energy) score based on ground bidding situations.
Tan Wee Hsien, Chief Executive Officer of MCL Land, claimed prospective individuals of the residence will certainly appreciate top-notch transportation connection alongside top-notch leisure living given that the 99-year lease ground is located in close proximity to 3 MRT stations on the approaching Jurong Region Line.
Within a 10-minute stretch to Tengah’s years to come Town Hub, the plot is at the same time barely a 30-minute travel to Orchard Rd and even the Central Business District.
Opened to buy on 26November2K20, the 22,020.8 square m plot has a max gross floor area of 61thousand 6hundred 59 sq metre furthermore is figured to provide Six hundred Fifteen housing units. The 99-year lease site has a property completion span of 60 mths.
The tender for the ground ceased on 25 May 2021, with 7 proposals earned. The highest proposal was a mere 0.3percent more than the second-highest proposal of $400.2 million from CSC Land Grp (Singapore).