Tengah Garden Walk EC site awarded for $400.3mil
The offer for an EC spot at Tengah Garden Walk has actually been presented to Taurus Prop, a 50:50 alliance in between City Developments Limited and also MCL Land.
Taurus Prop submitted the best offer of $4hundred mil, which in turn works out to $6thousand 4hundred 92 per sq m based upon GFA.
This particular is a record land rates for an executive condo plot under the Government Land Sales programme, surpassing the older history of $Five hundred Eighty Three psf ppr secured by the Sumang Walk exec condominium plot that was awarded in March2018, mentioned Wong Siew Ying, Chief of R&C at PropNex.
CDL and MCL Land plan to erect 12 blocks of up to fourteen floors with almost 6hundred 20 EC units at the plot. They shared that the project is going to be designed to achieve Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) ranking based on ground bidding conditions.
Tan Wee Hsien, CEO of MCL Land, shared potential locals of the project are going to appreciate amazing commuter connection together with best-in-class recreational living given that the Ninety Nine year lease location is set close-by three MRT stations on the approaching JRL.
Within a ten minute stretch to Tengah’s coming future Neighborhood Hub, the ground is furthermore shorter than a 30-minute commute to Orchard Rd and even the Central Business District.
Debuted for sale on 26Nov’20, the 22thousand 20 sq m plot has an utmost gross floor area of Sixty one thousand Six hundred Fifty nine square metre and even is approximated to provide Six hundred Fifteen real estate units. The 99-year leasehold plot has a property completion time period of 60 mths.
The offer for the location closed on 25May2K21, by having seven bids picked up. The best proposal was a little 0.3percentage over the second-highest proposal of $400.2 million from CSC Land Group (SGP).