Tengah Garden Walk EC site awarded for $400.3mil
The offer for an EC plot at Tengah Garden Walk has been assigned to Taurus Properties, a 50:50 alliance between City Developments Limited also MCL Land.
Taurus Properties handed in the highest bid of $400.3 mil, which formulates to $6,492.45 per sq meter based upon gross floor area.
This particular is a track record land price for an EC ground under the Government Land Sales programme, surpassing the past record of $5hundred 83 per square ft per plot ratio gotten by the Sumang Walk EC spot that was assigned in Mar2K18, claimed Wong SY, Chief of Research and Content at PropNex.
CDL and also MCL Land plan to put together twelve blocks of as much as fourteen storeys with close to 620 EC apartments at the spot. They gave out that the proposal will certainly be created to attain BCA Green Mark GoldPLUS (Super Low Energy) standing as per land bidding circumstances.
Tan Wee Hsien, Chief Exec Officer of MCL Land, claimed future citizens of the residence are going to delight in reliable transportation connection as well as first class recreational living given that the 99-year lease site is placed nearby three Mass Rapid Transit terminals on the future JRL.
Within a 10-minute stroll to Tengah’s future Community Centre, the location is similarly barely a thirty minute drive to Orchard Road and also the CBD.
Opened available on 26November’20, the 22thousand 20 square m location has a max GFA of Sixty one thousand Six hundred Fifty nine sq m and even is approximated to produce 6hundred 15 residential units. The 99-year leasehold plot has a property finalization period of 60 calendar months.
The offer for the ground closed on 25May2K21, with 7 offers obtained. The top offer was a minor 0.3% more than the second-highest bid of $Four hundred mil from CSC Land Grp (SGP).