Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condo site at Tengah Garden Walk has been awarded to Taurus Properties, a 50% partnership among CDL plus MCL Land.
Taurus Prop submitted the highest proposal of $Four hundred million, which in turn works to $6,492.45 per sq m based upon GFA.
This is a record land fee for an exec condo location within the GLS programme, surpassing the past record of $5hundred 83 psf ppr secured by the Sumang Walk EC location that was allocated in March ’18, stated Wong Siew Ying, Chief of Research and Content at PropNex.
City Developments Limited and also MCL Land arrange to construct twelve blocks of as high as fourteen floors with more or less 620 executive condominium units at the plot. They gave out that the proposal will definitely be developed to obtain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) ranking based on ground bidding circumstances.
Tan WH, CEO of MCL Land, reported upcoming citizens of the residence will definitely enjoy exceptional transport connection as well as top-notch recreational lifestyle considering that the 99-year leasehold spot is set near three MRT terminals on the upcoming Jurong Region Line.
Within a 10 minute stretch to Tengah’s years to come Neighborhood Hub, the site is moreover lower than a 30-minute commute to Orchard Road furthermore the Central Business District.
Kicked off for sale on 26November2020, the Twenty Two thousand Twenty square m site has a maximum GFA of 61,659 square metre and even is expected to provide Six hundred Fifteen residential apartments. The 99-year rental ground has a project fulfillment time period of 60 months.
The bidding for the area ended on 25May2K21, by having 7 offers gathered. The top tender was a little 0.3percent more than the next greatest tender of $400.2 million from CSC Land Group (Singapore).