Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC site at Tengah Garden Walk has actually been awarded to Taurus Properties, a 50% partnership among CDL plus MCL Land.
Taurus Properties sent the strongest offer of $Four hundred million, in which works out to $Six thousand Four hundred Ninety Two per sq m based on GFA.
This particular is a record land rate for an EC spot beneath the GLS program, exceeding the older record of $Five hundred Eighty Three psf ppr achieved by the Sumang Walk exec condominium site that was allocated in March2K18, shared Wong SY, Chief of Research and Content at PropNex.
City Developments Limited as well as MCL Land arrange to erect twelve blks of up to 14 levels with more or less Six hundred Twenty executive condominium apartments at the area. They shared that the project will certainly be developed to get Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) standing as per ground bidding issues.
Tan WH, CEO of MCL Land, claimed coming future residents of the residence will certainly delight in impressive transit connection together with best-in-class leisure living as the 99-year leasehold area is located nearby 3 Mass Rapid Transit terminals on the upcoming Jurong Region Line.
Within a 10-minute stroll to Tengah’s upcoming Town Centre, the site is furthermore barely a thirty minute commute to Orchard Rd also the Central Business District.
Introduced for sale on 26November2020, the Twenty Two thousand Twenty sq metre site has a peak GFA of 61,659 sq m and also is predicted to yield Six hundred Fifteen home units. The 99-year rental plot has a property fulfillment span of 60 months.
The offer for the spot wrapped up on 25 May 2K21, with seven quotes picked up. The major offer was a mere 0.3percent over the 2nd greatest quote of $4hundred million from CSC Land Grp (S’pore).