Tengah Garden Walk EC site awarded for $400.3mil
The offer for an exec condominium ground at Tengah Garden Walk has been granted to Taurus Properties, a 50:50 joint venture amongst CDL and MCL Land.
Taurus Properties submitted the strongest tender of $4hundred mil, in which works out to $6thousand 4hundred 92 per sq meter based on gross floor area.
This particular is a track record land rate for an EC site under the GLS program, beating the earlier record of $583 per square ft ppr accomplished by the Sumang Walk EC plot that was presented in Mar2018, claimed Wong Siew Ying, Chief of Research and Content at PropNex.
City Developments Limited plus MCL Land arrange to build twelve blks of around fourteen levels with about Six hundred Twenty executive condominium units at the plot. They posted that the project will definitely be crafted to get Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) score according to land tender conditions.
Tan WH, CEO of MCL Land, mentioned potential individuals of the residence will definitely appreciate outstanding transit connectivity as well as first class leisure living given that the Ninety Nine yr leasehold location is positioned close to 3 Mass Rapid Transit stations on the future JRL.
Within a 10 min walk to Tengah’s coming future Community Centre, the location is similarly no more than a 30-minute commute to Orchard Road and the CBD.
Debuted for sale on 26Nov2K20, the 22thousand 20 square meter spot has a top gross floor area of 61thousand 6hundred 59 sq m and also is expected to generate 6hundred 15 residential apartments. The 99 year leasehold ground has a property finalization time span of 60 calendar months.
The tender for the site concluded on 25May’21, by having seven proposals acquired. The best bid was a bare 0.3% greater than the second-highest proposal of $400.2 million from CSC Land Grp (SGP).