Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condo spot at Tengah Garden Walk has been granted to Taurus Prop, a 50:50 joint venture between City Developments Limited and MCL Ground.
Taurus Properties submitted the strongest proposal of $Four hundred million, which in turn works to $6thousand 4hundred 92 per sq m based on gross floor area.
This is a log land rates for an EC location beneath the Government Land Sales program, beating the past record of $5hundred 83 psf ppr achieved by the Sumang Walk executive condo ground that was awarded in March 2018, stated Wong SY, Chief of R&C at PropNex.
CDL as well as MCL Land intend to put together twelve blocks of approximately 14 storeys with about Six hundred Twenty EC units at the location. They shared that the proposal will be produced to get BCA Green Mark GoldPLUS (Super Low Energy) rating according to land tender situations.
Tan Wee Hsien, Chief Exec Officer of MCL Land, reported upcoming individuals of the property are going to appreciate top-notch transit connectivity together with top-notch leisure lifestyle considering that the 99 year leasehold site is placed in close proximity three Mass Rapid Transit terminals on the forthcoming JRL.
Within a 10-minute stroll to Tengah’s coming future Small town Centre, the area is likewise no more than a 30-minute commute to Orchard Road and the CBD.
Kicked off available on 26Nov2K20, the 22thousand 20 square meter location has a peak gross floor area of 61,659 sq metre and even is approximated to generate 6hundred 15 residence units. The Ninety Nine year rental spot has a property finalization time frame of sixty mths.
The offer for the ground ceased on 25May’21, by having seven bids received. The major bid was a little 0.3percent more than the second-highest tender of $Four hundred mil from CSC Land Grp (SGP).