Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condominium plot at Tengah Garden Walk has been awarded to Taurus Properties, a 50% partnership amongst CDL and also MCL Ground.
Taurus Properties put forward the top tender of $400.3 million, in which works out to $6,492.45 per square m based upon GFA.
This is a track record land rates for an exec condominium location beneath the Government Land Sales program, outshining the past history of $583 per square ft per plot ratio achieved by the Sumang Walk EC plot that was assigned in March’18, mentioned Wong Siew Ying, Chief of R&C at PropNex.
CDL as well as MCL Land layout to establish 12 blocks of approximately 14 levels with around 620 executive condominium apartments at the location. They gave out that the blueprint will certainly be developed to achieve Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status based on land tender conditions.
Tan WH, Chief Executive Officer of MCL Land, shared future citizens of the residence will certainly delight in effective transportation connectivity as well as premium recreation lifestyle considering that the 99 yr rental area is located close to 3 Mass Rapid Transit stations on the upcoming Jurong Region Line.
Within a 10-minute stroll to Tengah’s years to come Neighborhood Hub, the site is also no more than a 30-minute travel to Orchard Rd and the Central Business District.
Kicked off to buy on 26Nov’20, the Twenty Two thousand Twenty square metre spot has a top GFA of 61thousand 6hundred 59 sq m furthermore is approximated to yield 6hundred 15 home units. The Ninety Nine yr leasehold area has a project fulfillment period of time of 60 calendar months.
The offer for the plot ceased on 25May’21, by having seven tenders accepted. The main bid was a small 0.3percent greater than the second-highest offer of $4hundred mil from CSC Land Grp (SGP).