Tengah Garden Walk EC site awarded for $400.3mil
The offer for an EC area at Tengah Garden Walk has already been presented to Taurus Prop, a 50:50 partnership linking CDL as well as MCL Land.
Taurus Prop sent the highest offer of $Four hundred million, and that works to $6,492.45 per sq m based on gross floor area.
This is a track record ground figure for an EC location under the Government Land Sales programme, outshining the former log of $583 psf per plot ratio accomplished by the Sumang Walk exec condominium plot that was allocated in March’18, shared Wong SY, Head of Research and Content at PropNex.
CDL plus MCL Land intent to construct 12 blks of up to 14 levels with more or less 620 EC units at the ground. They shared that the blueprint will certainly be constructed to acquire Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status according to land bidding conditions.
Tan Wee Hsien, Chief Executive Officer of MCL Land, stated coming future locals of the property will enjoy excellent transporting connection along with top-notch leisure living as the 99-year leasehold location is situated nearby 3 MRT terminals on the future Jurong Region Line.
Within a 10-minute stroll to Tengah’s coming future Small town Hub, the site is likewise beneath a 30-minute travel to Orchard Road and even the CBD.
Released to sell on 26 November 2K20, the Twenty Two thousand Twenty square meter spot has a maximum GFA of Sixty one thousand Six hundred Fifty nine sq m as well as is figured to produce 6hundred 15 real estate apartments. The Ninety Nine year leasehold site has a property fulfillment time period of sixty calendar months.
The offer for the site concluded on 25May2021, with 7 bids acquired. The highest quote was a minor 0.3% higher than the second top bid of $4hundred million from CSC Land Group (S’pore).