Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC area at Tengah Garden Walk has recently been assigned to Taurus Prop, a 50% co-own concerning CDL and also MCL Ground.
Taurus Properties submitted the top bid of $Four hundred million, which works to $6,492.45 per sq m based upon GFA.
This is a track record land fee for an EC plot under the Government Land Sales programme, beating the older log of $Five hundred Eighty Three per square foot ppr secured by the Sumang Walk exec condominium location that was granted in Mar 2018, mentioned Wong Siew Ying, Chief of R&C at PropNex.
CDL and also MCL Land intend to erect 12 blocks of as high as fourteen floors with about 620 EC apartments at the plot. They shared that the property will definitely be created to acquire Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) score based on land tender conditions.
Tan WH, Chief Executive Officer of MCL Land, reported potential occupants of the residence are going to take pleasure in exceptional transport connectivity as well as top-notch recreational lifestyle since the 99-year rental site is positioned nearby three Mass Rapid Transit stations on the future Jurong Region Line.
Within a 10-minute stroll to Tengah’s future Small town Centre, the plot is at the same time lower than a 30 minute drive to Orchard Rd furthermore the Central Business District.
Opened for sale on 26Nov2K20, the 22thousand 20 sq meter plot has a ceiling gross floor area of Sixty one thousand Six hundred Fifty nine sq metre and also is predicted to produce Six hundred Fifteen residence apartments. The Ninety Nine year rental spot has a property completion time span of 60 months.
The tender for the site wrapped up on 25 May 2K21, by having 7 tenders earned. The best bid was a little 0.3% over the second best proposal of $4hundred million from CSC Land Grp (Singapore).