Tengah Garden Walk EC site awarded for $400.3mil
The offer for an exec condominium ground at Tengah Garden Walk has recently been allocated to Taurus Prop, a 50:50 alliance among City Developments Limited plus MCL Land.
Taurus Prop submitted the highest quote of $400.3 million, which works out to $6,492.45 per square m based upon gross floor area.
This is a log land figure for an executive condominium area beneath the GLS program, exceeding the early track record of $5hundred 83 psf ppr attained by the Sumang Walk exec condominium area that was granted in March 2K18, shared Wong SY, Head of R&C at PropNex.
CDL along with MCL Land arrange to build 12 blocks of up to 14 floors with roughly 620 executive condominium units at the plot. They posted that the blueprint will certainly be developed to obtain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) ranking based on ground bidding circumstances.
Tan WH, CEO of MCL Land, mentioned prospective locals of the project will certainly delight in top-notch travelling connection in addition to top-notch recreational lifestyle considering that the 99-year rental site is situated close-by 3 Mass Rapid Transit stations on the future JRL.
Within a 10-minute stretch to Tengah’s upcoming Community Centre, the plot is moreover barely a 30-minute trip to Orchard Rd and even the CBD.
Debuted to sell on 26Nov2K20, the 22thousand 20 sq m area has a top GFA of 61,659 sq metre and is predicted to provide 615 residence apartments. The 99 yr leasehold area has a property finalization phase of 60 calendar months.
The bidding for the ground wrapped up on 25May2021, with 7 tenders received. The highest offer was a little 0.3percentage more than the second-highest tender of $Four hundred million from CSC Land Grp (Singapore).