Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC spot at Tengah Garden Walk has been allocated to Taurus Properties, a 50% joint venture between CDL and also MCL Ground.
Taurus Properties sent the best offer of $4hundred mil, that formulates to $6,492.45 per sq meter based upon GFA.
This particular is a history ground price for an EC site beneath the GLS program, beating the early track record of $583 psf per plot ratio gotten by the Sumang Walk EC site that was allocated in March2K18, said Wong Siew Ying, Chief of R&C at PropNex.
City Developments Limited along with MCL Land intend to erect twelve blks of up to 14 levels with approximately Six hundred Twenty EC units at the ground. They shared that the blueprint will certainly be developed to achieve BCA Green Mark GoldPLUS (Super Low Energy) evaluation as per ground tender situations.
Tan Wee Hsien, CEO of MCL Land, claimed potential residents of the property are going to experience exceptional transit connectivity in addition to premium recreational living given that the 99-year lease location is situated close to 3 Mass Rapid Transit stations on the approaching Jurong Region Line.
Within a ten minute stretch to Tengah’s coming future Small town Centre, the location is at the same time barely a 30 minute travel to Orchard Rd and also the Central Business District.
Released for sale on 26November2020, the 22thousand 20 sq m site has an optimum GFA of Sixty one thousand Six hundred Fifty nine sq metre and also is predicted to supply 615 residential apartments. The 99-year rental plot has a project finalization duration of 60 months.
The offer for the area wrapped up on 25May’21, by having seven offers took in. The top bid was a minor 0.3percent higher than the 2nd highest proposal of $4hundred million from CSC Land Group (SGP).