Tengah Garden Walk EC site awarded for $400.3mil
The offer for an exec condominium plot at Tengah Garden Walk has already been assigned to Taurus Prop, a 50% alliance amongst CDL as well as MCL Land.
Taurus Prop sent the top tender of $400.3 million, which works to $Six thousand Four hundred Ninety Two per sq m based upon gross floor area.
This is a history land rate for an executive condominium ground under the GLS programme, outshining the past record of $5hundred 83 per sq ft per plot ratio acquired by the Sumang Walk exec condominium ground that was granted in Mar 2K18, said Wong Siew Ying, Chief of Research and Content at PropNex.
City Developments Limited together with MCL Land proposal to build 12 blocks of approximately fourteen storeys with approximately 620 EC apartments at the spot. They gave out that the blueprint will definitely be constructed to achieve BCA Green Mark GoldPLUS (Super Low Energy) scoring as per land tender situations.
Tan Wee Hsien, CEO of MCL Land, announced coming future locals of the residence will delight in excellent transporting connection along with top-notch recreational lifestyle considering that the Ninety Nine yr lease ground is positioned close-by three MRT stations on the upcoming JRL.
Within a 10-minute stretch to Tengah’s years to come Neighborhood Centre, the location is at the same time beneath a thirty minute drive to Orchard Rd and the CBD.
Launched available on 26Nov’20, the 22,020.8 sq meter location has a maximum gross floor area of 61thousand 6hundred 59 square meter and even is assessed to generate 6hundred 15 real estate units. The Ninety Nine yr lease plot has a project completion phase of 60 mths.
The bidding for the ground wrapped up on 25May’21, by having 7 tenders accepted. The major proposal was a small 0.3% higher than the next top bid of $Four hundred mil from CSC Land Group (Singapore).