El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites

The tender for the Ninety Nine year lease term plots was released on 15June under the Verified Outline of the initial half 2K21 GLS plan.

El Dvlpmt tendered the high price of $320.1 mil or $1.246K psf ppr for Plot A, which covers 7,957.3 sq meters. The spot possesses a peak gross floor area of 23,872 square m and can offer 265 flats units with a commercial limit of 800 square meter in GFA.

“The main proposal was actually just One point Three percentage greater than the second highest tender from Gao Xiu Hua, that tipped the quote for Land B,” spoke CBRE’s Head of Research for SE Asia Tricia Song.

Parc Clematis Condo Price

Gao Xiu Hua, who is believed to be the partner of the Chairman of Kingsford Development, tendered the top proposal for Land B at $1hundred 62 point 4 mil or $1.21K per square feet per plot ratio. This particular main tender was Two point Four percentage more than the second greatest price from TID Non commercial.

Extending 5,936.6 sq meter, the location has a max gross floor area of 12,467 square metre and also can return 1hundred 40 personal homes including a retail limit of 400 sq m in gross floor area.

“Parcel A’s property rate is more than Plot B’s, probably because of Land A’s closer vicinity to the Buona Vista Mass Rapid Transit station,” Tricia boosted.

She credited the solid enthusiasm for the spots to its “fairly acceptable measurements, the flourishing nature at the rising one-north R&D business hub, and also minimal brand-new property supply around”.

In fact, the sites surpassed an older house location at Slim Barracks Rise, in which received a best proposal of $One thousand One per sq ft ppr during the course of the completion of its offer in September2019.

It was later developed into One-north Eden, the units of which were generally pushed at an average price of $2.009K psf, shared Tricia.

For the 2 plots, Tricia foresees the properties getting advertised at exceeding $2,100 per square foot the moment introduced.

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