Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condo site at Tengah Garden Walk has been granted to Taurus Properties, a 50:50 co-own linking CDL plus MCL Land.
Taurus Prop sent the greatest bid of $Four hundred mil, in which works to $Six thousand Four hundred Ninety Two per sq meter based on gross floor area.
This particular is a record land rates for an exec condo spot within the Government Land Sales programme, beating the early record of $5hundred 83 psf per plot ratio accomplished by the Sumang Walk EC site that was presented in March’18, said Wong SY, Chief of Research and Content at PropNex.
City Developments Limited and MCL Land intend to establish twelve blocks of around 14 levels with more or less 620 executive condominium apartments at the spot. They shared that the property will be crafted to achieve BCA Green Mark GoldPLUS (Super Low Energy) status based on ground tender circumstances.
Tan WH, Chief Executive Officer of MCL Land, said coming future citizens of the property will take pleasure in outstanding travelling connection in addition to top-notch leisure living as the Ninety Nine year rental ground is set close-by 3 MRT terminals on the future JRL.
Within a 10-minute stroll to Tengah’s coming future Town Centre, the location is also beneath a 30-minute commute to Orchard Rd as well as the CBD.
Released to sell on 26 November ’20, the Twenty Two thousand Twenty square m area has an optimum gross floor area of 61thousand 6hundred 59 square meter as well as is approximated to supply Six hundred Fifteen residence apartments. The 99-year lease site has a property finalization time span of sixty mths.
The offer for the site wrapped up on 25May2021, with seven tenders accepted. The highest bid was a little 0.3percent more than the next greatest tender of $Four hundred million from CSC Land Grp (Singapore).