Tengah Garden Walk EC site awarded for $400.3mil
The offer for an EC ground at Tengah Garden Walk has recently been granted to Taurus Prop, a 50:50 partnership concerning City Developments Limited also MCL Ground.
Taurus Properties handed in the top offer of $4hundred million, which calculates to $Six thousand Four hundred Ninety Two per sq m based on GFA.
This particular is a track record ground rate for an EC plot under the GLS program, exceeding the former history of $5hundred 83 per sq foot per plot ratio achieved by the Sumang Walk EC site that was granted in March2018, mentioned Wong SY, Chief of Research and Content at PropNex.
CDL and also MCL Land plan to construct 12 blocks of up to 14 storeys with approximately 620 EC units at the plot. They published that the project will definitely be crafted to get Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) standing as per land bidding situations.
Tan Wee Hsien, Chief Exec Officer of MCL Land, announced upcoming residents of the residence will definitely experience outstanding transport connectivity as well as top-notch recreational lifestyle since the 99-year leasehold spot is set close-by three Mass Rapid Transit terminals on the future JRL.
Within a 10-minute stretch to Tengah’s years to come Community Centre, the site is likewise barely a thirty min commute to Orchard Road furthermore the Central Business District.
Released up for sale on 26 Nov 2020, the 22thousand 20 square metre plot has a max GFA of 61,659 sq m and is considered to yield 615 housing units. The 99-year leasehold spot has a project finalization period of time of sixty calendar months.
The offer for the site ended on 25May2021, with seven proposals picked up. The greatest bid was a small 0.3percentage greater than the next top bid of $400.2 million from CSC Land Grp (S’pore).