Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC area at Tengah Garden Walk has been awarded to Taurus Properties, a 50:50 joint venture among City Developments Limited as well as MCL Land.
Taurus Prop filed the top quote of $400.3 mil, that works out to $6,492.45 per square meter based on gross floor area.
This is a log ground fee for an EC site beneath the GLS programme, outshining the former track record of $583 per square ft per plot ratio obtained by the Sumang Walk executive condominium spot that was granted in Mar2K18, shared Wong Siew Ying, Chief of R&C at PropNex.
City Developments Limited along with MCL Land layout to build twelve blks of until fourteen storeys with about 6hundred 20 EC units at the plot. They published that the property will be developed to acquire BCA Green Mark GoldPLUS (Super Low Energy) status based on ground tender situations.
Tan Wee Hsien, Chief Executive Officer of MCL Land, said prospective homeowners of the residence will certainly take pleasure in effective transporting connection including first class recreational lifestyle as the 99-year rental ground is positioned close-by 3 Mass Rapid Transit stations on the upcoming Jurong Region Line.
Within a 10 min stroll to Tengah’s upcoming Neighborhood Centre, the plot is similarly barely a thirty min trip to Orchard Road and also the CBD.
Debuted offer for sale on 26Nov2K20, the 22thousand 20 square meter location has an utmost gross floor area of 61thousand 6hundred 59 sq m and also is figured to generate Six hundred Fifteen residence units. The Ninety Nine yr leasehold spot has a property conclusion span of 60 months.
The offer for the plot closed on 25May’21, with 7 quotes gathered. The top offer was a simple 0.3percentage greater than the 2nd best bid of $4hundred million from CSC Land Grp (SGP).