Riverfront Residences | Hougang Avenue 7 Condo | Former Rio Casa
Riverfront Residences is a brand new condominium development at Hougang Avenue 7, District 19. This river facing project is the former Rio Casa HUDC that was sold collectively to Oxley-Lian Beng Venture PTE LTD in an en bloc deal for $575 million. On top of the purchase price, developer have to top up the lease to a fresh 99 years for a differential premium of $208 million which also includes the development for a gross plot ratio to 2.8.
VVIP PREVIEW 23rd June 2018!
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The new Riverfront Residences condo sits on the former Rio Casa land which only had 286 units comprising of apartments and maisonettes spread into 7 blocks. Targeting at the extremely low density nature and a beautiful 200 meters river frontage, the property was put up for sale in April 2017 after 80 percent of the owners given their consensus to proceed. The massive plot of land spans about 396,231 square feet and with the plot ratio of 2.8, the land price of Riverfront Residences psf works out to be about $706 per square foot per plot ratio (psf ppr).
Bearing a permissible gross floor area (GFA) of approximately 1,109,447 square feet, Riverfront Residences is potentially allowed to redeveloped to about 1400 residential units basing on an average size of 65 square meters each. The joint venture for this $1.4 billion development comprises of Oxley Holdings which holds a 35% stake, KSH Holdings which also holds another 35%, Lian Beng Group at 20% and Apricot Capital at 10%. Based on the land costs and other factors, it is expected that the Riverfront Residences price will be in the range of $1400 to $1600 psf.
Analyst expect Riverfront Residences to be in good demand considering the lack of new condominium launches in the mid to short term. Some nearby condos which are older include Rio Vista, The Florida, Boathouse Residences, Heron Bay, Parc Vera and Evergreen Park. There is only one project so far which is Kingsford Waterbay where they are 95% sold at the time of writing and to be completed by 1st quarter of 2019. Looking at the market sentiments and activities in District 19 generally, Riverfront Residences should see great interest from buyers who have been living in the area.
A typical project should take about 2 to 3 years to be built and ready for keys collection. However in this case, it is expected that Riverfront Residences TOP date should be around year 2022 considering that more work has to be done to demolish and rebuild this huge development of more than 1000 units.
|Unit Type||Typical Size||Total Units|
|Riverfront Residences 1 Bed||463-581||281|
|Riverfront Residences 1 + Study||517-635||202|
|Riverfront Residences 2 Bedroom||603-689||262|
|Riverfront Residences 2 Bedroom Premium||721-861||168|
|Riverfront Residences 3 Bedroom||872-1087||232|
|Riverfront Residences 3 Bedroom Premium||1066-1292||204|
|Riverfront Residences 4 Bedroom||1410-1625||34|
|Riverfront Residences 4 Bedroom Premium(Private lift)||1485-1711||51|
|Riverfront Residences 5 Bedroom Premium(Private lift)||1679-1905||17|
|Riverfront Residences Strata Terrace(4 bedrooms, private Carpark 3 levels)||2109||21|
|Riverfront Residences Shops||603||6|
Why Riverfront Residences ?
- Good Schools in the vicinity – Riverfront Residences is home to many good educational institutions and it is the least that any parents residing here should worry about. Schools such as CHIJ Our Lady of The Nativity, Holy Innocents’ Primary School, Punggol Primary School, Monfort Primary School, North Vista Primary School, Palm View Primary School, Yio Chu Kang Primary School, Xinghua Primary School, North Spring Primary School, Holy Innocents’ High School, Serangoon Secondary School, North Vista Secondary School, Montfort Secondary School, Seng Kang Secondary School and Yuying Secondary School are all within close proximity to Riverfront Residences.
- Rare locale with recreational facilities – Riverfront Residences location is extremely unique. It allows residents to enjoy the best of both worlds where plenty of amenities are within reach and at the same time get to being able to relish in its tranquil surroundings.Attaining an advantage from a en-bloc, Riverfront Residences sits on a prime plot of land
within the Hougang precinct. With the Sungei Serangoon river fronting the condominium, residents will get to enjoy the rare river view in Singapore right at the comfort of the balcony. Sungei Serangoon is a 8 kilometers long river that starts from Tampines Road as a canal, with water passing by Hougang, joined by Sungei Pinang and Sungei Blukar, and finally into Serangoon reservoir.
Right beside the beautiful stream of Sungei Serangoon, there is the Serangoon Park Connector that stretches along with the river all the way to Punggol. If joggers of Riverfront Residences would like to inhale some fresh air while running, they can head over to this connector which links Punggol Park, Lorong Halus Wetland Park &visitor center, Coney Island and even to Sengkang Riverside Park. Just a side note that the connector allow cyclists too!
- Great amenities – Riverfront Residences is surrounding by a plethora of amenities that provide conveniences to residents. It is near to various malls such as The Midtown, also
jointly developed by Oxley-Lian Beng, where there are 107 commercial shops comprising of a supermarket(operated by UStars Supermarket), retail stores, Food & Beverages and services shops. Finishing building in year 2016, it has 160 residential units above and is only approximately 3 minutes walk away from Hougang MRT and 5 minutes stroll to Riverfront Residences condo.
Just slightly further, there is the busiest mall in Hougang central, the Hougang Mall. Previously known as NTUC Hougang Mall, it started
operation in 1997 with a food court occupying the entire fifth floor. In 2006, the mall underwent a renovation which transformed part of the level 2 into a food cluster and level 5 into a playground together with some shops. The complex spans a 217,000 square feet gross area comprising some 134 shops which will definitely bring convenience to dwellers of Riverfront Residences.
- Transportation and accessibility – Riverfront Residences has all it takes to be considered a good location in terms of connectivity. A mere 8 minutes stroll away, residents can get to
Hougang MRT station that serves the North East Line(NEL). NEL is the world’s first automated underground driverless heavy rail rapid transit line. It is 20 kilometres in length with 16 stations. From Hougang station where Riverfront Residences condo is nearby, it is only 2 stops away from Sengkang with Compass One shopping mall and Serangoon Central which is an MRT interchange that also serves the Circle Line, 3 stops away from Punggol where Punggol Waterway point is, 8 stops away from Dhoby Ghaut MRT Interchange that serves the North South Line / Circle Line, 9 stops away from Clarke Quay and 12 stops away from Harbourfront where Vivo City is located.
On top of the convenience that the MRT station is within close proximity to Riverfront Residence Hougang Avenue 7, it is also well served by a good number of public buses especially along Upper Serangoon Road. There are a whopping 12 bus services that connect commuters to Hougang Central Bus Interchange, Punggol Central, Ang Mo Kio Central, Marymount / Thomson area, Holland, City Hall, Clarke Quay, Central Business District(CBD), Harbourfront and all the way to Clementi.
Riverfront Residences is also a breeze to travel to via vehicle. Motorists can easily access to the places of interest like the CBD and Orchard area via the Paya Lebar Expressway(KPE), which also link drivers to the Pan Island Expressway(PIE) and Marina Coastal Expressway(MCE). Towards the North, drivers can get to the Tampines Expressway(TPE) which links Central Expressway(CTE), the Seletar Expressway(SLE) en route Woodlands and Singapore Changi airport. Westward of Riverfront Residences is the CTE where it is connected to nearly all central places of interests such as the Orchard Shopping Belt, CBD etc. It is indeed extremely accessible to and from anywhere at Riverfront Residences!
- Renowned developer – Riverfront Residences developer is no other than the well known and highly active local developer Oxley Holdings. Joining venture with Lian Beng Group, KSH Holdings and Apricot Capital, this will be their second collaboration following the preparation for preview in Affinity at Serangoon.Oxley is extremely active in the property development business recently with many joint ventures
or sole acquisition of land either from government land sales or en bloc. In fact during early 2018, there were holding the largest land bank in Singapore! Impressively, they are a considerable young organisation with slightly more than a decade of property and construction experience. They are well known for developing affordable private residential properties prior to bigger projects such as Riverfront Residences. This is because of its founder’s sharp foresight of the gap in the market and the increasing demand of such properties among young working adults. Some of their successfully sold out projects include The Rise @ Oxley / Oxley Residences, The Flow at Katong, King Albert Residences, Floraville at Yio Chu Kang precinct, Flora Vista, The Midtown & Midtown Residences, The Commerze @Irving, T Space at Tampines, Newest at West Coast, Oxley Bizhub & Oxley Bizhub 2 at Ubi, Robinson Square, Devonshire Residences at Devonshire road, Oxley Edge at River Valley, Ecotech @ Sunview, The Promenade @ Pelikat, Parc Somme, Suites @ Katong, Loft @ Rangoon, Arcsphere, Loft @ Stevens, Loft @ Holland, Viva Vista, Vibes @ Kovan, Vibes @ East Coast, RV Point, Suites @ Braddell, Presto @ Upper Serangoon and Vibes @ Upper Serangoon. Also, they have a couple of projects that are still in stock or in the pipeline together with Riverfront Residences condo such as Verandah Residences at Pasir Panjang, Sea Pavillion at Upper East Coast Road, Affinity at Serangoon located at Serangoon North Avenue 1 and Sixteen35 Residences.
Also a locally listed firm and holding the same stake of 35% in Riverfront Residence is KSH Holdings. They are a well established local company with a wealth of experience since its
incorporation in 1979. The firm has been focusing on construction, property developments and investments. They have a vision to be the leading company in Singapore’s building and construction services. They have a long list of successfully completed projects in commercial, industrial, institutional and residential segments and are involved in their development or construction. Prior to Riverfront Residences, they are also in collaboration with Chip Eng Seng and Heeton Holdings with the land bid of a plum Woodleigh site right beside MRT and will soon start development works of the condo Park Colonial.
- Exciting Facilities – Riverfront Residences condo will have a luxury of astonishing facilities awaiting for residents to have fun, relax and keep fit. Complementing the tranquil, river facing environment that the former Rio Casa new Hougang condo already possesses, it will feature a
generous 50 meters lap pool for avid swimmers, a number of barbecue pits for the weekend gathering with friends / family, a good size clubhouse to celebrate your baby shower / birthdays or probably a pot luck, pavilions that are overlooking greenies to just relax your mind after a long week at work, wading pools for the children to have a fun time and a gymnasium to maintain your fitness at you disposal. Riverfront Residences review has all it takes for an ideal family oriented lifestyle that everyone yearns for, it also brings another meaning to living as a whole.
- Dynamic layouts – It is never easy to design layouts that are fully functional and complementing to the facade architecturally. Riverfront Residences floor plans should be well thought of and will present only practical usage of space, maximising every buck paid by its buyers.From their previous projects with similar land size, it is believed that Riverfront Residences will feature unit mixes such as a 1 bedroom that are suitable for investors looking to rent out their unit or young singles and couples as a head start in their lives, 2 / 3 bedrooms for young family start ups, 4 / 5 bedrooms and larger units for the multi generation whom treasures living with extended families.
Riverfront Residences Prices
Please kindly call to enquire on Riverfront Residences availability before visiting. Thank you.
1 bedroom: From $578,000
1 bedroom + study: From $648,000
2 bedroom: From $755,000
2 bedroom Premium: From $872,000
3 bedroom: From $1,070,000
3 bedroom Premium: From $1,260,000
4 bedroom: From $1,680,000
4 bedroom PTE Lift: From $1,790,000
5 bedroom: From $1,970,000
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