The tender for an EC spot at Tengah Garden Walk has recently been granted to Taurus Prop, a 50:50 co-own between City Developments Limited and MCL Ground.
Taurus Properties handed in the strongest proposal of $400.3 mil, which works to $6thousand 4hundred 92 per square m based upon GFA.
This is a log land rates for an EC site under the GLS program, surpassing the past track record of $5hundred 83 psf ppr accomplished by the Sumang Walk EC plot that was allocated in March’18, shared Wong SY, Chief of R&C at PropNex.
City Developments Limited also MCL Land aim to put together twelve blocks of up to 14 levels with roughly 620 executive condominium apartments at the ground. They posted that the project will definitely be designed to acquire BCA Green Mark GoldPLUS (Super Low Energy) scoring according to land bidding issues.
Tan Wee Hsien, CEO of MCL Land, reported potential individuals of the property will delight in impressive transportation connection in addition to best-in-class recreational lifestyle given that the Ninety Nine yr rental location is placed near 3 Mass Rapid Transit stations on the approaching JRL.
Within a 10-minute stretch to Tengah’s coming future Town Hub, the plot is moreover less than a thirty minute ride to Orchard Road and even the CBD.
Introduced to sell on 26 November ’20, the 22,020.8 square m area has an optimum gross floor area of 61,659 sq metre and even is considered to yield 615 living apartments. The 99-year lease spot has a property completion span of 60 calendar months.
The offer for the site concluded on 25May2021, by having seven offers picked up. The main quote was a small 0.3percentage higher than the second-highest bid of $4hundred mil from CSC Land Group (SGP).