Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condominium site at Tengah Garden Walk has recently been allocated to Taurus Prop, a 50:50 joint venture among City Developments Limited and MCL Land.
Taurus Properties put forward the highest tender of $4hundred million, which works out to $6thousand 4hundred 92 per sq meter based upon gross floor area.
This is a track record land price for an executive condo area under the GLS programme, exceeding the former track record of $Five hundred Eighty Three psf ppr attained by the Sumang Walk EC site that was presented in Mar2K18, claimed Wong Siew Ying, Head of R&C at PropNex.
CDL plus MCL Land layout to build twelve blocks of up to 14 floors with close to 6hundred 20 executive condominium units at the spot. They gave out that the proposal will certainly be made to obtain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) rating according to ground bidding circumstances.
Tan Wee Hsien, Chief Exec Officer of MCL Land, said prospective citizens of the project will experience fantastic commuter connection together with first class recreation living considering the 99-year leasehold spot is positioned alongside three Mass Rapid Transit stations on the future JRL.
Within a 10-minute stretch to Tengah’s upcoming Small town Hub, the plot is similarly beneath a 30 min drive to Orchard Road and also the Central Business District.
Opened available for sale on 26 Nov ’20, the 22thousand 20 square metre area has a maximum GFA of 61,659 square metre and even is approximated to provide 6hundred 15 residential units. The 99-year rental plot has a project conclusion duration of sixty mths.
The tender for the plot concluded on 25May2K21, by having seven offers gained. The highest bid was a mere 0.3percent more than the next highest proposal of $400.2 million from CSC Land Grp (Singapore).