Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC ground at Tengah Garden Walk has recently been assigned to Taurus Prop, a 50:50 partnership involving CDL also MCL Land.
Taurus Prop filed the strongest offer of $Four hundred million, that works to $Six thousand Four hundred Ninety Two per sq meter based on gross floor area.
This is a log ground rate for an executive condominium area beneath the Government Land Sales programme, surpassing the former log of $583 per sq ft ppr acquired by the Sumang Walk exec condominium plot that was assigned in March2K18, said Wong SY, Chief of Research and Content at PropNex.
City Developments Limited together with MCL Land plan to establish 12 blks of approximately 14 floors with almost 6hundred 20 EC units at the spot. They gave out that the project is going to be designed to acquire BCA Green Mark GoldPLUS (Super Low Energy) rating as per ground tender issues.
Tan WH, Chief Executive Officer of MCL Land, claimed potential locals of the project will take pleasure in excellent transport connectivity as well as premium recreational living because the 99 year lease site is placed near three Mass Rapid Transit terminals on the approaching JRL.
Within a 10 min stretch to Tengah’s years to come Community Hub, the spot is at the same time lower than a thirty min ride to Orchard Road and the Central Business District.
Commenced to buy on 26November2K20, the 22,020.8 sq metre ground has a ceiling gross floor area of Sixty one thousand Six hundred Fifty nine sq meter and is figured to produce 615 living apartments. The 99-year lease location has a property fulfillment time span of 60 mths.
The offer for the plot wrapped up on 25 May ’21, with seven tenders gathered. The major proposal was a little 0.3percent over the second top bid of $Four hundred million from CSC Land Group (Singapore).