Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC plot at Tengah Garden Walk has actually been presented to Taurus Properties, a 50% co-own in between CDL and also MCL Ground.
Taurus Prop handed in the best tender of $4hundred million, that calculates to $6thousand 4hundred 92 per square meter based on GFA.
This is a log ground price for an executive condo site within the GLS programme, going beyond the former record of $Five hundred Eighty Three per square ft ppr attained by the Sumang Walk exec condominium area that was granted in March’18, announced Wong SY, Head of Research and Content at PropNex.
City Developments Limited and even MCL Land aim to develop twelve blks of approximately fourteen levels with close to 620 EC units at the spot. They gave out that the blueprint will certainly be constructed to attain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status according to ground tender conditions.
Tan WH, CEO of MCL Land, shared potential citizens of the property will definitely take pleasure in exceptional transporting connectivity as well as premium leisure lifestyle as the Ninety Nine year leasehold location is placed alongside 3 Mass Rapid Transit stations on the future JRL.
Within a 10 min stroll to Tengah’s future Small town Centre, the plot is at the same time lower than a 30-minute travel to Orchard Rd and even the Central Business District.
Kicked off for sale on 26Nov2020, the 22,020.8 sq meter spot has a max GFA of Sixty one thousand Six hundred Fifty nine sq metre and also is expected to yield Six hundred Fifteen residential units. The 99-year lease site has a project wrap-up duration of 60 months.
The tender for the area ended on 25May’21, by having seven proposals accepted. The leading proposal was a small 0.3percent greater than the 2nd top quote of $400.2 million from CSC Land Group (SGP).