Tengah Garden Walk EC site awarded for $400.3mil
The offer for an EC area at Tengah Garden Walk has already been awarded to Taurus Properties, a 50% co-own among CDL and also MCL Land.
Taurus Prop submitted the greatest tender of $Four hundred million, which works to $6thousand 4hundred 92 per sq meter based upon gross floor area.
This is a history land price for an EC site within the Government Land Sales programme, outshining the former track record of $583 per sq foot ppr obtained by the Sumang Walk EC area that was presented in Mar2K18, stated Wong SY, Chief of Research and Content at PropNex.
City Developments Limited along with MCL Land arrange to establish 12 blocks of as much as fourteen storeys with approximately 6hundred 20 executive condominium apartments at the spot. They published that the project is going to be produced to attain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status as per land tender situations.
Tan WH, Chief Executive Officer of MCL Land, shared upcoming individuals of the project will certainly delight in outstanding travelling connectivity together with best-in-class leisure living since the Ninety Nine yr lease spot is situated alongside three MRT stations on the approaching JRL.
Within a 10-minute walk to Tengah’s upcoming Town Hub, the site is similarly beneath a 30 minute commute to Orchard Rd and even the CBD.
Introduced to sell on 26November2K20, the Twenty Two thousand Twenty sq m site has a ceiling GFA of 61,659 sq meter and even is predicted to supply Six hundred Fifteen housing apartments. The Ninety Nine yr leasehold spot has a project conclusion duration of 60 mths.
The offer for the location closed on 25May2K21, with 7 offers gathered. The top tender was a simple 0.3% higher than the second-highest quote of $Four hundred mil from CSC Land Grp (Singapore).