Tengah Garden Walk EC site awarded for $400.3mil
The bidding for an EC site at Tengah Garden Walk has been assigned to Taurus Properties, a 50% co-own amongst City Developments Limited and MCL Land.
Taurus Prop submitted the best tender of $4hundred mil, which in turn formulates to $6thousand 4hundred 92 per square meter based upon GFA.
This particular is a track record land price for an EC plot within the Government Land Sales programme, beating the previous track record of $583 per sq foot per plot ratio secured by the Sumang Walk EC area that was allocated in March’18, claimed Wong SY, Chief of R&C at PropNex.
City Developments Limited plus MCL Land arrange to put together twelve blocks of up to 14 floors with approximately Six hundred Twenty EC units at the ground. They posted that the blueprint is going to be created to obtain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status as per land tender conditions.
Tan Wee Hsien, CEO of MCL Land, mentioned potential homeowners of the project are going to appreciate outstanding transit connectivity including first class recreational lifestyle as the Ninety Nine yr rental area is located near three Mass Rapid Transit terminals on the forthcoming Jurong Region Line.
Within a ten min stroll to Tengah’s upcoming Town Hub, the location is additionally barely a 30-minute trip to Orchard Road as well as the CBD.
Kicked off to sell on 26Nov’20, the Twenty Two thousand Twenty square metre plot has a peak GFA of Sixty one thousand Six hundred Fifty nine square m and also is assessed to generate Six hundred Fifteen housing units. The 99-year lease area has a property wrap-up span of sixty months.
The bidding for the spot closed on 25 May 2021, with seven quotes gained. The main proposal was a small 0.3% more than the second-highest bid of $4hundred mil from CSC Land Group (S’pore).