Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condo ground at Tengah Garden Walk has already been granted to Taurus Properties, a 50:50 partnership linking City Developments Limited also MCL Ground.
Taurus Prop sent the top bid of $400.3 million, in which works to $6thousand 4hundred 92 per sq m based upon gross floor area.
This is a log land rate for an EC plot beneath the Government Land Sales programme, beating the early history of $5hundred 83 psf per plot ratio attained by the Sumang Walk executive condominium plot that was granted in Mar2018, claimed Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and also MCL Land layout to establish 12 blocks of until fourteen levels with close to 6hundred 20 executive condominium apartments at the location. They shared that the proposal will definitely be constructed to attain BCA Green Mark GoldPLUS (Super Low Energy) ranking as per ground bidding issues.
Tan Wee Hsien, CEO of MCL Land, claimed potential citizens of the project will definitely take pleasure in top-notch commuter connectivity as well as first class recreation lifestyle given that the 99-year rental ground is positioned nearby 3 Mass Rapid Transit terminals on the future JRL.
Within a ten minute stretch to Tengah’s future Small town Centre, the area is likewise shorter than a 30 minute drive to Orchard Rd as well as the Central Business District.
Launched offer for sale on 26November’20, the Twenty Two thousand Twenty square meter plot has a maximum gross floor area of 61,659 sq m and is expected to produce Six hundred Fifteen residential units. The Ninety Nine year rental site has a project conclusion period of time of sixty calendar months.
The bidding for the ground ended on 25 May 2021, with 7 offers took in. The major tender was a minor 0.3% over the second best offer of $4hundred mil from CSC Land Group (S’pore).