Jalan Anak Bukit site awarded to Far East Organization, Sino Group

The tender for a residential and business location at Jalan Anak Bukit has already been granted to Far East Org and also Sino Group, which collectively put the strongest price of about $1.028 million by using several companies including, FE Landmark, FEC Residences Trustee, and also FEC Retail Trustee.

Opened for marketing on 30Jun2020 with the dual-envelope principle and also price profits tender system, the Three point Twenty Two ha location is situated at the junction of Jalan Jurong Kechil and Upper Bt Timah Road, close to the Beauty World Mass Rapid Transit Station.

The 99 year leasehold plot, that possesses an allowable GFA of 96.555K sq m, drew in five proposals in the course of the termination of its offer on 29June2K21.

Urban Redevelopment Authority clarified in which the approach and also rate revenue tender system was adopted to “list professional project ideas that are attractive and respond satisfactorily to the vicinity ambience, with expressive combination of amenities joined through a seamless transport of pedestrian-friendly roads and effectively concept common areas”.

Penrose condominium

Far East Organization as well as Sino Grp had tendered three a variety of proposals and concept pitches beneficial to the location.

Urban Redevelopment Authority revealed the triumphing principle pitch “is compelling in its own thoughtful spot creating, design feedback to sunny weather condition and even combination of the different benefits and also social spaces”.

Notably, the suggested mixed purpose project by FEO and Sino Group included a combined transport hub that comes with a bus interchange on the 2nd storey in addition to commercial and public places at the 1st 3 storeys along Jalan Jurong Kechil as well as Upper Bt Timah Road.

“The layout displays a well conceived layout method in its broadly spread foundation with a well-considered tropic layout effect,” considered Urban Redevelopment Authority.

Huttons Asia Chief executive officer Mark Yip said the blended land rate is $9hundred 89 per square ft per PR, that is on par with market following taking into account location including local market positions.

“Within the tender docs, the peak gross floor area for the home aspect is around Seventy Five % of overall GFA which implies the approximated land price is roughly $1thousand 3hundred per square ft per PR. Nevertheless the amount might differ counting on ways the developer creation the complete approach,” he said further.

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