El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites

The tender for the 99 year lease term sites was kicked off on 15June beneath the Approved Listing of the 1st 6 months ’21 Govt Land Sales plan.

El Development handed in the number one price of $320.1 mil or $1,246 psf per plot ratio for Plot A, that spans 7,957.3 sq m. The plot possesses a max GFA of 23,872 square meter and can offer 265 property units with a retail cap of 8hundred sq metre in gross floor area.

“The premier offer was actually simply 1.3 percentage higher than the next highest offer from Gao Xiu Hua, that got the tender for Plot B,” shared CBRE’s Head of Research study for SE Asia Tricia Song.

Gao Xiu Hua, who is suspected to be the better half of the Chairman of Kingsford Development, submitted the main offer for Parcel B at $1hundred 62 point 4 million or $1thousand 2hundred 10 per square foot per plot ratio. This particular number one tender was Two point Four percentage greater than the second highest bid from TID Home.

Covering 5,936.6 square metre, the location has a total gross floor area of 12,467 square m and also could possibly supply 140 private apartments together with a retail cap of 400 sq m in GFA.

Penrose Condo Price

“Parcel A’s property rate is exceeding Plot B’s, likely due to Land A’s shorter distance to the Buona Vista Mass Rapid Transit station,” Tricia boosted.

She referred the healthy enthusiasm for the locations to their “rather tasty measurements, the rising catchment at the blooming one-north R&D firm center, as well as controlled brand-new real estate source around”.

In reality, the locations exceeded an older house location at Slim Barracks Rise, in which got a highest quote of $1,001 per square ft ppr in the course of the completion of its offer in September2019.

It was later on turned into One-north Eden, the apartments of which were generally offered at a median amount of $2,009 psf, mentioned Song.

For the 2 plots, Tricia expects the projects getting marketed at higher than $Two thousand One hundred psf once opened.

error: Content is protected !!