Tengah Garden Walk EC site awarded for $400.3mil
The offer for an exec condominium site at Tengah Garden Walk has already been presented to Taurus Prop, a 50:50 co-own between City Developments Limited as well as MCL Ground.
Taurus Prop submitted the top quote of $4hundred million, that works to $Six thousand Four hundred Ninety Two per sq meter based on GFA.
This is a history ground rates for an EC plot beneath the GLS programme, surpassing the previous track record of $Five hundred Eighty Three per sq foot per plot ratio attained by the Sumang Walk EC site that was allocated in Mar’18, claimed Wong Siew Ying, Head of R&C at PropNex.
CDL together with MCL Land intent to put together twelve blocks of as high as 14 levels with roughly 6hundred 20 EC units at the ground. They posted that the proposal will be designed to accomplish Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) rating as per land bidding issues.
Tan WH, CEO of MCL Land, reported upcoming homeowners of the property will certainly experience impressive commuter connection including premium recreational living as the 99 year rental spot is located close to 3 MRT terminals on the future Jurong Region Line.
Within a 10-minute walk to Tengah’s years to come Neighborhood Centre, the spot is additionally lower than a 30 min drive to Orchard Road as well as the CBD.
Introduced offer for sale on 26November’20, the Twenty Two thousand Twenty square m plot has a maximum gross floor area of 61,659 sq metre furthermore is estimated to supply Six hundred Fifteen home units. The 99-year rental site has a property completion phase of 60 mths.
The tender for the site concluded on 25 May ’21, by having seven tenders gathered. The best quote was a bare 0.3percentage higher than the second-highest bid of $Four hundred million from CSC Land Grp (Singapore).