Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC plot at Tengah Garden Walk has recently been granted to Taurus Prop, a 50% partnership concerning City Developments Limited also MCL Land.
Taurus Properties put forward the largest proposal of $Four hundred mil, and that works out to $6,492.45 per square m based on GFA.
This is a history land price for an EC area beneath the GLS programme, surpassing the previous track record of $5hundred 83 per square ft per plot ratio accomplished by the Sumang Walk EC plot that was assigned in Mar ’18, shared Wong SY, Head of Research and Content at PropNex.
City Developments Limited along with MCL Land intent to build 12 blks of as much as 14 floors with approximately 6hundred 20 executive condominium units at the spot. They published that the proposal will definitely be produced to obtain Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) status as per land tender situations.
Tan WH, CEO of MCL Land, reported prospective home owners of the property will certainly take pleasure in excellent commuter connectivity as well as top-notch recreation lifestyle considering the 99 year rental site is situated in close proximity 3 MRT stations on the upcoming JRL.
Within a ten min walk to Tengah’s years to come Neighborhood Centre, the ground is likewise beneath a 30-minute commute to Orchard Road and also the CBD.
Introduced available for sale on 26Nov2020, the Twenty Two thousand Twenty square m spot has a ceiling gross floor area of Sixty one thousand Six hundred Fifty nine sq metre and even is assessed to yield 615 living apartments. The 99-year rental location has a property conclusion time frame of sixty months.
The offer for the area concluded on 25May2021, with 7 offers gathered. The greatest proposal was a simple 0.3% more than the second-highest proposal of $4hundred mil from CSC Land Grp (S’pore).