Tengah Garden Walk EC site awarded for $400.3mil
The offer for an executive condo ground at Tengah Garden Walk has been assigned to Taurus Prop, a 50% joint venture among CDL plus MCL Ground.
Taurus Properties sent the greatest bid of $Four hundred mil, that works out to $Six thousand Four hundred Ninety Two per sq meter based on gross floor area.
This is a track record ground fee for an EC location within the Government Land Sales program, beating the previous log of $583 per square foot per plot ratio secured by the Sumang Walk executive condo spot that was presented in March2018, shared Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and even MCL Land intent to build 12 blks of as high as 14 storeys with close to Six hundred Twenty executive condominium units at the site. They published that the property will be created to get Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) evaluation based on land bidding situations.
Tan Wee Hsien, Chief Executive Officer of MCL Land, said future occupants of the project are going to take pleasure in effective travelling connection alongside best-in-class leisure lifestyle considering the 99-year lease plot is positioned in close proximity to three MRT stations on the future Jurong Region Line.
Within a 10 min stroll to Tengah’s years to come Neighborhood Centre, the ground is at the same time lower than a 30 min drive to Orchard Road as well as the CBD.
Debuted available on 26 Nov 2K20, the 22,020.8 sq meter site has an utmost gross floor area of 61,659 sq meter as well as is predicted to produce Six hundred Fifteen home units. The 99-year leasehold spot has a project completion time span of sixty calendar months.
The tender for the location concluded on 25May2021, by having seven quotes picked up. The main quote was a bare 0.3percentage greater than the second highest quote of $Four hundred mil from CSC Land Grp (SGP).
