Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condo location at Tengah Garden Walk has recently been assigned to Taurus Prop, a 50:50 joint venture in between CDL and MCL Land.
Taurus Prop put forward the greatest quote of $400.3 mil, which works to $6thousand 4hundred 92 per sq meter based on GFA.
This is a record land fee for an exec condominium site beneath the GLS program, going beyond the past record of $Five hundred Eighty Three per sq ft ppr secured by the Sumang Walk EC area that was granted in March2K18, said Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and also MCL Land aim to construct twelve blocks of around 14 storeys with almost 6hundred 20 EC units at the plot. They shared that the blueprint will be made to acquire Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) rating based on land bidding conditions.
Tan Wee Hsien, CEO of MCL Land, stated coming future locals of the property will certainly enjoy superb transit connectivity as well as first class recreation living since the Ninety Nine year leasehold ground is situated alongside three Mass Rapid Transit stations on the future JRL.
Within a 10-minute walk to Tengah’s future Small town Centre, the ground is also less than a 30-minute trip to Orchard Rd also the CBD.
Kicked off up for sale on 26November2020, the 22,020.8 sq m plot has a highest GFA of 61thousand 6hundred 59 sq metre and also is expected to produce 6hundred 15 residence units. The 99 year leasehold ground has a property completion phase of sixty calendar months.
The tender for the area concluded on 25 May 2021, by having 7 bids acquired. The main tender was a bare 0.3percentage higher than the 2nd highest bid of $4hundred mil from CSC Land Group (S’pore).