Tengah Garden Walk EC site awarded for $400.3mil
The tender for an EC location at Tengah Garden Walk has actually been granted to Taurus Properties, a 50% co-own between CDL also MCL Ground.
Taurus Prop put forward the greatest offer of $4hundred million, that calculates to $6,492.45 per sq meter based upon gross floor area.
This is a track record land rate for an EC spot within the GLS program, outshining the early history of $Five hundred Eighty Three psf per plot ratio secured by the Sumang Walk EC plot that was assigned in Mar ’18, claimed Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and even MCL Land intend to establish twelve blks of up to fourteen levels with roughly 620 EC apartments at the location. They gave out that the property will be designed to get Building and Construction Authority Green Mark GoldPLUS (Super Low Energy) scoring according to ground tender circumstances.
Tan Wee Hsien, Chief Exec Officer of MCL Land, announced upcoming residents of the project will enjoy reliable transport connectivity alongside first class leisure lifestyle as the 99-year lease spot is set close to 3 Mass Rapid Transit terminals on the forthcoming JRL.
Within a ten min stroll to Tengah’s years to come Small town Centre, the spot is also barely a 30 min ride to Orchard Road and even the CBD.
Commenced available on 26November2020, the 22,020.8 square metre spot has an utmost gross floor area of 61,659 square metre furthermore is considered to supply Six hundred Fifteen residence apartments. The 99-year lease plot has a project completion time span of sixty mths.
The tender for the site ended on 25May’21, with seven bids obtained. The best offer was a simple 0.3percent greater than the second highest proposal of $400.2 mil from CSC Land Group (Singapore).