Tengah Garden Walk EC site awarded for $400.3mil
The tender for an executive condominium plot at Tengah Garden Walk has recently been presented to Taurus Prop, a 50:50 partnership among CDL as well as MCL Land.
Taurus Properties handed in the highest quote of $400.3 mil, which in turn works to $6,492.45 per sq meter based upon GFA.
This is a record land rate for an executive condo area within the Government Land Sales programme, beating the former log of $Five hundred Eighty Three psf ppr gotten by the Sumang Walk EC ground that was allocated in March2K18, said Wong Siew Ying, Chief of R&C at PropNex.
City Developments Limited also MCL Land plan to put together 12 blocks of as high as 14 levels with almost 620 EC apartments at the spot. They published that the blueprint will be made to attain BCA Green Mark GoldPLUS (Super Low Energy) scoring as per ground tender situations.
Tan Wee Hsien, CEO of MCL Land, claimed potential locals of the property will definitely appreciate amazing transporting connection as well as first class leisure lifestyle considering that the 99 year rental area is situated near 3 Mass Rapid Transit terminals on the approaching Jurong Region Line.
Within a 10-minute stroll to Tengah’s coming future Community Centre, the area is similarly barely a 30 minute trip to Orchard Rd furthermore the Central Business District.
Opened to buy on 26November’20, the 22thousand 20 square meter area has an optimum GFA of Sixty one thousand Six hundred Fifty nine square meter and is estimated to produce Six hundred Fifteen housing units. The 99 year leasehold location has a property finalization time frame of 60 calendar months.
The bidding for the area ended on 25May’21, with seven proposals received. The best bid was a simple 0.3% more than the second-highest tender of $Four hundred mil from CSC Land Group (S’pore).