Tengah Garden Walk EC site awarded for $400.3mil
The bidding for an EC area at Tengah Garden Walk has already been awarded to Taurus Properties, a 50% alliance amongst CDL and MCL Ground.
Taurus Properties put forward the top tender of $400.3 million, which in turn works to $Six thousand Four hundred Ninety Two per sq m based on GFA.
This particular is a log land figure for an EC location beneath the Government Land Sales program, outperforming the older log of $583 per sq ft ppr achieved by the Sumang Walk EC ground that was presented in Mar2018, mentioned Wong SY, Chief of R&C at PropNex.
CDL also MCL Land proposal to put together twelve blks of until fourteen storeys with roughly 6hundred 20 EC units at the spot. They published that the blueprint is going to be constructed to obtain BCA Green Mark GoldPLUS (Super Low Energy) rating based on ground bidding situations.
Tan WH, CEO of MCL Land, shared potential home owners of the property are going to enjoy reliable transportation connection together with premium recreation living considering that the 99 year lease plot is placed in close proximity to three MRT stations on the approaching Jurong Region Line.
Within a 10-minute walk to Tengah’s future Town Hub, the plot is at the same time beneath a 30-minute ride to Orchard Road and the Central Business District.
Opened offer for sale on 26November’20, the Twenty Two thousand Twenty sq meter site has a peak GFA of 61thousand 6hundred 59 sq metre and is expected to supply 615 residence units. The 99-year lease ground has a project wrap-up span of sixty calendar months.
The tender for the area ceased on 25 May ’21, with seven quotes picked up. The leading offer was a little 0.3% greater than the second best offer of $Four hundred mil from CSC Land Grp (S’pore).