El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites

The offer for the 99-year leaseterm plots was launched on 15Jun beneath the Approved Lineup of the first half 2021 GLS program.

El Development tendered the premier quote of $3hundred 20 point 1 mil or $1,246 per sq foot per plot ratio for Plot A, that covers 7,957.3 square meters. The location has an utmost GFA of 23,872 sq metre also can produce Two hundred Sixty Five homes units with a retail limit of 8hundred square metre in GFA.

“The highest proposal was actually simply One point Three percent exceeding the following top bid from Gao Xiu Hua, that peak the offer for Parcel B,” revealed CBRE’s Head of Research study for Southeast Asia Tricia Song.

Gao Xiu Hua, who is suspected to be the wife of the Chairman of Kingsford Development, put forward the top tender for Parcel B at $162.4 million or $1thousand 2hundred 10 per sq feet per PR. This number one price was 2.4 percentage exceeding the second greatest proposal from TID Home.

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Spanning 5,936.6 square m, the spot has an utmost gross floor area of 12thousand 4hundred 67 sq metre as well as can provide 1hundred 40 private houses along with a retail cap of Four hundred square metre in gross floor area.

“Land A’s land price is more than Plot B’s, likely due to Parcel A’s closer distance to the Buona Vista MRT station,” Tricia included.

She accredited the powerful curiosity for the plots to its “reasonably acceptable measurements, the expanding nature at the advancing one-north R&D company hub, and also limited brand new real estate amount around”.

As a matter of fact, the spots outperformed a past residence spot at Slim Barracks Rise, that gained a premier tender of $1thousand 1 psf ppr at the time of the end of its offer in September’19.

It was later on become One-north Eden, the units of that were marketed at a mean price of $2,009 psf, shared Song.

For both spots, Tricia predicts the development getting sold at higher than $2,100 per square foot once launched.

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