Tengah Garden Walk EC site awarded for $400.3mil
The tender for an exec condo ground at Tengah Garden Walk has actually been awarded to Taurus Properties, a 50% joint venture involving City Developments Limited plus MCL Land.
Taurus Prop put forward the best tender of $400.3 million, in which calculates to $6,492.45 per sq meter based upon gross floor area.
This is a log ground fee for an EC plot within the GLS programme, surpassing the previous track record of $583 psf per plot ratio secured by the Sumang Walk EC spot that was awarded in Mar2K18, claimed Wong Siew Ying, Chief of Research and Content at PropNex.
CDL and even MCL Land layout to erect twelve blks of around 14 floors with about Six hundred Twenty EC apartments at the ground. They posted that the proposal will certainly be made to attain BCA Green Mark GoldPLUS (Super Low Energy) evaluation according to land tender issues.
Tan Wee Hsien, Chief Executive Officer of MCL Land, reported upcoming occupants of the project will enjoy effective travelling connection in addition to best-in-class recreational lifestyle considering the 99-year leasehold plot is placed near three MRT stations on the future Jurong Region Line.
Within a 10 minute stroll to Tengah’s upcoming Town Hub, the site is similarly no more than a 30-minute trip to Orchard Rd and also the CBD.
Released offer for sale on 26Nov2020, the Twenty Two thousand Twenty sq m ground has a ceiling gross floor area of 61thousand 6hundred 59 sq metre as well as is predicted to produce Six hundred Fifteen home units. The 99-year lease plot has a project conclusion phase of 60 months.
The tender for the area ended on 25May’21, with 7 offers gained. The highest offer was a mere 0.3% greater than the second-highest offer of $4hundred mil from CSC Land Group (Singapore).