The first executive condominium (EC) site in the “forest town” Tengah has been granted to Taurus Characteristic SG for $400,318,000, the Housing Board announced on Thursday (June 3). This converts to $603 per square foot per story proportion (psf ppr) for the 99-year leasehold site – a record land rate for an EC website under the government land sales (GLS) program.
The proposal smashed the previous document of $583 psf ppr gathered by the Sumang Walk EC site in Punggol, which was awarded in March 2018, kept in mind PropNex head of study and content Wong Siew Ying. It is likewise greater than the $576 psf ppr attained for the EC website in Yishun Avenue 9 that was awarded last November, she added.
” We prepare for that the prospective selling price of the new Tengah EC could float around $1,190 to $1,250 psf,” claimed Ms Wong, keeping in mind that the site’s closeness to the Jurong Innovation District might draw in house purchasers to the project. Found in Tengah Garden Walk – a roadway that has yet to be constructed – the website is around 22,020 sq m as well as has a maximum gross floor location of 61,659 sq m.
It is within walking range of 3 MRT terminals on the future Jurong Region Line as well as also near Tengah’s future car-free community centre. Taurus Properties SG, a wholly-owned subsidiary of City Developments Limited as well as joint endeavor companion MCL Land, claimed it would certainly create around 620 household devices in complete with charitable landscape design.
These units will be spread throughout 12 blocks of up to 14 storeys each, it added. Recommended future advancements around consist of a bus interchange, sports centre, area club as well as a polyclinic. Additionally, there are 12 stories of land zoned for education and learning establishments within Tengah, and all are within 2km of the EC site.
Existing primary schools within a 2km radius include Shuqun Primary School as well as Princess Elizabeth Primary School. CDL team chief executive Sherman Kwek stated the masterplan to create Tengah right into a wise as well as sustainable town is exciting. ” Currently, the demand for ECs continues to be incredibly solid as well as this augurs well for the advancement. We are honoured by the chance to develop the initial EC in this area and also to transform this expansive site right into an eye-catching and also premium quality job that future home owners would certainly take pride in,” he stated. Rich plant and also lasting features in Tengah’s brand-new Park district
Initial batch of BTO flats in Park area in Singapore’s most recent town Tengah set for launch
The tender, which was launched available last November, attracted seven proposals, consisting of offers from CSC Land Group and also a combined deal from Hoi Hup Realty as well as Sunway Developments. The EC task beings in Tengah’s Garden area, among 5 planned for the estate.
Tengah is expected to house regarding 42,000 brand-new houses when fully created. Up until now, a total amount of 11 Build-To-Order (BTO) jobs