Ang Mo Kio 99-year private lodging plot draws 15 offers; Tengah EC plot, seven offers

A 99-year leasehold private lodging site in Ang Mo Kio Avenue 1, sited inverse the Bishan-Ang Mo Kio Park, has drawn 15 offers at a state delicate that shut on Tuesday.

The most noteworthy bid of S$381.38 million or almost S$1,118 per square foot per plot proportion (psf ppr), came from a 60:20:20 joint endeavor between UOL Group, Singapore Land Group and Kheong Leong Company.

This was 6.3 percent higher than the second most noteworthy bid of S$358.89 million or S$1,052 psf ppr from Titus Residential SG, a restrict between City Developments Ltd (CDL) and MCL Land.

Likewise offering for the site was a restrict between Far East Organization, Sino Group and Sekisui House, which offered S$353.33 million or S$1,036 psf ppr.

UOL boss speculation and resource official, Jesline Goh, said: “We intend to foster a 24-25 story undertaking of in excess of 370 units that will appreciate unblocked perspectives on the Bishan-Ang Mo Kio Park, Lower Peirce Reservoir Park and Shangri-la Park landed lodging domain. It is an ideal renewal for our territory bank, given that Avenue South Residence and Clavon are more than 65% and 80 percent sold individually.

“Aside from being in a famous private town complete with solid conveniences, the site will actually want to ride on the close by Mayflower MRT station, which is because of open this year. Great schools like CHIJ Saint Nicholas Girls’ School and Ai Tong School are additionally nearby.

“We like this site all things considered in the Outside Central Region, what has similar qualities like our other generally welcomed projects dispatched as of late. As this is the most recent Government Land Sales site in Ang Mo Kio over the most recent seven years, we accept there will be sound interest for the venture.”

The delicate for the site was led by Urban Redevelopment Authority (URA).

Additionally shutting on Tuesday was the delicate for the lady chief townhouse (EC) lodging site in the Tengah home in western Singapore. The 99-year plot along Tengah Garden Walk drew seven offers.

The most noteworthy proposal of S$400.32 million or S$603.17 psf ppr was from a restrict among CDL and MCL Land; it was slightly higher than the almost S$400.2 million or S$602.99 psf ppr from the second most noteworthy bid, from CSC Land Group (Singapore).

ECs are a public-private lodging cross breed with introductory purchaser qualification and resale conditions, which are totally lifted 10 years after the venture has been finished.

The delicate for the Tengah EC site was directed by the Housing and Development Board.

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