The highly talked about EC site in Punggol bidding process were participated by top notch developers with GuocoLand (S$ 397.53 million), Sim Lian Land, JBE Properties and both proposals were submitted at S$ 393.9 million. Kheng Leong provided at S$ 387.1 million for the same site. A consortium consisting of TTH Development, Santarli and Kay Lim Real estate bid at S$ 382.68 million. MCL Land was the 2nd cheapest prospective buyer, at S$ 382 million.
On a much more favourable note, a real estate company study head claimed: “While the leading proposal is taken into consideration high about previous launch rates, the need for the new Punggol site is anticipated to be sustained by customers’ favourable expectation of the location. In addition, with rates of brand-new exclusive houses trending upwards, the last asking price of the future EC growth will certainly be an eye-catching alternative for financial investment.”
The 2.7-hectare Sumang Walk, which adjoins Parc Life could fit approximately 820 household devices.
The CDL-TID joint eendeavour’sleading proposal was 4.8 percent above the 2nd greatest proposal of S$ 486 million or S$ 556.26 psf ppr from Qingjian Real estate (Residential).
This is certainly CDL’s 9th EC job. CDL together with TID joint endeavor will certainly check into creating 13 blocks of 10 to 17 floors.
JLL’s Mr Ong kept in mind that a couple of purchases at Parc Life price is at S$ 860 psf in current months. “There appears to be a presumption that EC rates will certainly climb by greater than 20 percent by the time the job on the subject website is released.”
Team president of CDL, is positive regarding the leads for the recommended job. “We are positive of its success, provided its exceptional place as preferable features. Punggol, slated to be Singapore’s very first Digital Area, has an interesting future and also our team believe this will certainly make the website extremely engaging to residence customers. It is also extremely near LRT and also MRT terminals, with the addition to a bus interchange, which is tough ahead by for an EC job.