GuocoLand sent a proposal for a high-end housing site that will be integrated in River Valley. The quote was of S$ 595.1 million, according to the URA. The tender took place yesterday bring in lots of interests from several designers around. The 99-year rented site was launched on April 28 from the GLS's Confirmed List and Martin Modern Pricing is to be announced closer to the showflat viewing day. It also has a 2.8 story ratio sitting on around 171,535 sqft. Designers can construct around 450 real estate units in this great deal, as it has a 480,307 sqft of optimum gross flooring area that is permitted. A GuocoLand's subsidiary called Fist Bedok Land put the top quote beating 12 others equating to a vital S$ 1,239 psf just per story proportion.
Bid public auction showed a great deal of rate of interest from designers, as it had 13 bid, according to Mr. Nicholas Mak that is the head of consultancy and research study at SLP IPC. Excluding any kind of land parcel cost the gorgeous Sentosa Cove, the leading proposal that was sent for this site was the highest for any type of GLS site since the year 2009. There is a strong competitors in this important tender, and developers know about it. The bid needs to be bullish in order for it to win in this tender, according to Mr Mak. The rates for the development will be revealed quickly.
Both URA as well as SLP International data showed that Hoi Hup simply paid S$ 1,157 psf simply for the site that is put in a 593-unit development in Sophia Hill at Mount Sophia in 2013. The famous parcel in River Valley land is put in a resident location that is truly well established which is just some mins away from the vital terminal called Great World MTR that will be erected in the future. The domestic room might be something in between S$ 1,910 psf and also S$ 1,850 psf, Mr. Mark said. There are numerous cooling actions that the government has put in place for this project, and also leading bidders are expected it to kick back these steps gradually for the job, Mr. Mark also stated.