The lakeside apartments at 9F and 9E Yuan Ching Road recently won a jackpot of $273.89 million on collective sales. It was 14% higher than the reserve price of $240 million during the second attempt.
A 99-year leasehold real estate project with 120 units at Jurong Lake Gardens was sold to Winville Investment recently. The developers at this site are now planning to develop this 12,465.4 sq m site with around 300 unit residential projects.
Recent market updates reveal that owners of luxurious three-bedroom units at pre-established condos are expected to get around $2.28 million each. But PropNex Realty didn’t disclose complete data on how the land rate for this $273.89 million project was translated and what was the final bid in the tender that ended on May 25th. The reserve price of $240 million worked out to achieve the land rate of $1077/sq ft for each plot, including development charge and top-up premium for lease. Note that this site now has only 45 years left for the assigned tenure. Read more