Condominium in Jurong Up for En Bloc Sales

An old condo development named Lakepoint View in the lake district of Jurong is available for collective sale. Located in the second most crucial part of Singapore which is also known as the 2nd CBD of Singapore, the sales will be initiated through tender for the reserve price of 640 million dollars. The declaration has been made on 23rd of July, Tuesday by the agents of the joint marketing scheme of Strata AMC and SLP International Property Consultants.

The property is located in the most prime spot of the city; the station of the Jurong Lake District is within the walking distance from it and has as its neighbour the pioneer shopping malls such as IMM, JMM, Westgate and Jcube. Apart from that, the condo development also close to three of the most chief spots in the district namely, Jurong Innovation District, Jurong Industrial Port and the Jurong Mega Port. All these factors have been taken into due consideration and the reserve price for the condos has been designed accordingly. The developmental area comprises of buildings that serve distinct purposes as some are constructed for residential purposes, while the others compromise of five shop units, apartments for studio and penthouses.

The plan for this developmental area in the lake district was planned and executed in the year 1983 by Jurong Town Corporation and is 36 years old now. The whole area is spread over 52,238 square meters with the population ratio of 1:4. The last sale that took place here was initiated for GLS (Government Land Sales) in 2015. The development was named Lake Grande and was located in Jurong West Street 41 and thereby, however many condos that have been developed since, all have been sold at attractive rates confirming the fact the area has always been under high demand.

The agents of Strata AMC and SLP International Property Consultants have predicted that the condominiums will be sold with ease firstly because of its feasible location and secondly due to the capability of the area to brace the compactness of population. Certain studies regarding the arena’s future developmental possibilities have predicted that planners and researchers will be keen to explore the prospects here and capitalize on the plot ratio. They are also of the opinion that the plot of the condos have attracted a lot of international developers and investors too. In addition, they have said that the contemporary residential buildings have marginalized supply.

The public tender available for sale of the condos at the lake district of Jurong are scheduled to close sharp at 3.00pm of 10th September 2019.



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