Riverfront Residences is the forthcoming new condominium advancement by veteran Singapore open recorded designer – Oxley Holdings.
Riverfront Residences condo was the previous Rio Casa, which the en-alliance was fruitful experienced in 2017. It was a 286-unit advancement at Hougang Avenue 7 has been sold altogether for S$575 million to Oxley-Lian Beng Venture Pte Ltd.
Combined with an extra differential premium of around S$208 million to top up the rent to a new 99 years and build up the site to a gross plot proportion (GPR) of 2.8, the price tag works out to a land cost of about S$706psf ppr, in light of its most extreme allowable gross floor region (GFA) of around 1,109,447 sq ft.
Knight Frank official chief and head of speculation and capital markets Ian Loh credited the solid enthusiasm for the domain to its positive site characteristics – which incorporate simple access to Hougang MRT stations and transport trade, vicinity to Serangoon Park Connector, immense encompassing green spaces and waterfront see.
“The gross advancement esteem for this undertaking is assessed at S$1.4 billion and can conceivably be redeveloped to work around 1,400 private units, accepting a normal size of 70 sqm per unit,” he included.
Take a look at Riverfront Residences showflat to have a look yourself!