Jalan Anak Bukit site awarded to Far East Organization, Sino Group

The tender for a housing plus commercial spot at Jalan Anak Bukit has already been presented to Far East Organization and Sino Group, which jointly tendered the highest quote of nearly $1.028 million using several companies specifically, FE Landmark, FEC Residences Trustee, as well as FEC Retail Trustee.

Launched for transaction on 30June2K20 for the dual-envelope approach along with price income tender process, the Three point Twenty Two ha plot is positioned at the crossroads of Jln Jurong Kechil and Upp Bukit Timah Road, close to the Beauty World MRT Terminal.

The Ninety Nine year lease period location, which has an authorized GFA of 96.555K square metre, appealed to five prices at the time of the cease of its tender on 29Jun’21.

Urban Redevelopment Authority identified that the principle and cost revenue tender strategy was used to “list quality project strategies which are appealing and react nicely to the vicinity context, with significant integration of facilities connected by means of a smooth network of pedestrian friendly Rd as well as well-designed public places”.

Far East Organization as well as Sino Group had actually put three various offers and approach proposals with respect to the location.

URA shared the triumphing approach proposal “is convincing in its own well-considered location developing, creation reaction to tropical environment furthermore assimilation of the a variety of usages plus social spots”.

Primarily, the proposed mixed use project by Far East Org and Sino Grp included an integrated transport hub that comes along with a bus interchange on the 2nd storey alongside retail and public spots at the 1st three level along Jalan Jurong Kechil and also Upp Bt Timah Rd.

“The system exhibits a properly conceived design strategy in its generously area building blocks with a purposeful sunny style effect,” considered Urban Redevelopment Authority.

Mori condominium

In The Meantime, Huttons Asia CEO Mark Yip revealed the combined land value is $Nine hundred Eighty Nine per sq ft per PR, that is in mark with local market following accounting for location plus market sentiments.

“Within the tender docs, the peak GFA for the home part is around 75 percent of total gross floor area which indicates the forecasted land price is around $1.3K psf per plot ratio. This can fluctuate calculating how the property developer concept the entire idea,” he said further.

error: Content is protected !!