SINGAPORE (EDGEPROP) – Situated on Hougang Method 7, Riverfront Residences has been actually developing a buzz one of HDB upgraders in the vicinity. Till the launch of Riverfront Residences in mid-2018, there has been no brand new launch of an exclusive condo in the region for more than three years.
Read more: Riverfront Residences price
Riverfront Residences possesses a total amount of 1,472 units, making up nine 17-storey blocks of one- to five-bedroom condos, 21 strata landed houses and also 6 strata shops. Four- and also five-bedroom fee devices at the venture possessed private lift accessibility.
The job occupies the internet site of the former Rio Casa, a 286-unit privatised HUDC property. The web site was actually obtained en bloc through Oxley Holdings and its joint-venture companions KSH Holdings, SLB Progression (listed property development arm of Lian Beng Team) as well as Orange Funds (expenditure upper arm of the Teo household of Super Group). The investment cost of Rio Casa in Might 2017 was $783 thousand, translating into a land cost of $706 psf per area proportion. This featured the differential premium and also lease top-up costs.
” The existing progressions along Hougang Avenue 7 more than one decade outdated. Riverfront Residences with its modern-day glass drape wall appearance will certainly alter the streetscape of the roadway and administer a brand-new lease of everyday life and vibrancy,” says Oxley.
Facilities to match every way of life
As the Oxley-led consortium had actually obtained the site before property rates ran up, it has the ability to cost units at Riverfront Residences competitively. Based Upon URA Realis information, 1,200 systems have been released available as of end-June. Amongst these, 1,052 units have been offered. In the month of June, common psf cost obtained at the task was at $1,307. According to Oxley, costs of some systems still begin at more than $1,100 psf.
With its site in the vicinity of the HDB properties in Hougang, Upper Serangoon Sight, Punggol and also Sengkang, Oxley says the bulk of purchasers are HDB upgraders.
“It is actually the comprehensive approach that Riverfront Residences has [whether it is actually] rate, facilities, design or even area. They all accumulate nicely, bring in the buying decision an effortless one,” mentions Oxley.