SINGAPORE (EDGEPROP) – Located on Hougang Opportunity 7, Riverfront Residences has been actually producing a buzz among HDB upgraders in the vicinity. Up until the launch of Riverfront Residences in mid-2018, there has been actually no brand new launch of a personal condo unit in the area for more than three years.
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Riverfront Residences has a total of 1,472 devices, comprising nine 17-storey blocks of one- to five-bedroom apartment or condos, 21 strata landed residences as well as 6 strata stores. Four- and also five-bedroom fee units at the task possessed exclusive lift gain access to.
The job utilizes the website of the previous Rio Casa, a 286-unit privatised HUDC estate. The internet site was actually acquired en bloc by Oxley Holdings and also its own joint-venture partners KSH Holdings, SLB Growth (listed residential property growth upper arm of Lian Beng Group) and also Orange Funding (financial investment upper arm of the Teo family members of Super Group). The investment price of Rio Casa in Might 2017 was actually $783 million, equating in to a land cost of $706 psf per plot proportion. This featured the differential premium and also lease top-up costs.
” The existing advancements along Hougang Pathway 7 are over ten years outdated. Riverfront Residences along with its own modern-day glass drape wall surface façade will definitely transform the streetscape of the street and inject a brand new lease of lifespan as well as vibrancy,” points out Oxley.
Facilities to match every lifestyle
As the Oxley-led range had actually obtained the web site before property costs added, it has the ability to price devices at Riverfront Residences well. Based on URA Realis records, 1,200 units have actually been introduced available for sale since end-June. Amongst these, 1,052 devices have been offered. In the month of June, average psf rate achieved at the venture went to $1,307. Depending on to Oxley, prices of some systems still begin at much more than $1,100 psf.
With its own location almost the HDB real estates in Hougang, Upper Serangoon Scenery, Punggol as well as Sengkang, Oxley claims the bulk of customers are HDB upgraders.
“It is the all natural strategy that Riverfront Residences possesses [whether it’s] rate, resources, style or site. They all accumulate beautifully, bring in the getting selection an easy one,” mentions Oxley.