SINGAPORE (EDGEPROP) – Located on Hougang Avenue 7, Riverfront Residences has been actually making a buzz one of HDB upgraders in the vicinity. Till the launch of Riverfront Residences in mid-2018, there has actually been actually no new launch of a private condominium in the region for much more than three years.
Our website: Riverfront Residences location
Riverfront Residences possesses an overall of 1,472 units, making up 9 17-storey blocks of one- to five-bedroom homes, 21 strata landed properties and six strata stores. 4- and five-bedroom premium units at the task come with private airlift gain access to.
The project utilizes the site of the past Rio Casa, a 286-unit privatised HUDC property. The web site was purchased en bloc by Oxley Holdings as well as its joint-venture companions KSH Holdings, SLB Development (listed building progression upper arm of Lian Beng Group) and also Orange Financing (expenditure upper arm of the Teo family of Super Team). The purchase price of Rio Casa in Might 2017 was $783 thousand, transforming right into a land rate of $706 psf per piece proportion. This included the differential fee and also lease top-up costs.
” The existing progressions along Hougang Pathway 7 end 10 years aged. Riverfront Residences along with its own modern glass curtain wall structure disguise will transform the streetscape of this street and infuse a brand-new lease of life and vibrancy,” states Oxley.
Facilities to match every way of living
As the Oxley-led consortium had obtained the website just before land costs added, it has the capacity to price units at Riverfront Residences competitively. Based on URA Realis data, 1,200 units have been actually launched offer for sale since end-June. Amongst these, 1,052 systems have been offered. In the month of June, normal psf rate obtained at the task went to $1,307. According to Oxley, rates of some systems still begin at more than $1,100 psf.
Along with its location almost the HDB real estates in Hougang, Upper Serangoon Viewpoint, Punggol and Sengkang, Oxley says the bulk of buyers are HDB upgraders.
“It is actually the all natural approach that Riverfront Residences has [whether it’s] price, facilities, design or even site. They all build up beautifully, creating the acquiring decision an easy one,” claims Oxley.