SINGAPORE (EDGEPROP) – Situated on Hougang Avenue 7, Riverfront Residences has actually been actually creating a news among HDB upgraders around. Up until the launch of Riverfront Residences in mid-2018, there has been actually no new launch of an exclusive condominium in the area for more than 3 years.
Nominated website: Riverfront Residences showflat
Riverfront Residences possesses a total amount of 1,472 systems, making up nine 17-storey blocks of one- to five-bedroom apartments, 21 strata landed homes and six strata stores. Four- as well as five-bedroom costs devices at the project come with exclusive lift accessibility.
The job utilizes the site of the past Rio Casa, a 286-unit privatised HUDC estate. The website was bought en bloc through Oxley Holdings and also its own joint-venture partners KSH Holdings, SLB Advancement (detailed residential property development upper arm of Lian Beng Team) and Orange Resources (financial investment upper arm of the Teo family members of Super Team). The acquisition price of Rio Casa in Might 2017 was $783 million, equating in to a land fee of $706 psf every area proportion. This included the differential superior and lease top-up premium.
” The existing growths along Hougang Avenue 7 are over one decade aged. Riverfront Residences with its present day glass curtain wall surface façade are going to alter the streetscape of this street and inject a brand-new lease of life as well as vibrancy,” mentions Oxley.
Facilities to match every way of living
As the Oxley-led range had actually obtained the site just before land costs added, it manages to cost devices at Riverfront Residences well. Based on URA Realis data, 1,200 systems have actually been launched available for sale since end-June. Among these, 1,052 systems have actually been sold. In the month of June, common psf cost attained at the task went to $1,307. According to Oxley, prices of some systems still begin at more than $1,100 psf.
With its own area in the vicinity of the HDB real estates in Hougang, Upper Serangoon Sight, Punggol and also Sengkang, Oxley says the bulk of shoppers are actually HDB upgraders.
“It is the all natural strategy that Riverfront Residences possesses [whether it’s] rate, facilities, style or location. They all accumulate well, making the getting choice an easy one,” mentions Oxley.