SINGAPORE (EDGEPROP) – Situated on Hougang Pathway 7, Riverfront Residences has been making a talk among HDB upgraders around. Until the launch of Riverfront Residences in mid-2018, there has actually been no brand new launch of a personal condominium in the region for much more than three years.
Suggested: Riverfront Residences location
Riverfront Residences possesses an overall of 1,472 units, making up nine 17-storey blocks of one- to five-bedroom flats, 21 strata landed homes as well as six strata shops. Four- and five-bedroom fee devices at the job featured private airlift accessibility.
The task fills the web site of the past Rio Casa, a 286-unit privatised HUDC real estate. The internet site was bought en bloc through Oxley Holdings and its joint-venture companions KSH Holdings, SLB Growth (provided residential property development upper arm of Lian Beng Group) and Apricot Funds (expenditure upper arm of the Teo family members of Super Group). The investment price of Rio Casa in Might 2017 was $783 million, translating right into a property cost of $706 psf every area ratio. This consisted of the differential costs as well as lease top-up premium.
” The existing developments along Hougang Pathway 7 more than ten years aged. Riverfront Residences with its modern glass window curtain wall façade will definitely modify the streetscape of this particular roadway and inject a brand-new lease of life and also vibrancy,” states Oxley.
Facilities to match every way of life
As the Oxley-led range had actually purchased the internet site just before property rates raised, it manages to price units at Riverfront Residences well. Based Upon URA Realis information, 1,200 units have been released to buy as of end-June. Amongst these, 1,052 units have actually been offered. In the month of June, ordinary psf rate achieved at the venture was at $1,307. According to Oxley, costs of some devices still start at greater than $1,100 psf.
Along with its site at the HDB estates in Hougang, Upper Serangoon Perspective, Punggol as well as Sengkang, Oxley says the bulk of customers are HDB upgraders.
“It is actually the alternative approach that Riverfront Residences possesses [whether it’s] rate, resources, layout or even place. They all accumulate well, making the acquiring decision an effortless one,” says Oxley.