SINGAPORE (EDGEPROP) – Located on Hougang Opportunity 7, Riverfront Residences has actually been actually producing a talk amongst HDB upgraders around. Till the launch of Riverfront Residences in mid-2018, there has actually been no brand new launch of an exclusive apartment in the region for greater than three years.
Mentioned: Riverfront Residences
Riverfront Residences has a total of 1,472 devices, comprising 9 17-storey blocks of one- to five-bedroom homes, 21 strata landed houses and also six strata outlets. Four- and five-bedroom fee devices at the venture featured exclusive airlift get access to.
The task occupies the web site of the past Rio Casa, a 286-unit privatised HUDC property. The internet site was actually bought en bloc through Oxley Holdings as well as its joint-venture companions KSH Holdings, SLB Development (listed home growth upper arm of Lian Beng Team) as well as Apricot Funding (assets arm of the Teo family of Super Team). The investment cost of Rio Casa in Might 2017 was $783 million, equating into a land cost of $706 psf per area ratio. This included the differential fee and also lease top-up superior.
” The existing advancements along Hougang Pathway 7 end ten years aged. Riverfront Residences with its contemporary glass drape wall structure façade will definitely alter the streetscape of this road and also 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 obtained the internet site just before property prices added, it manages to rate devices at Riverfront Residences competitively. Based on URA Realis records, 1,200 units have been launched available for sale since end-June. Amongst these, 1,052 units have actually been actually marketed. In the month of June, average psf rate accomplished at the job went to $1,307. Depending on to Oxley, prices of some units still begin at greater than $1,100 psf.
With its own area in the vicinity of the HDB estates in Hougang, Upper Serangoon Perspective, Punggol and Sengkang, Oxley claims the bulk of shoppers are HDB upgraders.
“It is actually the alternative strategy that Riverfront Residences has [whether it’s] price, locations, format or even area. They all add up well, making the purchasing choice a very easy one,” says Oxley.