SINGAPORE (EDGEPROP) – Found on Hougang Avenue 7, Riverfront Residences has actually been creating a buzz among HDB upgraders in the vicinity. Until the launch of Riverfront Residences in mid-2018, there has been no brand new launch of a personal condo in the area for more than three years.
Suggested: Riverfront Residences location
Riverfront Residences has an overall of 1,472 devices, consisting of nine 17-storey blocks of one- to five-bedroom apartment or condos, 21 strata landed homes and six strata outlets. 4- as well as five-bedroom premium devices at the venture possessed private airlift accessibility.
The job occupies the site of the former Rio Casa, a 286-unit privatised HUDC estate. The internet site was actually bought en bloc through Oxley Holdings and also its joint-venture partners KSH Holdings, SLB Development (listed residential or commercial property development arm of Lian Beng Group) as well as Apricot Funding (expenditure arm of the Teo family members of Super Team). The acquisition rate of Rio Casa in Might 2017 was $783 thousand, equating into a land fee of $706 psf per lot proportion. This included the differential superior and lease top-up fee.
” The existing developments along Hougang Avenue 7 are over 10 years outdated. Riverfront Residences along with its present day glass window curtain wall structure façade will change the streetscape of the roadway as well as administer a new lease of life as well as vibrancy,” states Oxley.
Facilities to match every lifestyle
As the Oxley-led consortium had acquired the web site just before property rates raised, it manages to price systems at Riverfront Residences competitively. Based Upon URA Realis data, 1,200 systems have actually been actually introduced up for sale as of end-June. One of these, 1,052 devices have been actually marketed. In the month of June, normal psf price accomplished at the project was at $1,307. Depending on to Oxley, costs of some units still begin at much more than $1,100 psf.
With its site almost the HDB real estates in Hougang, Upper Serangoon View, Punggol and Sengkang, Oxley says the bulk of purchasers are HDB upgraders.
“It is actually the holistic approach that Riverfront Residences has [whether it is actually] cost, centers, design or area. They all build up perfectly, creating the acquiring choice an easy one,” says Oxley.