SINGAPORE (EDGEPROP) – Located on Hougang Avenue 7, Riverfront Residences has actually been actually making a buzz one of HDB upgraders around. Until the launch of Riverfront Residences in mid-2018, there has actually been actually no brand-new launch of an exclusive condo in the region for greater than 3 years.
Proposed: Riverfront Residences location
Riverfront Residences has a total of 1,472 units, making up 9 17-storey blocks of one- to five-bedroom apartments, 21 strata landed homes and also six strata shops. Four- and five-bedroom costs units at the task included private airlift access.
The venture occupies the website of the former Rio Casa, a 286-unit privatised HUDC property. The website was bought en bloc by Oxley Holdings and also its joint-venture companions KSH Holdings, SLB Growth (specified property progression upper arm of Lian Beng Group) and also Orange Resources (expenditure upper arm of the Teo loved ones of Super Team). The investment cost of Rio Casa in Might 2017 was actually $783 million, transforming into a land price of $706 psf every area ratio. This consisted of the differential superior as well as lease top-up fee.
” The existing advancements along Hougang Pathway 7 more than ten years outdated. Riverfront Residences with its own contemporary glass window curtain wall façade will certainly change the streetscape of the road and also administer a new lease of everyday life and vibrancy,” says Oxley.
Facilities to match every way of living
As the Oxley-led range had purchased the internet site prior to property rates ran up, it has the ability to rate units at Riverfront Residences well. Based on URA Realis data, 1,200 systems have actually been actually launched available since end-June. One of these, 1,052 systems have actually been actually marketed. In the month of June, common psf cost accomplished at the task was at $1,307. Depending on to Oxley, rates of some devices still start at much more than $1,100 psf.
Along with its area almost the HDB estates in Hougang, Upper Serangoon Perspective, Punggol and Sengkang, Oxley points out the majority of customers are actually HDB upgraders.
“It is the alternative approach that Riverfront Residences possesses [whether it is actually] price, centers, format or even area. They all accumulate beautifully, bring in the purchasing selection a quick and easy one,” points out Oxley.