SINGAPORE (EDGEPROP) – Found on Hougang Opportunity 7, Riverfront Residences has actually been developing a buzz one of HDB upgraders around. Till the launch of Riverfront Residences in mid-2018, there has actually been no new launch of a private condominium in the area for more than 3 years.
Approved website: Riverfront Residences location
Riverfront Residences possesses a total amount of 1,472 units, making up nine 17-storey blocks of one- to five-bedroom houses, 21 strata landed houses and 6 strata outlets. 4- as well as five-bedroom fee systems at the venture included exclusive lift gain access to.
The task utilizes the internet site of the previous Rio Casa, a 286-unit privatised HUDC estate. The website was acquired en bloc through Oxley Holdings as well as its own joint-venture companions KSH Holdings, SLB Growth (specified property progression upper arm of Lian Beng Team) and Orange Funds (expenditure upper arm of the Teo family of Super Group). The investment price of Rio Casa in Might 2017 was actually $783 thousand, transforming into a property cost of $706 psf every area proportion. This featured the differential fee as well as lease top-up superior.
” The existing progressions along Hougang Pathway 7 are over ten years aged. Riverfront Residences along with its own contemporary glass window curtain wall structure disguise will definitely modify the streetscape of this road as well as administer a brand new lease of everyday life as well as vibrancy,” says Oxley.
Facilities to match every way of life
As the Oxley-led range had actually acquired the website just before property rates raised, it is able to price systems at Riverfront Residences well. Based Upon URA Realis information, 1,200 systems have been released for sale as of end-June. Amongst these, 1,052 units have actually been actually marketed. In the month of June, ordinary psf rate accomplished at the job was at $1,307. According to Oxley, rates of some systems still begin at much more than $1,100 psf.
Along with its site in the vicinity of the HDB properties in Hougang, Upper Serangoon View, Punggol and Sengkang, Oxley says the bulk of customers are HDB upgraders.
“It is actually the comprehensive technique that Riverfront Residences has [whether it is actually] cost, locations, layout or site. They all build up well, creating the buying choice an easy one,” states Oxley.
