SINGAPORE (EDGEPROP) – Found on Hougang Opportunity 7, Riverfront Residences has been actually making a news amongst HDB upgraders around. Up until the launch of Riverfront Residences in mid-2018, there has actually been actually no brand-new launch of an exclusive apartment in the place for more than 3 years.
Must read: Riverfront Residences location
Riverfront Residences has a total of 1,472 devices, comprising 9 17-storey blocks of one- to five-bedroom condos, 21 strata landed residences and six strata stores. 4- as well as five-bedroom fee units at the project come with exclusive lift access.
The job utilizes the site of the former Rio Casa, a 286-unit privatised HUDC real estate. The site was purchased en bloc by Oxley Holdings as well as its own joint-venture companions KSH Holdings, SLB Development (provided residential or commercial property advancement arm of Lian Beng Group) and also Apricot Financing (assets arm of the Teo family members of Super Group). The investment cost of Rio Casa in May 2017 was $783 million, transforming in to a property cost of $706 psf every piece proportion. This consisted of the differential costs and lease top-up fee.
” The existing developments along Hougang Avenue 7 are over 10 years old. Riverfront Residences with its modern glass curtain wall structure disguise will modify the streetscape of this particular street and also administer a brand-new lease of life and vibrancy,” states Oxley.
Facilities to match every lifestyle
As the Oxley-led range had actually purchased the site before land costs added, it manages to price units at Riverfront Residences competitively. Based on URA Realis records, 1,200 devices have been actually released offer for sale as of end-June. Amongst these, 1,052 units have actually been actually marketed. In the month of June, common psf rate achieved at the job was at $1,307. According to Oxley, rates of some systems still start at greater than $1,100 psf.
With its place at the HDB estates in Hougang, Upper Serangoon Scenery, Punggol as well as Sengkang, Oxley says the mass of purchasers are actually HDB upgraders.
“It is actually the all natural strategy that Riverfront Residences has [whether it’s] price, locations, style or even site. They all build up beautifully, creating the acquiring choice a quick and easy one,” claims Oxley.