SINGAPORE (EDGEPROP) – Found on Hougang Opportunity 7, Riverfront Residences has actually been actually making a buzz one of HDB upgraders in the vicinity. Up until the launch of Riverfront Residences in mid-2018, there has been actually no brand-new launch of an exclusive condominium in the location for greater than three years.
Must watch: Riverfront Residences location
Riverfront Residences possesses a total of 1,472 units, consisting of nine 17-storey blocks of one- to five-bedroom homes, 21 strata landed houses and also 6 strata stores. Four- as well as five-bedroom superior units at the project featured personal airlift get access to.
The job occupies the website of the former Rio Casa, a 286-unit privatised HUDC property. The internet site was actually purchased en bloc through Oxley Holdings and its own joint-venture companions KSH Holdings, SLB Growth (provided residential or commercial property progression upper arm of Lian Beng Team) and Orange Funding (investment arm of the Teo household of Super Group). The investment rate of Rio Casa in May 2017 was actually $783 million, turning in to a property fee of $706 psf every lot ratio. This featured the differential costs as well as lease top-up fee.
” The existing developments along Hougang Method 7 are over one decade old. Riverfront Residences with its contemporary glass window curtain wall disguise will certainly alter the streetscape of this particular roadway as well as inject a brand new lease of lifespan and also vibrancy,” mentions Oxley.
Facilities to match every lifestyle
As the Oxley-led consortium had actually purchased the website before property prices ran up, it has the capacity to cost units at Riverfront Residences well. Based Upon URA Realis records, 1,200 devices have been actually launched to buy as of end-June. Amongst these, 1,052 devices have been actually offered. In the month of June, normal psf rate attained at the task was at $1,307. Depending on to Oxley, rates of some units still start at much more than $1,100 psf.
With its own site almost the HDB estates in Hougang, Upper Serangoon Sight, Punggol and also Sengkang, Oxley says the mass of customers are actually HDB upgraders.
“It is actually the alternative technique that Riverfront Residences possesses [whether it is actually] rate, locations, style or even area. They all add up perfectly, creating the purchasing decision a quick and easy one,” claims Oxley.