04 Mar Good Deals Coming to Artra Soon
Where else besides our little red dot Singapore, will you be able to find an open public tender for a piece of land parcel where it is designated for residential use to receive more than 10 bids from keen developers? You will probably see it over here and some other smaller countries perhaps. Well, this piece of land site is located at Alexandra view, along Alexandra road. It is also very well positioned to be sitting right next to the Redhill train station where it is running on their green coloured east west line among others.
The site was well received by the best developers in Singapore due to the attractive locale as it is strategically situated. At the same point of time, the encouraging bids coming from so many builders also reflect on the positiveness as well as the confidence in the local property market.
It was eventually awarded to Tang Skyline Pte Ltd, a subsidiary of Tang Group of Companies, at the purchase price of $376.88 million, a neat $851psf per plot ratio as reported by the Urban Redevelopment Authority of Singapore (URA). With such an aggressive bid by the real estate firms, it goes to show the hunger and the desperate bids in securing good land sites for developments.
As the saying goes, “if a housing developer is without any land parcels for developing homes, it is as good as being a public bank without any money in their huge vault”. No?
The developers involved have since named the project site as the Artra before undergoing the first phase of construction. It will not only be an ordinary condo development that you can see on the streets, but a nice and useful mixed development adjacent to redhill mrt.
Artra has a building plot ratio of 4.9 and it will be a very high rise residential project, prominently in the entire redhill neighbourhood. Sitting on a land area of about 90,000 square foot, it will be built to a staggering height of 44 storey tall. There will be 400 luxurious dwelling units waiting for you to call it as your home, a spacious 2-bedroom unit of nearly 800 sq feet to almost 2,600 sq feet of 5-bedroom for big family size. Ironically, you will not be able to see any 1-bedroom here as developer are not building as single bedded unit as well as 4-bedded apartments.
Even if without both one and four bedded residence, there are plenty to be rejoice about as you won’t be seeing “mickey mouse homes” within your entire building. Generally, single bedroom is to be used for rental and thereby attracting a higher living density in your development. Something which may not be as comfortable for some residents when you see many different tenants moving in and out as time goes by.
Nevertheless, if you are keen to buying a private property in District 03, Singapore. There is some good news as Artra will be having a special deal for prospective buyers soon. Go ahead and look for them from the above address if you want to find out more.