A joint venture between Hoi Hup Realty and Sunway Development was awarded the executive condo (EC) site at Plantation Close with a top bid of $423.38 million or $701 psf per plot ratio (psf ppr) on Feb 14. The 215,691 sq ft, 99-year leasehold site can be developed into a new 560-unit EC.
Last September, Hoi Hup and Sunway won the neighbouring site, the 176,973 sq ft Parcel A, for $348.5 million ($703 psf ppr). Both sites are close to a range of amenities, including malls like JEM, Westgate, and IMM and educational institutions like ACS (Primary) and Princess Elizabeth Primary School.
“Our vision is to create a collection of great quality ECs that harness the proximity to the new amenities in the future Tengah development and the nearby Jurong Lake District and Second CBD,” says Wong Swee Chun, chairman of Hoi Hup Realty.
Tengah New Town is touted as a model futuristic new town for smart and sustainable living. According to the URA West Region Masterplan, future residents of the development will enjoy easy access to quality amenities, generous green spaces and dedicated gardening and farming spaces.
In addition, the site is also accessible to the upcoming Jurong Innovation District, where JTC aims to locate the next-generation high-tech, cutting-edge digital tech and manufacturing business and community.
Besides the two EC sites at Plantation Close, other ECs by Hoi Hup-Sunway joint venture include the entirely sold 496-unit Parc Canberra in Sembawang and the 700-unit Parc Central at Tampines. Other current launches by the partners include the 862-unit, freehold The Continuum at Thiam Siew Avenue in District 15 in the east, the 270-unit, freehold Terra Hill at Pasir Panjang and the 660-unit, 999-year leasehold Ki Residences at Brookvale.
