PROJECT DETAILS
The Urban Redevelopment Authority (URA) has sold a residential site in Mattar Road as part of Government Land Sales (GLS). This land parcel is bounded by Mattar Road. It is listed under list of sites and is allocated to be developed into a private residential condominium. It has a site area of square feet of land and is expected to house approximately 255 apartments units.
New Condo in Mattar Road- Amenities
New and upcoming condo in Mattar Road
Future residents of new condo at Mattar Road
New Condo in Matar Road- Connectivity
New and upcoming condo in Mattar Road
New Condo in Mattar Road- Education
New and upcoming Condo in Mattar Road
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| Project | New Condo in Mattar Road |
| Developer | |
| Location | Mattar Road |
| District | 14 |
| Tenure | 99 years |
| Site Area | 6,230 square metres/ 67,061 8 square feet |
| GFA: | 18,691 square metres/ 201,189 square feet |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Approximately 255 residential apartments |
| Total Carpark | |
| Development | Private Residential Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SPRs / PRs / Foreigners can buy |
FACILITIES and SITE PLAN
RESIDENTIAL FLOOR PLANS
CONSORTIUM COMPRISING OF THREE LISTED COMPANIES WON TOP BID FOR LAND PARCEL IN MATTAR ROAD FOR CONDO DEVELOPMENT
The top bid of $223 million or $1,109 psf per plot ratio (ppr) came from a consortium made up of three listed construction and property companies, namely Hock Lian Seng Holdings, Keong Hong Holdings and TA Corp. Based on the bid price, the breakeven is expected to be around $1,600 psf ppr, and selling price in the range of $1,750 to $1,800 psf.
The price for the site is higher than expected, says Ong Teck Hui, JLL national director of research & consultancy. The narrow margin of 5.5% among the top five bidders shows how keen competition was among them, he says.
The main attraction of the site is its proximity to Mattar MRT station on the Downtown Line, which provides easy connection to the city and other areas, adds Ong. “The keen bidding for the Cuscaden Road and Mattar Road land parcels tells us that demand for attractive residential sites is still buoyant. With such keen demand for sites, the en bloc market is likely to stay firm as it continues to be the main source of residential land supply over GLS. “
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