Developer City Developments Limited (CDL) was the top bidder for Handy Road Residences with the top bid of $212.2 million, or $1,722 per square foot per plot ratio (psf ppr), the project has site area of 51,626 sqft and a maximum GFA of around 123,204 sqft and is expected to yield a total of 130 residential apartments with communal facilities.
City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore’s largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally.
CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers.
Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia.
Handy Road Residences will be developing to three residential blocks - 8 to 10 storeys high - with about 200 units and a basement carpark, the development will convert a conservation building on the plot into a clubhouse. Developer's bid for the development plot was 12.3 percent higher than the next offer for West Coast Vale site.
Developer's breakeven cost for the Handy Road Condo at $2,300 psf and average selling price of $2,650 psf. The site is expected to attract massive interest from real estate developers of various scales due to its capital outlay and relatively low quantum, and the scarcity of land plot for sale in prime District 9.
Located near Dhoby Ghaut MRT station, Handy Road Residences is conveniently travel to other place in city fringe. Discover this ideal location to explore more information now!
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