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Riverfront Residences: River perspectives and upcoming renewal

Michael I. Hunt, October 7, 2019

SINGAPORE (EDGEPROP) – Located on Hougang Pathway 7, Riverfront Residences has been actually producing a news amongst HDB upgraders in the vicinity. Until the launch of Riverfront Residences in mid-2018, there has actually been actually no new launch of a private condo unit in the location for more than 3 years.

Must watch: Riverfront Residences

Riverfront Residences possesses a total amount of 1,472 systems, consisting of nine 17-storey blocks of one- to five-bedroom apartments, 21 strata landed properties and 6 strata shops. 4- and five-bedroom fee devices at the venture featured private airlift gain access to.

The task fills the website of the past Rio Casa, a 286-unit privatised HUDC real estate. The site was actually purchased en bloc through Oxley Holdings and also its own joint-venture partners KSH Holdings, SLB Development (listed residential or commercial property development upper arm of Lian Beng Team) and Orange Resources (assets arm of the Teo loved ones of Super Group). The purchase rate of Rio Casa in Might 2017 was $783 million, transforming right into a land fee of $706 psf per area proportion. This included the differential costs and also lease top-up fee.

” The existing advancements along Hougang Pathway 7 end ten years outdated. Riverfront Residences along with its own modern glass curtain wall surface façade will change the streetscape of this particular street as well as inject a brand-new lease of lifespan as well as vibrancy,” mentions Oxley.

Facilities to match every way of living

As the Oxley-led range had actually purchased the web site just before property costs ran up, it is able to rate devices at Riverfront Residences well. Based Upon URA Realis information, 1,200 units have actually been introduced up for sale since end-June. Among these, 1,052 devices have actually been sold. In the month of June, normal psf cost accomplished at the project was at $1,307. According to Oxley, costs of some systems still begin at greater than $1,100 psf.

Along with its site almost the HDB estates in Hougang, Upper Serangoon Scenery, Punggol and Sengkang, Oxley points out the bulk of buyers are HDB upgraders.

“It is the holistic strategy that Riverfront Residences has [whether it is actually] price, resources, layout or even area. They all accumulate nicely, creating the purchasing decision a very easy one,” points out Oxley.

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