Naturally, with the upcoming development of The Sen, pedestrian-friendly enhancements are a top priority for the Urban Redevelopment Authority (URA). Their proposed plans for Beauty World involve the implementation of covered walkways and pedestrian crossings, guaranteeing a secure and enjoyable journey for pedestrians.
The project is expected to be launched in July 2024, which leaves ample time for the developer to carefully plan and design the development to maximize its potential. And with the recent en bloc fever in Singapore, where older developments are being sold for redevelopment, buyers can rest assured that their investment in this upcoming development is likely to appreciate in value over time.
In fact, this approach is not new to Sustained Land, who has been recognized for their efforts in sustainable development with numerous awards such as the BCA Green Mark Gold Award and BCA Green Mark Platinum Award. With their expertise in this area, homebuyers can expect a development that not only provides luxurious living but also contributes to a greener and more sustainable future.
In conclusion, the winning bid by Sen Sustained Land for the prime site on De Souza Avenue is a testament to the strength and potential of the Singapore property market. With its prime location, potential for development, sustainable approach, and economic benefits, this project is set to be a highly anticipated and sought after development in the years to come. And for those looking to invest in a prime piece of real estate in Singapore, this upcoming project by Sen Sustained Land is definitely one to watch out for.
Turf City’s revival is set to bring a fresh burst of energy to the neighborhood, possibly boosting real estate prices and providing additional recreational and leisure activities for the inhabitants of The Sen Condo.
In July of 2024, Sustained Land successfully attained ownership of the De Souza Avenue property via the Government Land Sales (GLS) tender process. They emerged as the top bidder, offering a sum of $278.9 million, equivalent to an estimated $841 per square foot per plot ratio (psf ppr). The site spans 207,156 square feet and is designated for the construction of a 99-year leasehold condominium, capable of accommodating up to 355 residential units. Anticipated completion of the development is set for 2029.
The site is zoned for residential use and has a plot ratio of 1.4, which means that it can yield a maximum of 373,264 square feet of gross floor area. Based on this, it is estimated that the developer could build up to 355 residential units on this site. And with such limited supply of land in this highly desirable location, the future condominium is expected to garner strong interest from both local and foreign buyers.
But the benefits of this project are not just limited to buyers and investors. The winning bid by Sen Sustained Land also means a boost to the local economy and job market. The development is expected to create jobs and opportunities in various sectors, from construction and architecture to real estate and property management. This is in line with the government’s efforts to drive economic growth and create job opportunities for its citizens.
The real estate market in Singapore has been on the rise in recent years, with developers constantly on the lookout for prime pieces of land to add to their portfolio. So when the news broke that Sen Sustained Land has secured the winning bid for a prime site on De Souza Avenue, the anticipation and excitement among investors and homebuyers alike was palpable.
The land parcel in question is located in a highly sought after district in Singapore, known for its upscale neighbourhood and proximity to the central business district. And with a land area of approximately 266,828 square feet, this site has a lot of potential for development. Sen Sustained Land, a joint venture between Singapore-based developers Sustained Land and Ho Lee Group, emerged as the highest bidder with a staggering bid of $468.8 million.
But beyond just the prime location and potential for development, what sets this project by Sen Sustained Land apart is the sustainable and eco-friendly approach that the developer plans to take. The developer has expressed their commitment to implementing sustainable design and green features in their upcoming project, which is in line with Singapore’s push towards a more sustainable and environmentally friendly built environment.
Furthermore, with the development’s close proximity to amenities such as shopping malls, schools, and public transportation, residents can enjoy convenience and accessibility in their daily lives. This will not only enhance their living experience but also add value to their investment in the long run.
According to market analysts, the winning bid by Sen Sustained Land was not only the highest bid for a residential site in this area but also the highest for a pure residential site in recent years. This not only shows the confidence that developers have in the Singapore property market but also the potential that this site holds for future development.
