Riverfront Residences: River views and also upcoming rejuvenation

SINGAPORE (EDGEPROP) – Situated on Hougang Avenue 7, Riverfront Residences has been creating a buzz one of HDB upgraders in the vicinity. Up until the launch of Riverfront Residences in mid-2018, there has actually been no brand new launch of a private apartment in the region for much more than three years.

Advancement: Riverfront Residences

Riverfront Residences has a total of 1,472 units, making up nine 17-storey blocks of one- to five-bedroom apartments, 21 strata landed homes as well as six strata outlets. Four- as well as five-bedroom fee devices at the job included exclusive lift accessibility.

The task utilizes the internet site of the former Rio Casa, a 286-unit privatised HUDC real estate. The internet site was actually obtained en bloc by Oxley Holdings and its joint-venture partners KSH Holdings, SLB Development (specified property advancement arm of Lian Beng Group) and also Orange Funding (financial investment arm of the Teo household of Super Group). The investment cost of Rio Casa in May 2017 was actually $783 thousand, turning in to a land cost of $706 psf every piece ratio. This consisted of the differential costs and lease top-up fee.

” The existing advancements along Hougang Pathway 7 are over 10 years outdated. Riverfront Residences with its modern-day glass curtain wall structure façade are going to alter the streetscape of this roadway and infuse a brand-new lease of lifespan and also vibrancy,” states Oxley.

Facilities to match every way of life

As the Oxley-led consortium had obtained the web site just before land costs added, it has the capacity to cost units at Riverfront Residences well. Based Upon URA Realis data, 1,200 units have actually been introduced offer for sale since end-June. Among these, 1,052 units have actually been offered. In the month of June, average psf cost accomplished at the task was at $1,307. Depending on to Oxley, prices of some units still begin at more than $1,100 psf.

With its site at the HDB properties in Hougang, Upper Serangoon Scenery, Punggol and also Sengkang, Oxley points out the majority of purchasers are HDB upgraders.

“It is the alternative strategy that Riverfront Residences has [whether it is actually] price, locations, style or place. They all accumulate nicely, bring in the acquiring selection a very easy one,” mentions Oxley.