Amber Park Condo by CDL - The future iconic landmark

City Developments (CDL) and Hong realty (a subsidiary of the Hong Leong Group) have acquired ownership of Amber Park Condo in the en-bloc sale in Singapore. Despite the collective sale attracted big players in the industry, CDL eventually won the bid with Amber Park Price smacking about S$907 million in one of the biggest JV in the local. The sale price of Amber Park Condo CDL shows a land ratio of approximately S$1,515 per square feet per plot ratio based on the the allowable GPR of 2.8 with no development costs on the redevelopment. Hong real estate and Cityzens Development list the 200 units involved with Hong realty owning a 20% stake of the project. According to the 2014 master plan, Amber Park condo site occupying 213,670 square feet is a area for residential purposes. Every of the individual master of the condo will receive gross sales proceeds ranging from S$4.3 million to S$8.3 million. As the original developer of the previous 200-unit Amber Park condo developed in 1986, CDL state that they understand the greatest what is suitable for the area. The company aims to redevelop the area to house luxury condos containing up to four 25-storey buildings accommodating approximately 800-unit plus basement car-park, a concept pending approval. According to CDL, many of the units at Amber Park will be developed with a North-South facing orientation which allows the future residents of Amber Park to have the amazing seaview. The upcoming iconic landmark is posed to be a perfect investment deal in the residential Market of Singapore. The unique development site will benefit both investors and CDL in view that 999 years properties in Singapore are scarce. when finished, the Amber Park will offer a perfect area for people who work in the area to pocess an incredible living space.

Amber Park sits in a mature zone making it a highly sought after place. With numerous ongoing projects in the place, Amber Park Condo has potential which will provide many benefits to the residents. In addition the strategic location also allows Amber Park condo to enjoy the first-rate connection to other places of Singapore and access to many amenities. This zone is widely spoken for the rich cultural heritage and foods haunts, and is near malls like Parkway Parade and I12 Katong, as well as reputable schools such as Tao Nan and Ngee Ann Primary, Tanjong Katong Primary, and CHIJ (Katong).
Amber Road, as well as the nearby private residential area, has long had a loyal following, from both locals and expats because of its location: a short walk to the sea and to East Coast beach, and not more than 15-min driving from the Raffles CBD, Marina Bay, and Changi Airport. Besides appealing locational characteristics, a distinct advantage of the place is its freehold status, one thing which is becoming increasingly scarce in Singapore, said Mr Sherman Kwek, CEO-designate of CDL. With all these reasons including the clear seaview, and its proximity (290m, less than 4 minutes walk) to the upcoming Tanjong Katong MRT station due for completion in 2023, healthy demand is anticipated for this project.

City Development Ltd is a prominent real estate company conducting business in several locations around the world. The Singapore listed company has built its presence in 100 locations covering 28 countries and territories. It is also one of the biggest companies in terms of market capitalization with a stable income and a diverse portfolio which entails serviced apartments, hotels, offices, shopping malls and integrated developments. The developer has operated in the real estate field over 50 years offering services in real estate management, investment, and development. So far the developer has constructed more than 40, 000 houses and it owns a total of 18 million sq ft lettable floor area globally. Its key neighborhoods of operations include Singapore, Australia, Japan, UK, and China. CDL’s London based and listed subsidiary, Millenium & Copthorne Hotels plc is a top hotel chain word wide. It has more than 135 hotels globally situated in key gateway cities. With a proven track record of 50 years, the developer has developed more than 40,000 homes globally and received lots of prestigious awards, for example, Quality Excellence Awards, Building and Construction Authority Awards, Workplace safety and Health Awards, etc. For more than 20 years, the company has been spending efforts on green innovations to construct bold and inspiring green buildings for a better tomorrow. With CDL’s proven track records, future home masters of Amber Park condo could expect a luxury freehold condo to live in upon completion.

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