The Continuum at Thiam Siew Ave is a freehold development that is located at Thiam Siew Ave (District 15). It was sold for SGD $815 million by a joint venture between Hoi Hup Realty & Sunway Developments via public tender, which settled on November 18, 2021 – making the land 263,794 sq m have become highest land transaction record in 2021 to date. The property includes 22 lots of freehold residential development plots that are designated as “residential,” have a plot ratio of 2.8 depending on the 2019 URA Master Plan, and have a sales price of SGD 815 million Singapore dollars. The developers have given an estimated development cost of SGD $284 million, and the land price is estimated at SGD $1,488 per lot (ppr). If the 7% balcony bonus is added in, the total land price will be around SGD $1,440 per square foot (and projected development charge is approximately SGD $39.3 million). It consists of two unique freehold lands in Singapore’s east and is expected to increase in popularity in the near future.
Two freehold properties at Thiam Siew Ave, located between Haig Road and Tanjong Katong Road in an exclusive District 15 in the east, were sold to a partnership between Hoi Hup Realty and Sunway Developments for SGD $815 million. The transaction is the biggest residential land sales since the government strengthened Loan-to-Value (LTV) restrictions & increased Additional Buyer’s Stamp Duty (ABSD) rates in July 2018. The developer and its long-term joint venture partner, Sunway Developments, propose to rebuild the lands into two premium high-rise condos with over 800 units.
Hoi Hup Realty Pte Ltd is a well-established specialized property developer in Singapore that was founded in 1983. It has successfully finished a diverse portfolio of real estate projects, including private condos, landed housing, cluster-strata housing, executive condominiums, and mixed-use commercial complexes. Hoi Hup has so far developed more than 7,300 high-quality residences and won more than 25 awards, including the 5CA Quality Excellence Award – Quality Champion (Platinum) in 2018 and 2019, as well as BCI Asia Top 10 Developers Award in the years 2012, 2013, 2017, and 2018. Upcoming projects include Ki Residences at Brookvale and Parc Central Residences.such as the . They are committed to creating living spaces of the highest quality, comfort, functionality and style.
Sunway Property is the property branch of Sunway Group, which was founded in 1974 and therefore is today one amongst Malaysia’s leading global property-construction companies, with businesses in 50 countries and 12 sectors. It is a part of a leading property-construction group that is listed on Bursa Securities, Malaysia. It has vast experience in managing and developing innovative and quality residential and non-residential properties, which include retail, leisure, healthcare, hospitality and other commercial assets. The business has received more than 200 national and international awards, showcasing its creativity and ability to strike a balance between financial success and social and environmental responsibility.
Be the first to know about the latest updates of the development.