D’Grove Villas, a freehold condo which located at 8a Orange Grove Road, prime district 10 has launched for collective sale at S$398 million.
Centaline Singapore has been appointed as the marketing agent for this collective sale and its need to mention that Centaline Property Group, their parent company is one of the Hong Kong’s biggest real estate agencies.
The freehold development has a height of 21 storeys comprises of 45 units and sits on an area of 50,400 sq ft. It is advantages located near Orchard Road Singapore shopping belt.
Subject to authority approval, the permissible GFA which includes balconies upon redevelopment is 141,120 sq ft and is able to build up 36 storeys high.
Under URA Masterplan 2014, the freehold site is only zoned for “Residential” with a gross plot ratio of 2.8.
CEO Ronnie Khoo of Centaline Singapore said that for the past few years, the company has been actively expanding its business in Singapore.
He acknowledges that there are still demand for private luxury developments among overseas investors due to the limited supply of land in prime locations. Even new property cooling measures were announced July last year 2018.
When comes to attractive price for luxury developments, Singapore is still hold at the top spot among other world-class cities like New York, London and Hong Kong.
He further added that Singapore is still the best choice for overseas developers and investors looking for a long-term investment here due to its stable economy.
The public tender for D’Grove Villas shall close on May 23, 2019 at 3pm.