Riverfront Residences @ Hougang Avenue 7 is sitting on the plot of land formerly a HUDC estate, known as Rio Casa.
Rio Casa was sold to consortium comprising Oxley Holdings, KSH Holdings, Lian Beng Group and the private investment firm of Super Group’s Teo family at $575 million in April 2017 through a collective sale exercise.
The plot of land has a total area of 396,234 sqft and it can be maximized to provide a Gross Floor Area (GFA) of about 1,109,447 sqft at plot ratio of 2.8.
After considering the lease top up and development charges, which could be around $208 million, the estimated land price would work out to be around $706 per sqft PPR based on the maximum GFA of 1,109,447 sqft, made it one of the most affordable new launch in 2018.
Riverfront Residences @ Hougang Avenue 7, could potentially yield about 1,400 residential units, base on an average of 750 sqft per unit.
It is expected to garner strong interest due to its positive site attributes such as:
- Attractive price. One of the most affordable condo in 2018
- Unblock river view for majority of units
- Park connector right infront of development – connects to Punggol, Lorong Halus and Coney Island
- Close proximity to amenities such as Hougang MRT Station, Hougang Mall and Punggol Park
- High prospects for tenant from nearby future punggol digital district, Defu Industrial Estate and future developments at Paya Lebar.
- Small park behind development
- Cross Island MRT Line in 2030, reduced travel time to the west
- True meaning of river side living with vast greenery surrounded
- URA master plan for Hougang to create more jobs, enhance transport and greenery
- Relocation of Paya Lebar Airbase
- Near reputable schools such as CHIJ Our Lady of the Nativity, Holy Innocents' High School and Holy Innocents' Primary School
- Free shuttle bus to Hougang MRT for first year
- Private lift for 4 and 5 brm premium units
- Quality developer with strong track record in both development and construction
Large site area
Designed by award winning architect and landscape
3 unique coves within development
- Botanic Cove
- Resort Cove
- Lifestyle Cove
- Cluhouse 1 – Co-working and study space
- Clubhouse 2 – 2 storey with Gym, Grand Dining and KTV/Movie room
- Clubhouse 3 – Gourmet dining with fully equipped kitchen for stylish gatherings
3 holiday villa style pavilions with private pool
3 Swimming Pools
- 50m Mangrove Pool
- 75m River Pool
- 20m Kids Pool
Extensive boardwalks and gardens
Tie up with Obike
6 shops for convenience
Branded appliances – Electrolux and Grohe
Fibaro Smart home system for all residential unit
Yale Digital Lock
Quarts kitchen counter top for all units
Spacious and efficient internal layout
Non PPVC construction – flexibility in layout
First mover advantage as surrounding land sale prices goes up with aggressive bidding and enblocs