Riverfront Residences @ Hougang Avenue 7 is sitting on the plot of land formerly a HUDC estate, known as Rio Casa. The project launch date is around mid of Jun 2018.
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
- 200 meters water front view along the Sungei Serangoon River
- Serangoon Park Connector is just next to your door step
- 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.
- 2 MRT stops to Serangoon, 8 MRT stops to Dhoby Ghaut for more food and shopping choices
- Cross Island MRT Line in 2030, reduced travel time to the west
- True meaning of river side living with vast greenery surrounded
- Limited supply of new launch in the vicinity
- Near reputable schools such as CHIJ Our Lady of the Nativity, Holy Innocents' High School and Holy Innocents' Primary School.
Nearby Hougang MRT station, Riverfront Residences is quietly sited on a huge plot of land with 200m of river front view.
It is a place for river side living with vast greenery surrounded.
Residents will enjoy the easy accessibility to Hougang MRT station and KPE to connect to the rest of Singapore.