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20-storey residential towers rising soon at Middle Road site

by • April 6, 2019 • Property Market NewsComments (0)538

20-storey residential towers and one block of low rise residences atop a row of commercial units coming up at Government Land Sales site awarded to Wingcharm.

Wingcharm Investment Pte. Ltd., a wholly-owned subsidiary of Wing Tai Holdings Limited, has been awarded the Land Parcel at Middle Road by the URA (Urban Redevelopment Authority).

Located in the heart of the bustling Bugis district with proximity to the CBD (Central Business District) and minutes to Orchard Road, this new site covers a prime area of over 80,000 sq ft.

20-storey residential towers

Image credit: URA

The new development will have two 20-storey residential towers and one block of low rise residences atop a row of commercial units.

Ms Tan Hwee Bin, Executive Director of Wing Tai Holdings, says, “As it is within the Central Area, we are excited with the excellent opportunity to create a fresh, exciting living space that caters to urbanites who desire to live in the city and experience its vibrant, cosmopolitan culture.”

This central site offering 20-storey residential towers and one block of low rise residences atop a row of commercial units, offers homebuyers a prime city location that is rarely available. The bustling retail amenities of the Bugis district with its colourful heritage attractions offer an unmistakable city vibe with superb connectivity and convenience. It is directly served by the North-South Corridor including MRT networks viz. East-West, Downtown and Circle lines, and major expressways, all providing easy access to the CBD, Marina Bay and major shopping, dining and entertainment areas at Orchard Road.

“This new development is in a premier city location amongst major commercial developments, hotels, retail facilities and educational institutions, yet it shares so much of the rich heritage of the arts and civic district. We are excited to participate in the overall revitalization and growth initiative, and look forward to working with URA to respond to the rapidly transforming Beach Road/Ophir-Rochor Corridor and support the nation’s live-work-play aspirations,” Ms Tan points out.

Ms Tan elaborates, “We will offer highly livable and functional spaces that are maximised for user needs. Our design will be infused with welcomed greenery to rearticulate the experience of comfortable, contemporary urban living.”

This promise is backed by Wing Tai’s award-winning record and experience in creating sustainably landscaped residences with superior spatial quality and thoughtful interior layout designs.

This development of 20-storey residential towers and one block of low rise residences atop a row of commercial units, will be designed for the modern lifestyle needs of homebuyers and residents, to support their aspirations of being in the city where they live, work and play in style, with accessibility to lifestyle amenities and conveniences of the district’s lifestyle choices and rich heritage.

Investors familiar with Wing Tai Asia’s development philosophy can be confident of the project’s desirability as a sought-after property.

The 20-storey residential towers and one block of low rise residences atop a row of commercial units will be a valuable investment for the future.

Singapore property market remains positive despite near-term weakness

As with all its projects, Wing Tai will incorporate principles of sustainability in the design of this new development, integrating modern construction aspects into the heritage of the site, to blend in with the remarkable architecture of commercial developments in the area.

On Wing Tai’s latest acquisition, Ms Tan observes, “The acquisition broadens the Group’s residential property portfolio and strengthens our position in the property market. We will continue to seek out good opportunities to strengthen our portfolio in Singapore and overseas to increase shareholder value.”

Property market sentiments remain upbeat despite February sales slump

The Urban Redevelopment Authority (URA) awarded the tender for the Government Land Sales site at Middle Road to Wingcharm Investment Pte. Ltd. The company submitted the highest bid in the tenders for the sites.

Commenting on the close of tender of the Middle Road site, CBRE commented saying, “It is encouraging to see that the Middle Road site attracted more bidders than the site along Sims Drive. A total of 10 bidders participated in the Middle Road tender process where the winning margin recorded was 4.7%. This well-located site received interest from seasoned developers who are keen to develop their residential portfolio in the Beach Road/Ophir-Rochor Corridor to complement the increasing number of offices in the vicinity.

The area is also an up-and-coming destination for work, live and play; surrounded by commercial developments and an array of F&B options, this site is poised to benefit from the limited housing supply in the vicinity and is aligned with the state’s goal to introduce more housing within the CBD area. Situated in the CBD, the site is not subject to the 85 sqm ruling*.

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