Top bid for The Beachfront Collection. SC Global Developments Ltd emerges as the top bidder for the second last condominium site available for sale at Sentosa Cove – The Beachfront Collection (Figure 1). A total of five bids were submitted by developers, and SC Global had the highest bid of S$1,799 psf ppr. It is understood that the top three bids were within 3-5% of each other. With a permissible gross floor area of 149,074 sq ft, the land price works out to S$268.3 million. The site, which was launched for sale on 12 June 2007, will be the first and only beachfront condominium site at Sentosa Cove. This is in line with SC Global’s concepts of ‘Owns the original’ and ‘The Ultimate Living’. It is envisaged that a 4-storey condominium offering up to a maximum of 88 luxury apartments will be built.
Surge in land price. Land price at Sentosa Cove has surged tremendously in the past three and a half years since its first launch in December 2003 (Figure 2). From a price of S$351 psf ppr paid by Ho Bee Investment Ltd for The Berth by the Cove site in 2003, the condominium land price has jumped 413% to the current The Beachfront Collection for S$1,799 psf ppr.
Surge in land price. Land price at Sentosa Cove has surged tremendously in the past three and a half years since its first launch in December 2003 (Figure 2). From a price of S$351 psf ppr paid by Ho Bee Investment Ltd for The Berth by the Cove site in 2003, the condominium land price has jumped 413% to the current The Beachfront Collection for S$1,799 psf ppr.
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