March 28, 2023

S$671,500,800 Winning Bid for The Tre Pines Condo in District 21: 520 Units over 242,563sqft Site Area

The Tre Pines Condo in District 21 has recently been sold for an astonishing sum of $671,500,800. The property was put up for auction in July this year, with an initial guide price of $500 million. After an intense bidding war, the final winning bid was almost $172 million higher than the guide price, making this the biggest deal ever for a residential property in Singapore.

The Tre Pines Condo is located in the heart of District 21, close to all the conveniences of the modern city, making it a highly desirable property. The site area of 242,563 sqft consists of 520 residential units, comprising of various unit types including studios, one, two, three and four-bedroom apartments.

The units in the Tre Pines Condo are equipped with high-end features and modern amenities. The complex also boasts of a wide variety of recreational facilities such as a swimming pool, gym, sauna, Jacuzzi, landscaped garden, BBQ pits and a playground. Residents can also enjoy the convenience of a shopping mall and food court within the premises.

The Tre Pines Condo is a highly sought-after property due to its strategic location and modern facilities. It is close to major expressways and MRT stations, making it highly accessible for both transport and leisure. Other nearby amenities include an entertainment hub, a sports complex and a range of educational institutions.

The Tre Pines Condo is an ideal option for those looking for a luxurious lifestyle in the heart of the city. With its impressive features and facilities, the property offers a unique opportunity to own a piece of prime real estate and enjoy a high quality of life.

The Tre Pines Condo has been purchased by Far East Consortium International Ltd, a Hong Kong-based real estate and hospitality giant. The company is well-known for its commitment to creating premium living spaces around the world. The Tre Pines Condo is part of the company’s portfolio in Singapore, which includes other luxurious properties such as the South Beach Residences, The Interlace and The Quayside Collection.

The winning bid for the Tre Pines Condo is a clear indication of the increasing demand for prime properties in Singapore. The high price tag is a testament to the property’s value and appeal. This is a great The Tre Pines Condo UOL Group opportunity for those who have been looking for the perfect place to call home in the heart of the city.

The Tre Pines Condo in District 21 sold for a whopping $671,500,800 and set a new record as the highest bid ever in Singapore’s residential property market. Twenty bidders participated in the competitive tender and the winning bid was a whopping $1,000 psf pre-development value. The site area of 242,563sqft (22,534.2sqm) is located at the junction of Ang Mo Kio Avenue 1 and Ang Mo Kio Avenue 8 and is expected to yield up to 520 units.

The Government Land Sale (GLS) tender was launched in April 2018 and was highly competitive with the highest bid surpassing the initial asking price of $610 million. The winning bid was submitted by a joint venture between Nanshan Group and Heeton Holdings. The Tre Pines Condo is expected to be the largest condominium development in District 21 and will be developed by the two major developers.

The two developers have a combined wealth of experience in developing residential properties in Singapore. Nanshan Group, a Chinese real estate developer, has developed several projects such as the Lakeville and Floravale at Jurong Lake Link. Heeton Holdings, on the other hand, is a Singapore-based property developer that has developed a number of residential projects like the Leonie Hill Residences and the Twin Regency.

The GLS tender for the Tre Pines Condo was launched alongside other tenders for four other residential sites, of which three were for executive condominiums (ECs). All five sites had a total of 1,400 units on offer and the Tre Pines Condo was the most highly sought-after site with the highest bid being more than double the second highest bid.

The Tre Pines Condo is expected to provide residents with a luxurious lifestyle with its close proximity to the Bishan-Ang Mo Kio Park, the Central Catchment Nature Reserve, and a number of amenities such as shopping malls, schools, and leisure facilities. The site is also well-connected to other parts of the city via MRT and bus services.

The Tre Pines Condo is expected to be a high-end development with its large site area, spacious units, and luxurious amenities. The development is expected to have a minimum of two-bedroom units, with some units having up to four bedrooms. The development is also expected to have a number of common facilities such as a swimming pool, a gym, a clubhouse, and a BBQ area.

The Tre Pines Condo is expected to be completed by 2022 and is expected to be popular among home buyers and investors alike. With the latest record-breaking bid, the developers are expected to deliver a luxurious and high-end development for the residents of District 21. The development is expected to be a great investment for buyers and investors, and is likely to appreciate in value significantly in the years to come.