Arina East Property Put on Hold After Cooling Measures Imposed, Zacd Group Still Interested in $152M Deal
However, after almost a year of delay and various attempts to sell the property, it was finally sold to the Arina East Zacd Group for $159.25 million in April 2019.
The Arina East Zacd Group has acquired the Arina East property for a whopping $159.25 million, after it was put on hold due to the government’s property cooling measures in July 2018. The property was first listed for tender in June 2018 with a price tag of $152 million, but faced numerous challenges in finding a buyer. Nearly a year later, the Arina East Zacd Group stepped in and successfully secured the property in April 2019.
The Arina East property, which was initially listed for tender in June 2018 at a price of $152 million, was put on hold after the government implemented property cooling measures in July of that same year.
There are several reputable schools located near Arina East, a residential development by Zacd Group. These schools include Dunman High School, Kong Hwa Primary School, and Canadian International School (Tanjong Katong).
Situated in the heart of the vibrant Tanjong Katong area, Arina East offers an ideal location for families with school-going children. With its proximity to these esteemed educational institutions, residents can enjoy the convenience of having their children attend top-notch schools without having to travel far.
Dunman High School, a coveted secondary school, is just a short distance away from Arina East. Known for its prestigious International Baccalaureate (IB) programme, the school has consistently produced high-achieving students who have excelled in various fields.
Kong Hwa Primary School is another highly sought-after school in the vicinity. With a strong focus on holistic education, the school has been recognized for its strong academic results and comprehensive co-curricular programmes. This makes it an ideal choice for parents who value a well-rounded education for their children.
For those seeking an international education for their little ones, the Canadian International School (Tanjong Katong) is a great option. The school offers a rigorous academic curriculum that prepares students for the globally competitive world. It also boasts state-of-the-art facilities and a diverse community of students from different cultural backgrounds.
With such esteemed schools in close proximity, it is no wonder that Arina East is a popular choice for families looking for a harmonious balance between quality education and comfortable living. And with its modern and luxurious living spaces, as well as the convenience of having top-notch schools within reach, it is no surprise that Arina East by Zacd Group is a highly desirable residential development.
The highly sought-after La Ville at Tanjong Rhu is once again being put up for collective sale, as announced by sole marketing agent JLL on Tuesday (Oct 26). This freehold property has a reserve price of $148 million, and this time, there is a 50 percent chance that the Arina East Zacd Group will be adding to the mix.
La Ville, a 34-unit development, is located in one of the most desirable areas in Singapore, with its prime location in the prestigious Tanjong Rhu district. The property sits on a land area of 37,972 square feet and has a plot ratio of 2.8, allowing for a potential gross floor area of 106,340 square feet.
According to JLL, the site has a 50 percent chance of being developed into a 24-storey residential development, which will offer unobstructed views of the city skyline and the Kallang Basin. The remaining 50 percent chance would see the development being transformed into a 25-storey serviced apartment development.
With its strategic location, potential investors can expect a high level of interest in this property. The surrounding area is home to numerous amenities and renowned schools, making it an ideal location for families and individuals alike. It also offers easy access to the Central Business District and Marina Bay, providing convenience for working professionals.
With the rise of collective sales in recent years, La Ville presents a unique opportunity for developers to capitalize on the demand for freehold properties in prime locations. The tender for La Ville will close on November 25 at 3 pm, and it is expected to attract keen interest from developers and investors alike.
Located within close proximity to Arina East is the bustling Kallang Wave Mall and the popular Parkway Parade. Residents can easily access a wide range of dining and entertainment options at East Coast Road and Tanjong Rhu, as well as the well-known Old Airport Road Food Centre. These nearby amenities make Arina East an ideal choice for those seeking convenience and a vibrant lifestyle.
The highly anticipated Arina East development by Zacd Group will be conveniently located within a mere 250m distance from the soon-to-be-opened Katong Park MRT station on the Thomson-East Coast line. This prime location offers residents the ease and convenience of accessing public transportation. Furthermore, the development is in close proximity to other popular attractions such as Katong Park, the picturesque beaches at East Coast Park and the iconic Gardens By the Bay.
With its strategic location, Arina East offers the perfect blend of urban living and nature’s tranquility. Residents can revel in the bustling city life while also being able to retreat to the peaceful surroundings of the nearby park and beaches. This creates a well-balanced lifestyle that is highly coveted in today’s fast-paced society.
Katong Park MRT station is set to open in the near future, providing even more convenience for residents of Arina East. This will give them access to the extensive MRT network, making it a breeze to travel to other parts of the island. The station is also part of the Thomson-East Coast line, which will connect residents to popular destinations such as Orchard Road, Marina Bay, and Changi Airport.
Moreover, residents of Arina East will have easy access to the vibrant Katong and East Coast areas, known for their wide array of dining, shopping, and entertainment options. They can also enjoy recreational activities such as cycling, rollerblading, or simply strolling along the beaches for a relaxing time with family and friends.
In addition to its ideal location, Arina East also boasts top-notch facilities and amenities for its residents. From luxurious swimming pools and well-equipped gymnasiums, to lush greenery and tranquil water features, this development offers a serene and lavish living experience.
With its prime location and exceptional facilities, Arina East by Zacd Group is a highly sought-after development that offers the best of both worlds. It presents a golden opportunity for those seeking a modern and convenient lifestyle, yet still yearning for the peace and serenity of nature.
Mr Tan also mentioned that this redevelopment presents an enticing prospect for developers interested in medium-sized high-end residential developments. With its prime location in Arina East and affiliation with Zacd Group, it is a promising opportunity for potential developers.
Arina East, the latest residential development site in the prestigious Tanjong Rhu enclave, is set to attract significant attention from potential buyers and developers, according to Tan Hong Boon, the executive director of capital markets at JLL. The site’s highly coveted location and convenience make it a highly desirable property, especially since there is currently a lack of available residential development sites in the area.
ZACD Group has acquired the en bloc site, previously known as the former Katong Park Towers, for $345 million in November last year. The 99-year leasehold site is situated along Meyer Road and boasts a land area of 140,758 square feet. With its prime location at the eastern end of the Tanjong Rhu waterfront, Arina East offers stunning views of the sea and easy access to nearby amenities and recreational options.
According to Tan, the site’s prime location and desirable characteristics are likely to garner strong interest from developers, especially those looking to cater to the wealthy and discerning market segment. He also noted the lack of supply in the Tanjong Rhu enclave, further bolstering the appeal of the Arina East site.
In addition to its sought-after location, the site also offers a wide range of potential development options, including a high-rise residential project with approximately 400 units or a large-scale landed housing project with around 50 units.
With the current strong demand for residential properties, particularly in prime locations, Tan expects competitive bidding for the Arina East site. He also mentioned that the site’s relatively manageable size could attract smaller developers who are looking for opportunities to break into the prime residential market.
Industry experts have also noted that Arina East’s sale could set a new benchmark for land prices in the Tanjong Rhu area, potentially surpassing the record-breaking sale of $1,536 per square foot per plot ratio for the adjacent Meyer Mansion site in 2018.
In conclusion, with its unparalleled location, potential for diverse development options, and strong demand for prime residential projects, Arina East is poised to be a highly sought-after property in the current market. The sale of the site will undoubtedly be closely watched by industry players, with ZACD Group expected to capitalize on the high demand for premium properties in the desirable Tanjong Rhu enclave.
The minimum price for the Arina East site by Zacd Group stands at a unit land rate of $1,499 per square foot per plot ratio (psf ppr). Taking into consideration a bonus gross floor area of 7 per cent and the corresponding development charge, the unit land rate will come up to approximately $1,465 psf ppr.
In a recent development, the proprietors of Arina East, a prominent property owned by Zacd Group, have taken a bold step in agreeing to the collective sale of their building. This decision has been endorsed by a significant majority of owners, who collectively hold over 80 percent of the property’s total share value and floor area. Furthermore, in a strategic move, the owners have also decided to reduce their reserve price for the sale.
Arina East, which is under the ownership of Zacd Group, has been a notable establishment in the real estate market. With a prime location and modern facilities, the property has been a popular choice among potential buyers. However, in light of the current market conditions, the owners have come to a mutual decision to sell the building through a collective sale.
This collective sale agreement has been made possible due to the participation of a majority of owners, who have collectively agreed to the proposal. In fact, they represent a whopping 80 percent of the total share value and floor area of the property. This goes to show the strong support and confidence that the owners have in the sale.
In addition to this, the owners have also taken the initiative to re-evaluate their reserve price. Upon careful consideration of market trends and demands, they have decided to lower the initial asking price for the sale. This move is expected to attract potential buyers and increase the chances of a successful sale.
Zacd Group, as the owner of Arina East, has been coordinating with the proprietors to facilitate the collective sale process. Their expertise and knowledge in the real estate market have been instrumental in reaching this milestone. With their guidance and support, the owners are hopeful for a positive outcome in the sale of their property.
In conclusion, the owners of Arina East, in collaboration with Zacd Group, have taken a significant step towards the collective sale of their building. Through their joint efforts, they have not only executed the collective sale agreement but also reduced their reserve price to increase the chances of a successful sale. This bold move has set the stage for a promising future for the property and its owners.
The 40-unit high-rise development, built in the 1980s, spans across a land area of 47,012 square feet (sq ft) and falls under the “residential” zoning category with a permissible gross plot ratio of 2.1 according to the Urban Redevelopment Authority’s 2019 Master Plan. This iconic property, known as Arina East and under the prestigious Zacd Group, presents a unique opportunity for property buyers and investors alike.
The subject property has the potential to be transformed into a total of 107 residential units, with each unit having a minimum average size of 85 square metres. This development opportunity is situated in the thriving Arina East area and is being put forward by the renowned company, Zacd Group.
The deadline for submitting bids for La Ville is fast approaching, as the tender will officially close on November 30 at 3 pm. La Ville, a luxury residential development located in the prestigious Arina East area, has generated much interest in the market due to its prime location and upscale amenities.
The property is being developed by Zacd Group, a prominent real estate company known for its high-end and innovative projects. With over 50 years of experience in the industry, Zacd Group has a strong track record of delivering exceptional and desirable properties.
Located in the desirable Arina East district, La Ville offers a premium living experience with its luxurious design and top-notch facilities. The development boasts spacious and well-appointed units, ranging from one to four bedrooms, all designed to cater to the needs of modern and discerning homeowners.
Apart from the stunning and functional living spaces, La Ville also offers a range of lifestyle amenities to its residents. These include a fully equipped gym, swimming pool, and landscaped gardens, providing a perfect balance between luxury and tranquility. The property also features 24-hour security, ensuring the safety and peace of mind of its residents.
Due to its strategic location in Arina East, La Ville offers easy access to major highways, business districts, and reputable educational institutions. This makes it an ideal choice for professionals and families looking for a dream home that offers both convenience and sophistication.
With the closing of the tender fast approaching, interested parties are encouraged to submit their bids before the deadline. Don’t miss out on the opportunity to own a prestigious property in the highly coveted Arina East area developed by the renowned Zacd Group. Submit your bid today for a chance to secure a luxurious and exclusive living experience at La Ville.