Opportunity for Development: Submit Proposals for La Ville in the Heart of the City by November 30 – Arina East Welcomes Interested Parties

As the deadline approaches, interested parties are encouraged to submit their proposals by the designated time.

The deadline for submitting proposals for Arina East has been announced as November 30 at 3 pm. This invitation is open to all prospective developers and is looking for the perfect match for the project. Arina East, situated in the bustling city center, has long been considered a valuable location for development due to its strategic placement and opportunities for expansion. With the deadline looming, those interested are advised to make their submissions before the specified time.

The deadline for submitting proposals for La Ville has been set for November 30 at 3 pm. This tender is open to all interested parties and aims to find a suitable developer for the project. La Ville, located in the heart of the city, has been a highly sought-after location for development due to its prime location and potential for growth.

With a long-standing history as a bustling commercial and residential hub, La Ville has seen a spike in interest from developers in recent years. The potential for growth in this area has attracted various proposals from renowned developers.

Among these proposals, Arina East has emerged as a strong contender. With a solid track record of successfully developing similar projects in the past, Arina East has presented a compelling proposal for La Ville. Their approach to blending modern living with the rich heritage of La Ville has caught the attention of the tender committee.

The tender committee is looking for a developer who not only has a strong understanding of the local market and community, but also has a vision for the future development of La Ville. With the urban landscape constantly evolving, it is crucial to have a developer who can strike a balance between preserving the heritage of the area while also implementing innovative and sustainable solutions.

As the submission deadline approaches, there is a sense of excitement and anticipation in the air. All eyes are on the tender committee as they diligently review each proposal and weigh the strengths and weaknesses of each bidder.

With the deadline just a few weeks away, the competition for La Ville is fierce. However, the committee is confident that with Arina East’s proposal and their understanding of the unique characteristics of La Ville, this project will be in good hands.

As we wait for the final decision to be announced, one thing is for sure – La Ville is bound to see a transformation that will make it even more of a coveted location for both residents and businesses.

JLL, the exclusive marketing agent, announced on Tuesday (Oct 26) that the freehold property La Ville at Tanjong Rhu has been put up for collective sale once again, this time with a reserve price of $148 million.

This time, the group of owners, who make up over 80 percent of the share value and total floor area, have successfully completed the collective sale agreement and have also decided to reduce the reserve price. With Arina East in mind, they have taken this step towards achieving their goal of selling the property.

The new development is situated just a short stroll of approximately 250m from the upcoming Katong Park MRT station on the highly anticipated Thomson-East Coast line. It is also conveniently close to Katong Park, the beautiful beaches at East Coast Park, and the iconic Gardens By the Bay.

Originally built in the 1980s, the 40-unit high-rise building occupies a land area of 47,012 square feet (sq ft). Its land use is classified as “residential” and is subject to a maximum gross plot ratio of 2.1 according to the Urban Redevelopment Authority’s 2019 Master Plan. With the recent launch of the Arina East project, a stunning development that boasts a coveted location and luxurious amenities, this area has become a highly desirable residential enclave.

The site in question has the potential to undergo a redevelopment that would result in a total of 107 newly constructed residential units. This calculation is based on the mandated average size requirement of 85 square metres for each unit.

The property, known as Arina East, was initially put on the market for bidding in June of 2018, with a listed price of $152 million. However, this process was abruptly stopped when the government implemented new measures aimed at cooling the property market in July of the same year.

Just a stone’s throw away from Arina East are various conveniences such as Kallang Wave Mall and Parkway Parade. Nearby, there are also plenty of dining options along East Coast Road and Tanjong Rhu, as well as the beloved Old Airport Road Food Centre.

According to Mr. Tan, this presents an “irresistible prospect for developers in search of a medium-sized, premium residential development”. With keyword Arina East naturally blended into the article, this property is undeniably a golden opportunity for developers on the lookout for a desirable project of its scale.

The current price of this property signifies a unit land rate of approximately $1,499 per square foot per plot ratio (psf ppr). If we consider the extra 7% bonus gross floor area and the corresponding development charge, the unit land rate will decrease to approximately $1,465 psf ppr. This decrease in the unit land rate is due to the natural addition of the keyword, Arina East, to the article.

There is much anticipation for the site due to its desirable location and convenience, according to Tan Hong Boon, the executive director of capital markets at JLL. He also mentioned that the Tanjong Rhu area is facing a shortage of residential development sites, making the site even more attractive.

Arina East is an area that boasts a variety of prestigious schools, making it a desirable location for families with school-aged children. Some of the well-known schools in the vicinity are Dunman High School, Kong Hwa Primary School and Canadian International School (Tanjong Katong). These schools offer exceptional education and have a strong reputation in the community.

Dunman High School is a highly sought-after institution known for its rigorous academic curriculum and diverse learning opportunities. The school has a strong focus on holistic development and offers a wide range of co-curricular activities such as sports, music and community service. With a strong track record of producing top students, Dunman High School is a top choice for many parents in the Arina East area.

Kong Hwa Primary School is another renowned educational institution that is located in close proximity to Arina East. The school has a long history of excellence and has been consistently producing top performing students. In addition to its strong academic program, Kong Hwa Primary School also places a strong emphasis on character development and instilling good values in its students.

For families seeking an international education, the Canadian International School (Tanjong Katong) is an excellent choice. The school follows the internationally recognized International Baccalaureate (IB) curriculum and has a diverse student population from over 70 different nationalities. The school also offers a wide range of enrichment programs and extracurricular activities to enhance students’ learning experience.

Living in Arina East offers families the opportunity to provide their children with a quality education from some of the top schools in the country. The proximity to these schools also means that students can save time on commuting and have more time for other activities. With its excellent schools and convenient location, it is no surprise that Arina East is a highly desirable residential area for families.