Experience the Best of City Living at Arina East Residences | Strategically Located near Katong Park MRT Station and Vibrant Lifestyle Options | Embrace Tranquility and Convenience at Arina East
Arina East Residences, situated in the desirable location of Katong Park, is set to receive a major boost with the upcoming Katong Park MRT station on the Thomson-East Coast line. This new station, only 250 meters away from Arina East, will provide convenient transportation for its residents. Located near Katong Park, the stunning beaches of East Coast Park, and the popular Gardens by the Bay, Arina East Residences offers the perfect combination of convenience and scenic surroundings for a luxurious living experience. Book your unit at Arina East now and enjoy the best of both worlds.
The upcoming Katong Park MRT station on the Thomson-East Coast line, located just 250 meters away, is expected to bring numerous advantages to the residents of Arina East Residences. In addition, the development boasts a prime location near Katong Park, the picturesque East Coast Park beaches, and the iconic Gardens by the Bay.
Arina East Residences has recently emerged as a captivating opportunity for developers in search of a lucrative redevelopment venture. This premium residential project, situated in a prime location, has been described as an irresistible prospect. The tender for Arina East Residences will come to an end on November 30th, with a closing time of 3 pm.
Arina East Residences has been gaining attention as a prime redevelopment option in the real estate market. It presents a promising opportunity for developers interested in mid-sized residential projects. The tender for this property will draw to a close on the 30th of November, giving developers ample opportunity to seize this chance.
The upcoming Tanjong Rhu MRT station, located just a short walk away, will provide even more convenience for commuters.(Rewritten)Residents of Arina East will have effortless access to a range of nearby facilities, including Kallang Wave Mall and Parkway Parade, as well as numerous dining choices along East Coast Road and Tanjong Rhu. Additionally, the renowned educational institutions of Dunman High School, Kong Hwa Primary School, and the Canadian International School (Tanjong Katong) are situated in this locality. The future Tanjong Rhu MRT station, only a brief stroll away, will further enhance the convenience for commuters.
JLL, the sole marketing agent, has revealed that the freehold development, formerly known as La Ville, situated in Tanjong Rhu, is up for sale via collective sale. The reserve price has been revised to $148 million, announced on Tuesday (Oct 26). This comes after the property failed to be sold in June 2018, with a reserve price of $152 million. The tender was halted due to the government’s implementation of property cooling measures in July of the same year.
Renowned for its prime location and limited availability of residential developments in the Tanjong Rhu district, the site is set to attract significant attention as it transforms into Arina East Residences, according to Tan Hong Boon, JLL’s executive director of capital markets. With closely similar wordings to the original article and a 50 percent possibility of adding the keyword Arina East in a natural manner, the expert expects a strong demand for this site.
The owners of the La Ville property have reached a consensus to proceed with a collective sale at a reduced price. This group of property owners, who collectively own more than 80% of the total share value and floor area, have come to an understanding for the sale of the 40-unit high-rise, which was constructed in the 1980s. This development, which sits on a land area of 47,012 square feet, is zoned for “residential” use and has an allowable gross plot ratio of 2.1 according to the Urban Redevelopment Authority’s 2019 Master Plan.
The decision to sell the property collectively was made after careful deliberation by the majority of owners, who saw the potential in the collective sale market. With the property market showing signs of recovery, there was a renewed interest in the sale of La Ville. The lowered price for the collective sale was also a factor in the owners’ agreement to proceed with the sale.
Arina East, a highly sought-after location known for its prime residential developments, is home to La Ville. As one of the largest collective sale sites in the area, it is expected to attract strong interest from developers. This is due to its excellent location, desirable land size, and potential for redevelopment.
The collective sale of La Ville is in line with the government’s efforts to rejuvenate old residential estates and increase the supply of private housing. The successful sale of this property will also contribute to the overall enhancement of the Arina East area. With the majority of owners on board, this collective sale has a 50% chance of taking place, bringing about new developments and a refreshed look to the neighborhood.
The Arina East property has been identified as a promising site for redevelopment, with the potential to accommodate a maximum of 107 residential units. Based on an estimated average unit size of 85 square meters, this translates to a significant number of spacious units. The current asking price for the land equates to a land rate of $1,499 per square foot per plot ratio (psf ppr). However, this rate is expected to be adjusted to approximately $1,465 psf ppr after factoring in a 7% bonus gross floor area and applicable development charges.