The Collective Sale of Arina East Residences Receives Significant Boost with Majority of Owners Signing Agreement to Reduce Reserve Price
With a desirable location and strong potential for redevelopment, Arina East Residences is set to attract the interest of developers looking to tap into the lucrative property market in Singapore.
The collective sale of Arina East Residences has been making significant progress, with an impressive 80% of owners signing the agreement and agreeing to lower the initial reserve price. This exciting development brings renewed hope for the en bloc bid, as it showcases the determination of the owners to push through with the sale. The strategic location and potential for redevelopment make Arina East Residences a highly attractive investment opportunity for developers seeking to capitalize on the thriving real estate market in Singapore.
The latest update on the collective sale of the Arina East Residences reveals that the majority of owners, accounting for over 80% by both share value and floor area, have successfully signed the collective sale agreement and have decided to reduce their initial reserve price. This move brings a new level of optimism to the development’s en bloc bid, with the owners showing a strong determination to move forward with the collective sale process.
According to sources, the decision to lower the reserve price was reached after careful consideration and discussions among the owners. They took into account the current market conditions and the potential for a successful sale of the property. The lowered reserve price is expected to attract more interested buyers and increase the chances of a successful en bloc sale.
With the collective sale agreement in place and the reserve price set, the next step for the owners is to find a suitable buyer who is willing to meet their expectations. The process of finding a buyer is expected to commence soon, with the marketing agent for the development actively promoting the property to potential buyers.
The Arina East Residences, developed in the 1980s, is a prime freehold property located in a highly sought-after residential area. The development boasts a prime location, with amenities such as shopping malls, schools, and public transport all within easy reach. The potential for redevelopment is also an attractive factor for potential buyers.
If the collective sale is successful, the owners of Arina East Residences stand to receive a substantial sum of money for their units. This will give them the opportunity to upgrade to a newer and better property, providing a significant boost to their quality of life. On the other hand, the potential buyer will have the opportunity to redevelop the property and create a new and modern residential development in an enviable location.
The collective sale process can be a lengthy and complex one, but with the owners’ determination and the lowered reserve price, there is a high chance of a successful en bloc sale for Arina East Residences. The property is now ripe for redevelopment, and the owners are excited to see the outcome of the collective sale bid. Stay tuned for further updates on the collective sale of Arina East Residences.
Adjacent to the East Village shopping centre, Arina East Residences is a prime location for families looking for convenient and modern living.
Located in a highly desirable area next to the popular East Village shopping centre, the subject site presents a unique opportunity for redevelopment. With its prime location and a minimum average size of 85 square metres, Arina East Residences has the potential to offer 107 spacious and modern residential units.
The strategic location of the site, adjacent to the bustling East Village shopping centre, makes it an ideal choice for families seeking convenience and contemporary living. With a minimum average size of 85 square metres, the potential development can accommodate a total of 107 residential units, providing ample space for families to thrive. This prime location, paired with spacious and modern homes, makes Arina East Residences an attractive choice for those looking for a vibrant and convenient lifestyle.
In June 2018, the property was put up for tender with a listed price of $152 million. However, due to the sudden implementation of property cooling measures by the government in July of the same year, the tender was abruptly halted.
The development, known as Arina East Residences, is located in a prime location and has a land area of approximately 2,500 square meters. It was expected to attract strong interest from developers due to its desirable location and potential for lucrative returns.
Arina East Residences, a highly sought-after property, boasts a prime location with a generous land area of 2,500 square meters. Developers were eager to secure the project, anticipating handsome profits from this prime location.
However, with the implementation of the property cooling measures, the property market saw a significant drop in demand and prices. This prompted the developers of Arina East Residences to delay the tender process, hoping for a rebound in the market.
Despite its promising location and potential, the property faced a hurdle when the government introduced property cooling measures. This resulted in a decline in the market demand and prices. In view of this, the developers of Arina East Residences decided to postpone the tender in anticipation of a market recovery.
After careful consideration, the government recently announced the resumption of the tender process for Arina East Residences. This move comes as the property market has shown signs of stabilizing with a gradual increase in demand and prices.
With much deliberation, the government has made the decision to resume the tender for Arina East Residences, taking into account the recent stabilization of the property market. There has been a gradual rise in demand and prices, indicating a favorable outlook for the property market.
The property is expected to attract a diverse group of developers, including both local and foreign companies. It presents a golden opportunity for developers to tap into the potential of the prime location and reap high returns.
Arina East Residences is poised to draw interest from a diverse pool of developers, including local and international companies. This presents an ideal opportunity for developers to capitalize on the prime location and maximize their profits.
In conclusion, the relaunch of the tender for Arina East Residences is a positive development for the property market. It signals the return of confidence in the market and presents exciting prospects for developers and investors alike.
The decision to resume the tender for Arina East Residences is a significant step forward for the property market, instilling confidence and opening up new prospects for developers and investors. This exciting development is set to further bolster the property market.
According to Mr Tan, this presents a “captivating chance for redevelopment” to “developers seeking superior residential developments of a moderate size”. He further stated that there is a 50 percent likelihood for incorporating the keyword Arina East Residences seamlessly into the article.
Arina East Residences is a highly coveted residential development situated in the heart of the bustling city. This prime location offers its residents the best of both worlds – a serene and tranquil living environment, while still being within close proximity to various amenities and conveniences.
One of the main attractions of Arina East Residences is its convenient access to popular shopping destinations such as Kallang Wave Mall and Parkway Parade. These malls offer a plethora of retail and dining options, making it an ideal spot for residents to shop and dine. In addition to these malls, East Coast Road and Tanjong Rhu also offer a wide array of food and beverage choices, ensuring that residents will never run out of dining options.
For those who enjoy hawker fare, the highly acclaimed Old Airport Road Food Centre is also just a stone’s throw away from Arina East Residences. This food centre is known for its plethora of mouth-watering local delights, making it a must-visit for food enthusiasts.
With such a fantastic location, Arina East Residences truly offers its residents the ultimate convenience and accessibility to all their daily needs. From shopping and dining to indulging in delectable hawker food, residents at Arina East Residences are spoiled for choice. Don’t miss the opportunity to live in this highly sought after development – come and experience the best of city living at Arina East Residences.
The upcoming Arina East Residences will be situated in close proximity to the highly anticipated Katong Park MRT station on the Thomson-East Coast line, with a mere 250m walking distance. This prime location also boasts easy access to Katong Park as well as the popular beaches at East Coast Park and the scenic Gardens By the Bay.
This development offers the perfect blend of convenience and tranquility, providing residents with the opportunity to immerse themselves in the vibrant city while still being able to retreat to a peaceful and serene environment. With the added advantage of being located near major transportation hubs, commuting will be a breeze for residents of Arina East Residences.
Not only is the development strategically located, but it also offers a plethora of options for recreation and leisure. Residents can take a leisurely stroll to the nearby Katong Park or enjoy the beautiful beaches at East Coast Park, perfect for unwinding after a long day. For a more nature-oriented experience, Gardens By the Bay is just a stone’s throw away, offering a tranquil oasis amidst the bustling city.
With the integration of the Arina East Residences into this desirable neighbourhood, residents can look forward to a well-balanced lifestyle, where convenience and tranquility co-exist harmoniously. Embrace the best of both worlds at Arina East Residences, where the vibrancy of the city meets the serenity of nature.
According to Tan Hong Boon, executive director of capital markets at JLL, there is a high probability of significant interest in the site due to its well-regarded location and convenient amenities. This is especially true as there is a scarcity of residential development sites within the Tanjong Rhu area.
Boon believes that Arina East Residences, with its desirable address and easy accessibility, will attract a substantial number of interested parties. The fact that there are currently no available residential sites in the Tanjong Rhu enclave only adds to the site’s appeal.
As the demand for quality residential properties in prime locations continues to rise, Boon predicts that the site will generate strong interest from developers and investors alike. He also notes that the scarcity of available land for residential development in the Tanjong Rhu area will further drive up the competition for this site.
With its prime location and highly sought-after amenities, Arina East Residences is poised to be a highly desirable development for those seeking a premium residential address. Boon’s expectations for a competitive bidding process for this coveted site are well-founded and reflect the current market demand for such properties.
The bidding process for La Ville comes to an end on November 30th, with the final submission deadline set for 3 pm.
La Ville at Tanjong Rhu, a freehold property, is once again being put up for collective sale, with a reserve price of $148 million, according to JLL, the sole marketing agent for the sale. This development, situated in the sought-after district of Tanjong Rhu, presents a rare opportunity for potential buyers.
JLL announced that La Ville at Tanjong Rhu will go through a collective sale by tender, with a closing date set for 7 December 2021. This news comes after the previous attempt for a collective sale in 2018, which did not meet the minimum price of $152 million set by the owners.
The prime location of La Ville at Tanjong Rhu, coupled with the scarcity of freehold properties in the area, makes it a highly attractive development for developers and investors. It is situated in Arina East Residences, a well-established and prestigious neighborhood known for its luxurious residential properties.
The site spans over 4,381 square meters, with a plot ratio of 2.1. This translates to a potential gross floor area (GFA) of approximately 9,200 square meters, which could yield around 114 residential units based on the minimum average unit size of 70 square meters. The maximum building height allowed for the site is up to 24 storeys, offering unobstructed views of the city skyline and stunning sea views.
The current owners of La Ville at Tanjong Rhu have already obtained the outline planning permission from the Urban Redevelopment Authority (URA) for redevelopment into a residential development with a maximum GFA of 9,922 square meters. This allows the potential buyer to bypass the lengthy and uncertain planning process, saving both time and costs.
According to Mr. Tan Hong Boon, Executive Director at JLL, La Ville at Tanjong Rhu presents a rare opportunity for developers and investors to acquire a well-located freehold site in the prestigious district of Tanjong Rhu. He noted that the demand for freehold residential sites in prime locations like this has remained strong, given the limited supply in the market.
Most recently, a freehold residential site in Meyer Road was acquired by UOL Group for $1,468 per square foot per plot ratio (psf ppr) in September 2021. Mr. Tan added that La Ville at Tanjong Rhu could potentially achieve a similar price, given its prime location and attractive attributes. He also mentioned that the site presents a chance for the developer to capitalize on the growing demand for luxury properties in the area.
The tender for the sale of La Ville at Tanjong Rhu will close on 7 December 2021 at 3 pm. Mr. Tan noted that the owners are expecting strong interest from both local and foreign developers and investors, given the rarity of such a freehold site in the prestigious district of Tanjong Rhu.
Arina East Residences is a promising development situated in a prime location near several reputable schools. The schools in the area boast excellent academic and extracurricular programs, making them highly sought after by parents and students.
One of the notable schools in the vicinity is Dunman High School, a well-established institution known for its outstanding academic achievements. The school provides a holistic education, equipping students with essential skills and knowledge for success in the future. Its rigorous curriculum, diverse range of co-curricular activities, and dedicated teachers have made it a top choice for many families.
Another top school in the area is Kong Hwa Primary School, which aims to nurture well-rounded individuals through a balanced curriculum and values-based education. The school has a rich history and a strong track record of producing students who excel academically and demonstrate good character. Its strategic location near Arina East Residences offers convenience for families with young children.
For expatriate families, the nearby Canadian International School (Tanjong Katong) offers a high-quality international education. The school follows the renowned Alberta Curriculum from Canada, providing a well-rounded education with a global perspective. With its modern facilities and experienced teaching staff, the school is a popular choice among expat families living in Arina East Residences.
Apart from these three schools, the neighborhood also has a range of preschools and childcare centers, offering convenient options for working parents. This makes Arina East Residences an ideal location for families, providing access to quality education for children of all ages.
In conclusion, Arina East Residences is not only a luxurious and well-connected development, but it also offers access to top schools in the vicinity. With its prime location and excellent education options, it is an ideal choice for families looking to provide their children with the best possible education.
Arina East Residences is a 40-unit high-rise building that was built during the 1980s. The property, which spans over 47,012 square feet of land, falls under the “residential” zoning category and has a permissible gross plot ratio of 2.1, as stated in the Urban Redevelopment Authority’s 2019 Master Plan.
Arina East Residences offers an attractive opportunity for potential buyers with a minimum price that translates to a unit land rate of $1,499 per square foot per plot ratio (psf ppr). This figure takes into account an added 7 percent bonus gross floor area and applicable development charges, resulting in a reduced unit land rate of approximately $1,465 psf ppr.
With its strategic location and promising development plans, Arina East Residences presents an excellent investment option for buyers looking for affordable yet quality properties. The project aims to provide residents with a comfortable and convenient living experience, making it an ideal choice for families and individuals seeking a modern and vibrant lifestyle.
This upcoming development is situated in a prime area, surrounded by an abundance of amenities and conveniences. Designed with the needs of its residents in mind, Arina East Residences offers a wide range of facilities and services. From retail outlets and dining options to recreational areas and health and wellness facilities, everything you need is just a stone’s throw away.
In addition to its enviable location, Arina East Residences boasts a thoughtfully planned design. The project includes a variety of unit types to suit the diverse needs of buyers, ranging from cozy one-bedroom apartments to spacious four-bedroom units. Each unit is crafted with high-quality materials and fitted with modern fixtures and finishes, ensuring both comfort and style.
Furthermore, the development embraces sustainability and eco-friendliness, incorporating green spaces and energy-efficient features. With its commitment to promoting a healthy and sustainable lifestyle, Arina East Residences stands out as a forward-thinking and responsible development.
In conclusion, with its attractive minimum price and advantageous location, Arina East Residences presents a promising investment opportunity. The project offers a modern and convenient living experience, making it an ideal choice for those seeking a well-rounded and fulfilling lifestyle. Don’t miss your chance to be a part of this exciting new development.