18 Jun '18, 7am

Kemaman Point – Sold to Soilbuild Group Holdings Ltd https://t.co/vy9cwKgjZn

SINGAPORE – Knight Frank is pleased to announce that Kemaman Point, an 89-unit residential development located off Balestier Road, has been sold collectively to Soilbuild Group Holdings Ltd for S$143.88 million. Kemaman Point. Picture: Knight Frank The sale price to redevelop the site to a gross plot ratio (GPR) of 2.8 based on the maximum permissible Gross Floor Area (GFA) of approximately 122,711 sq ft, translates to a land price of approximately S$1,173 per square foot per plot ratio (psf ppr). With the inclusion of a 10% bonus balcony and a proposed plot ratio of 3.08 (2.8 + 10% balcony), the land price works out to approximately S$1,111 psf ppr, inclusive of a development charge of approximately S$6.1 million, subject to the authorities’ approval. Each owner will stand to receive a gross sale price of approximately S$1.4 million to S$2.32 million upon a successful sal...

Full article: https://www.iproperty.com.sg/news/kemaman-point-sold-to-s...

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