City Development (CDL) lodged the top bid through its fully owned subsidiary CDL Regulus Pte. Ltd. For the 99-year leaseholder Haus of Handy site. This will see the transfer of S$212,200,000 translating to S$1,722 psf per plot ratio.CDL emerged the top bidder of this private housing offered on a state tender that closed recently. Although the residential site attracted up to 10 bidders, CDL won the bid in a margin of about 12.3% for the Handy Road tender. The Haus on Handy site attracted several bidders due to its strategic location in District 9 next to Orchard Road and proximity to various amenities.According to the group’s chief executive, Haus on Handy has enormous potential. With the recovering Singapore residential market, there are plans to develop 3 residential towers between 8 and 10 storey. This will constitute a basement carpark and up to 200 apartments.The estimated breakeven coast for the upcoming Haus on Handy is around S$2,300 psf. The site is expected to receive an average selling price of approximately S$2,650 psf.
Haus on handy sits on a site area of 51,626 square feet and enjoys its location in the prime District 9 which is matured and among the highly sought-after residential areas. Considering that it is situated on elevated land, Haus on Handy offers the potential to exploit the skyline and city views.
The site also enjoys unbeatable connectivity; Dhoby Ghaut MRT station is just 50 meters away. The triple line interchange is connected to a sheltered walk away. The Orchard Road Shopping Belt, Marina Bay Financial District and CBD are also a few minutes drive.
Haus on Handy is also close to essential amenities and good schools that will make the lives of its future residents easier. Considering that CDL are established developers, Haus on Handy is certainly going to be success featuring top-notch facilities to benefit the residents.