West Coast Vale Condo by CDL

West Coast Vale Condo – CDL has placed the Top Bid of $472.4 million ($800 psf ppr) for West Coast Vale. The top bid was a massive 35% higher than the $592 psf ppr paid by China Construction (South Pacific) Development Co. in February 2017, for another site ( Twin View condo) just diagonally across at West Coast Vale.

China Construction (South Pacific) Development Co. participated in this tender, only to fall behind CDL in 2nd place with a bid of $469 million ($794 psf ppr).

Parc Riviera, which is a 752-unit private condo situated just adjacent to the subject West Coast Vale GLS site is 97% sold (as of December 2017) – at an average psf of $1,200. It will perhaps offer additional confidence to developers within the area despite the existing supply.

The estimated break-even price for the West Coast Vale GLS site to be around $1,250 psf and the estimated selling price for West Coast Vale Condo is expected to be in the  range of $1,400 – $1,500 psf.

West Coast Vale Condo is likely to comprise of 2 residential towers (36 storeys tall each) with around 730 units in total.

More information at https://investintproperty.com/properties/west-coast-vale-condo/

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