Pheonix Road new development in D23

[sgrealestate]

Row of 36 apartments and shops along Phoenix Road was acquired by CNQC Realty, a subsidiary of real estate developer Qingjian Realty Group. This new residential development is called The Arden and the location of this residential development is situated along Phoenix Road, next to Bukit Panjang vicinity of District 23.

The en bloc sale was concluded at a price tag of S$42.6 million which came in as second collective sale attempt. This S$42 million is above the owner’s asking price and translates to a $630 psf ppr in addition of the estimated differential premium payable.

Once the enbloc sales is completed, each owner will receive approx. $1.08 million to $1.44 million proceeds depending on the unit sizes which range from 83 sq m to 91 sq m.

The Arden has site area that occupies approx. 5,853 sq m, equivalent to 63,002 sq ft with a gross plot ratio of 1.4. This site is categorised as a zone for residential use and development under the Draft Master Plan 2019 by the Urban Redevelopment Authority (URA).

Upon approval by relevant authorities, The Arden offers approx. 80 new condo residential units with units type ranging from 1-4 bedrooms and unit average size of approx.. 950 sq ft.

The Arden location is in Bukit Panjang which is a mature neighbourhood in District 23.
The Arden is apporx. 300m from Phoenix LRT station and a short 8-mins walk to Bukit Panjang MRT Station and bus interchange which provides easy and smooth connectivity to different areas via all these MRT/LRT infrastructure for this new condo project.

Plenty of shopping amenities available such as Junction 10 Mall, Hillion Mall, Bukit Panjang Plaza, and also with close vicinity are reputable schools like Choa Chu Kang Secondary, Pioneer Junior College, and ITE College West.

The Arden price will be highly competitive in today real estate market and industry.