Half of Riverfront Residences units sold

Last month, Riverfront Residences near Hougang MRT station, began its sales. In the wake of the latest round of real estate cooling measures by MAS on July 5, the project saw overwhelming responses from buyers.

Riverfront Residences, the Hougang new launch, was an en bloc redevelopment of Rio Casa, which was sold to a joint venture vehicle that consist of Oxley Holdings, Lian Beng Group, KSH Holdings and Super Group at the price of $575 million before other cost.

KSH Holdings, a listed construction company has the $266.3 million contract to build the project, which includes 9 blocks of residential blocks, 21 houses, 6 retail shops, 2 basement carparks and recreational facilities.

It plans to begin construction in November and complete in February 2022.

A member of the developer’s joint venture company has reported that Riverfront Residences psf has transacted 52% of its 1,472 units.

Source: The Straits Times

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