Enbloc Sales of Rio Casa HUDC at Hougang
Enbloc Sales of Rio Casa (HUDC)
Old Development Name : Rio Casa (former Hougang HUDC)
Date Launch : 10 April 2017
Type : Private Condominium
Site Area : 36,811.1 sqm
Plot Ratio : 2.8
Gross Floor Area : 103,071.08 sqm
Date Close : 23 May 2017
Development Name : TBA
Developer : Joint Venture KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital
PSF PPR : ~$706 PSF PPR (include top-up lease)
Developers will pay S$575 million for the enbloc deal. Each existing owners of Rio Casa will stand to receive an amount of $2 million upon successful completion of the sale.
Developers will have to pay a premium of S$208 million to top up the lease to a fresh 99 years lease.
Developers’ Stake
- Oxley Holdings Limited 35%
- KSH Holdings Limited 35%
- Lian Beng Group Limited 20%
- Apricot Capital 10%
More information of the enbloc news can be found at :
http://www.straitstimes.com/business/rio-casa-estate-sold-for-s575-million-in-en-bloc-deal