Jui Residences @ Serangoon Road
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The site which is existing National Aerated Water Co. Ltd was sold to Malaysia Developer, Selangor Dredging. The plot at 1177 Serangoon Road comprises of a two-storey art-deco-styled industrial building on the site.
This new land parcel at 1177 Serangoon Road is strategically located along the Kallang River, it has a land area of 31,705 sq ft and an allowable gross floor area of 88,775 sq ft based on a plot ratio of 2.8.
Jui Residences is primely located in an established city fringe near commercial and recreational amenities near Potong Pasir MRT. Jui Residences is expected to yield 117 apartments with estimate about 70 sq m (about 754 sq ft) each, 7 commercial units.
Set aside from the $47 million land cost, there would be an additional $22.66 million payable in estimated development charges to intensify land use from an industrial to residential purpose, Savills added. The total outlay translates to $785 psf per plot ratio.