Flamingo Valley launching soon
Flamingo Valley (en bloc 2007)
Flamingo Valley was bought by Frasers Centrepoint for $194m back in early 2007, plans to develop the freehold site was put on hold due to the uncertain economic outlook in mid-2008 to 2009. They decided instead to rent it out for the time being in late 2008.
Potentially, the old 185-unit condo would be able to yield a five-storey condo with 300 units in the 335,161 sqft site. With a gross plot ratio of 1.4, the developer has forked out about $413 psf ppr.
Date of launch is still unknown, there aren't any rumours on the ground at all. However, three years is a long time to hold on to something, and it could be that they're waiting for the existing rental leases to run out. We're guessing 2010 is the year the developers make good on their investment.
Developer: Frasers Centrepoint
Amount paid: $194m
Estimated number of units: 300
Estimated price: $890 - $910 psf
Via Google Maps (Note: Site outline is approximate)
Via Google Street View.
Situated in the heart of the Siglap landed estate, it looks to be a quiet and peaceful development. A quick bus-ride or leisurely walk brings residents to Siglap Shopping Centre and the various restaurants nearby. Siglap has a kind of laid-back atmosphere much like Holland Village.
Bedok Town Centre and MRT is pretty close by too. This place could prove quite popular among fans of the East Coast/Katong/Siglap area.
Required reading: Asiabuilders - "Frasers inks deal to buy Flamingo Valley for $194m" and AsiaOne - "Firms shelve supply of 1,000 new apartments"
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Source : H88.com.sg
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