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.