For more information on this upcoming District 01 Central Boulevard mixed development consisting retail shops and offices, please click on the following links:
It is expected that this mixed development will start at the end of the year or first quarter of 2018. The subsidiary company of IOI Properties named Wealthy Links Pte Ltd had a surprising bid of a $2.56 billion bid for the site last year. It has set a new benchmark for having a $1,689 per square feet per plot ratio. However, the company is not a new comer in the Singapore market. Having its South Beach Residences integrated mixed-use development joint venture with City Development Ltd, the company IOI Properties Group maintains that the higher price was justified by Central Boulevard’s premium location, which is expected to attract major financial institutions and multinational companies. Moreover, the investment is for the long-term.
The company is strengthening their optimism, but the investors are not warmed to its cash calls that could raise RM1.52 billion ($483 million) and expand its share base by twenty-five per cent up to 5.43 billion shares.
It is also becomes tiring to investors about the numerous cash-raising, earning dilutive exercises. In fact, since 2014, the company has undertaken the rights issue and private placement, which raised RM2.4 billion total.
It is prospectus, the company states that they had procured and drawn down the bank borrowings of $2.83 billion. Thanks to the consideration of Central Boulevard for their full settlement.
A lot of more things are to see once the development of the property started.
(Pending approval for Sale / Seeking indication of interest)
CENTRAL BOULEVARD TOWERS PRICE DEVELOPMENT SPECIFICATION
Project Name: Central Boulevard Towers
Address: Central Boulevard, Singapore
Developer: Wealthy Link Pte Ltd (A subsidiary of IOI Properties Group)
Description: Proposed mixed development consisting of retail shops, food and beverage outlets, offices with communal facilities
Tenure: 99 years leasehold
Total Units: To be advised
Site Area: Approx. 116,990.69 square feet or 10,868.7 square meters
Expected T.O.P.: To be advised
Expected Completion: To be advised
Unit Types: To be advised
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The following images show price comparison in District 01 from 99.co, including Marina One Residences, The Clift, V on Shenton, The Sail at Marina Bay and others.
CENTRAL BOULEVARD TOWERS PRICE LOCATION MAP
CENTRAL BOULEVARD TOWERS PRICE SITE PLAN
CENTRAL BOULEVARD TOWERS PRICE FLOOR PLAN
CENTRAL BOULEVARD TOWERS PRICE SHOWFLAT VVIP PREVIEW REGISTRATION
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