Find out on this upcoming freehold residential development, The Iveria, in District 9, please click on the following links:
The Iveria Condo is the latest residential condo in the Singapore’s upscale River Valley district. The Macly Group is the developer overseeing the development of this new executive condominium. The Group handles small to mid-sized freehold developments that attract more investors due to their affordability and convenient locations.
The new condo sits at the junction of two roads: Kim Yam Road and River Valley Road. This strategic location gives the new development dual fronts of between 30 and 35 meters. As a result, the condominium is rather unblocked, particularly units in front of the low-rise residences of Oxley Road. On the other hand, higher-level units may enjoy breathtaking views northwards towards Orchard Road and southeast towards Marina Bay.
(Pending approval for Sale / Seeking indication of interest)
THE IVERIA LOCATION MAP
Somerset Station along Orchard Road is the nearby MRT station. But upon completion of the Thomson-East Coast Line by 2021, the executive condominium will be 600 meters or a walking distance of fewer than 10 minutes away from the Great World City MRT station.
This upcoming condominium will enjoy easy access to buyers and tenants because River Valley generally has huge rental demand because of its closeness to the CBD and the stylish Robertson and Clarke Quay. River Valley is one of leading Singapore’s residential districts. It consists of a lovely blend of private residences, refurbished old warehouses, and conserved shop houses.
Due to its closeness to Orchard Road, this neighbourhood has easy access to modern facilities and amenities. For instance, UE Square Mall that will cater for all your shopping needs is just a walking distance of 10 minutes away while Robertson Quay is only 9 minutes’ walk away from the condominium. Family with young kids will find this brand new condominium attractive, as it is less than 1 km away from the renowned and well-performing River Valley Primary School.
THE IVERIA PRICE
The Iveria occupies a piece of land where former Riviera Point stood. The Macly Group secured an en bloc sale deal that saw it buy Riviera point for S$72 million in February 2018. This buying price translates to a land rate of approximately S$1,462 psf ppr. Due to the lower level of the land rate, the condo will gain a price competitiveness edge over its competitors. The development will attract investors searching for quality, budget-friendly homes.
The following image from Squarefoot shows another condominium that was launched recently, RV Altitude, with a latest transacted price of about S$3039 per square foot. As for The Iveria price, basing on the land price of S$72 million, after calculating the construction cost, legal fees, marketing cost and others, the breakeven price should be around S$2100 to S$2200 per square foot. Please contact us at 61001778 or register your interest for the indicative price.
Another nearby development, the Martin Modern, has an average selling price of about $2600 to S$2800 psf, is more than 67% sold.
|Project Name||The Iveria|
|Address||No. 2, Kim Yam Road, Singapore 239320|
|Developer||Macly Iveria Private Limited (Macly Group)|
|Description||Proposed residential development with recreational facilities|
|Tenure||Freehold (Estate in Fee Simple)|
|Total Units||About 51 units|
|Site Area||Approx. 1364.9 square meters or 14,691 square feet|
|Expected T.O.P.||30th April 2023|
|Expected Completion||30th April 2026|
|Unit Types||3 + Study|
ABOUT THE DEVELOPER
Macly Group, the developer behind The Iviera, has been in the real estate development business for 32 years. The group has transformed into an authority in residential developments that range from private condominiums, landed properties, cluster houses, mixed developments, to commercial properties. The company has successfully completed high-end developments like Mackenzie 138, Thomson V1 and V2, Newton Edge, Suites @ Amber, and Guillemard. It has also expanded its global presence by collaborating with property development giants like Roxy-Pacific Holdings Limited in the development of properties like Wisma Infinitum in the Kuala Lumpur CBD.
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PLEASE DIAL SHOWFLAT HOTLINE : (+65) 6100 1778