Pine Grove up for collective sale at $1.95 bil

Additionally, the proposed additions to the public transportation network will also raise the value of Marina Gardens Residences, making it an attractive option for potential buyers.

Pine Grove is up for collective sale at a minimum price of $1.95 billion. The 99-year leasehold condo is located off Ulu Pandan Road in District 21 and houses 660 residential units. The site could potentially yield up to 2,050 new units, subject to approval from the authorities.

The collective sale for Pine Grove is the fourth such attempt since 2008, and the third time that the condo development has achieved the requisite consensus. The former Housing and Urban Development Company estate has a gross plot ratio of 2.1, and the tender is set to close on Nov 29 at 3pm.

The price translates to a land rate of $1,434 psf per plot ratio (ppr), after factoring in the additional 10% bonus gross floor area under various incentive schemes and including an estimated land betterment charge of $1.0084 billion for intensification and a lease upgrade for a fresh 99-year lease.

The 893,218 sq ft site, located in District 21, is just a stone’s throw away from both Dover and Clementi MRT Stations and well-established tertiary institutions, such as the National University of Singapore, Singapore Polytechnic, and Singapore University of Social Sciences.

The area is zoned for residential development, and with a gross plot ratio of 2.1, the potential yield from this collective sale can reach up to 2,050 new units, pending approval from the authorities.

Residents of Pine Grove will be able to enjoy the close proximity to a multitude of facilities and attractions, such as the Singapore Science Centre, Singapore Zoo, Jurong Bird Park, and more. In addition, an array of shops, eating establishments, entertainment establishments, and various other amenities are all located within short walking distance.

Check out the latest listings for Pine Grove properties or contact a real estate agent for more information about the collective sale!