Units at Rivercove Residences 2.5 times subscribed

By
/ EdgeProp Singapore
|
April 10, 2018 2:42 AM SGT
The preview of the 628-unit Rivercove Residences executive condo (EC) started on April 1, and drew 9,000 visitors by the close of April 8. During this eight-day period, the project received 1,500 e-applications, which means the project is 2.5 times subscribed. E-applications will close on April 11, with public ballot and sales to commence on April 14.
Rivercove Residences is located at Anchorvale Lane, and within walking distance of Tongkang LRT station. The project is developed jointly by Singapore-based, privately-held property developer Hoi Hup Realty and Malaysian developer, Sunway Developments.
Rivercove Residences drew 9,000 visitors in the eight days since the sales gallery opened on April 1 (Credit: Hoi Hup Realty)
The EC comprises 10 blocks of 16 storeys each. About 77% of the units (484 units) are three-bedders, with sizes from 904 sq ft to 1,163 sq ft, and are priced from $830,000 to $1.13 million. Another 112 units (18%) are four-bedroom apartments which measure 1,184 sq ft to 1,281 sq ft, and are priced from $1.1 million to $1.3 million. Five-bedroom units make up 32 units, and are sized at 1,485 sq ft, with prices from $1.34 million to $1.47 million.
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Rivercove Residences is expected to be completed by Sept 2020. Hoi Hup and Sunway had purchased the Rivercove Residences EC site in a government tender on Sept 2016. The purchase price for the 99-year leasehold site was $240.95 million ($355 psf per plot ratio).
Incidentally, Hoi Hup was the developer of Hundred Palms Residences, the 531-unit EC on Yio Chu Kang Road that was launched last July, and sold out in seven hours.