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Thread: Mixed Developments in the CBD :: The Riviere and Midtown Suite

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    Default Mixed Developments in the CBD :: The Riviere and Midtown Suite

    One new mixed development that is exciting interest in the city centre is a mixed development that combines conservation warehouses with the Riviere condo and serviced apartments. This is on the site of the former Zouk night-spot along the Singapore River, and is being developed by Frasers Property, after having won the site in a tightly contested GLS tender.

    On the surface, the land price of $1,733 for the Riviere site is off-putting. Based on that alone, the break-even would have to come in at close to $2,400 PSF, which could lead to a selling price of around $2,800 PSF. This is comparable to the current Martin Modern pricing, and Martin Modern is continuing to sell, though not a tremendous pace. And considering that [URL="https://esingaporeproperty.sg/property/riviere-condo/"]the Riviere condo[/URL] is supposedly in a better location, this doesn't sound too bad. But Riviere has another card up it sleeve. It has a commercial component including Frasers Residence Promenade, and to developers like Frasers Property who has a portfolio of commercial property, that is the real trick. They can afford to bring the residential component pricing lower, and make it up on the commercial property value.

    The other one is Midtown and Midtown Suite along Beach Road. That one will likely be priced even higher, close to the pricing for South Beach Residences that is already commanding over $3,000 PSF for a 99 year leasehold site. It will boast panoramic sea views, but whether that justifies such a price tag is another matter.

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    Default Re: Mixed Developments in the CBD :: The Riviere and Midtown Suite

    Any info on midtown suite with regards to project factsheet or sale date?

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