Far East Consortium International (FEC) has successfully bought a Hollandia, site located in prime Holland Road for $183.38 million.
Hollandia is a 4,970.8 sq m freehold condo located right at the junction of Holland Road and Queensway. The site is in a popular high-end condominiums that boast as the enclave of the landed in the area.
The residential development has a six-storey block of 48 apartments that was constructed in mid-1980s.
Each of the owners can expect a good sum payout ranging from $3.3 million to $4.2 million, which translated to an estimated of $2,000 psf on strata area.
The acquired land parcel can be potentially developed up to 12 storeys with an allowance gross floor area (GFA) of 10,004.56 sq m.
The Hollandia condo land rate work out to be $1,703 per square foot per plot ratio (psf ppr).
FEC is excited to present the next most exciting high-end residential development in the prime estate of Holland Village.
The new freehold residential development will be known as Hyll On Holland.