The Artra is being developed by Tang Skyline Pte Ltd (a subsidiary of Far East Consortium International) after it submitted the highest bid of S$376.9 million for this plum city fringe site. This attractive land parcel at Alexandra View saw an intense battle among 10 other developers with Tang Skyline beating them all with its top bid working out to about S$9,158 per sqm or $851 psf ppr. From this figure, we estimate the breakeven price for this new development to be around $1,350 to $1,400 psf.
Artra is expected to include a maximum of 21 commercial units, including a supermarket of at least 1,000 sqm. The Artra is strategically located next to Redhill MRT Station and could possibly yield around 400 residential units. Artra is on a 8,398.5 sq m site close to Tiong Bahru Plaza, Queensway Shopping Centre and IKEA Alexandra. Nearby schools include Crescent Girls’ School and Gan Eng Seng Primary and Secondary Schools.
Artra is well connected to major arterial roads and expressways such as Alexandra Road, Tanglin Road, River Valley Road, Grange Road, Ayer Rajah Expressway and the Central Expressway. With its close proximity to Orchard Road, the Central Business District (CBD), Marina Bay, VivoCity and Sentosa, the development will appeal to savvy investors and discerning homebuyers who are seeking quality residences in a neighbourhood that has excellent access to public transportation networks and modern lifestyle amenities of the city.
Schools nearby include Gan Eng Seng Primary School, Radin Mas Primary School, Crescent Girls’ School, CHIJ Saint Theresa’s Convent. The development is in close proximity to numerous shopping malls, cafes and food centres such as Anchorpoint Shopping Centre, Tiong Bahru Plaza, IKEA Alexandra, Valley Point Shopping Centre, Great World City, Bukit Merah Central Food Centre and Redhill Food Centre.
