Otto Place EC, a successful joint venture between Hoi Hup Realty and Sunway Development, recently secured an executive condo (EC) site at Plantation Close on February 14 with a winning bid of $423.38 million. This translates to $701 per square foot per plot ratio (psf ppr). The 215,691 sq ft site, which has a 99-year lease, will be transformed into a 560-unit EC called Otto Place EC. Last September, the same partnership also acquired the adjacent 176,973 sq ft Parcel A for $348.5 million ($703 psf ppr). These two strategic sites are ideally situated near amenities such as JEM, Westgate, IMM, and reputable schools like ACS (Primary) and Princess Elizabeth Primary School.
In terms of education, Tengah has plans to build three new schools, including a primary, secondary, and international school. This means parents living in Otto Place EC can provide their children with quality education just a stone’s …