Potong Pasir Avenue in Singapore is home to a number of well-built residential properties and architectural masterpieces. One of them – The Raintree Gardens – will pave the way for the construction of the brand new, ultra-modern development known as The Tre Ver. The former gardens were put up for sale in 2016 before developers lunged on the opportunities to redevelop old sites from 2017. The Tre Ver condo development is on a 99-year-old leasehold and is expected to house approximately 500 state-of-the-art units. The brand new development is the third successful collective sale after the Harbour View Gardens and Shunfu Ville.
A collective sale or otherwise known as an en bloc is a sale whereby a single investor buys out multiple properties from different people who receive a one-off payment. The developer UOL JV UIC bid and won the land at a price of over $300 million, with each owner set to receive around $1.9 million for their property. Currently, the UOL Group Limited and United Industrial Corporation are in a 50: 50 partnership to see the rise of the Tre Ver condos by the year 2022. Nature lovers will love the rich greenery around the Tre Ver development and appreciate the calm Kallang River, which creates a serene and relaxing environment where they can forget their worries.
The development is located near major road networks, making it very convenient if you need to commute to and from your home regularly. The amenities in and around the area are in plenty from renowned educational institutions like St. Andrew’s Junior College and Cedar Girls Secondary School. Tre Ver will also be a stone throw away from commercial developments, making shopping easy for residents living in the condo. The Tre Ver condos will be available in variations from 1-bedroom to 4-bedrooms to cater for all types of families.