Capitaland and HPL unveil The Interlace

omaapartments-5Capitaland and Hotel Properties Limited (HPL) unveiled the design for The Interlace, a new residential development located on the former Gillman Heights condominium site.

Designed by Ole Schereen, partner at the Office of Metropolitan Architecture (OMA), The Interlace comprises a total of 1040 apartment units that will be built on an expansive eight-hectare site set amisdst the green belt at the Southern ridges of Singapore.

The project will be officially launched to the public in October. In a press conference at the Singapore Raffles Hotel, Patricia Chia, chief executive officer of CapitaLand Residential Singapore revealed that the total investment for the project is estimated at S$1.4 billion which includes the price of the land at $548 million and construction costs (about $250-$270 per square feet). Also, the credit margin spread for the project is 3.48% and is financed by 7 banks for 5 years at $660 million with $1 billion on demand. The project’s legal completion date is in 2014.

Chia also said that the prices for the apartments will be comparable to other high-end properties in Singapore.

The Interlace will explore a refreshing approach with its design. Stacked in a hexagonal arrangement, it will be a 31-storey apartment block, each six stories high to form eight large scale courtyards. The intelocking blocks will resemble a ’vertical village’ comprising sky gardens and both private and public roof terraces as well other varying amenities.

The rooms will range from a two-bedroom apartment at approximately 800 square feet to a super penthouse with a private roof garden at over 6,000 square feet. The project’s site area is around 871,884 square feet. One of the bespoke apartments and sales gallery will be designed by OMA whereas a different interior designer will be commissioned for the other two penthouses.
The project is also eco-friendly in its design. Shereen remarked: “We made sure that the project connected with the environment so we will use passive strategies to reduce environmental impact. Also, we hope to expect a high score for a Green Mark award in Singapore. The environmental and social sustainability is already integrated into the design.”

The Interlace will enjoy a central location that is easily accessible via expressways as well as mass rapid transit stations. Furthermore, the development is close to various educational institutions as well as entertainment facilities.

Christopher Lim, group executive director of HPL stated: “With the site’s excellent location in the lush Southern Ridges area and the accessibility to retail, entertainment and other facilites, we are confident that The Interlace will appeal to well-travelled and cosmopolitan homebuyers who have been searching for a home with a difference.”

by Priya de Langen
SOURCE: Property-report.com

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