New Condo @ East Coast Road (Katong Omega Apartments)

SINGAPORE-LISTED Global Dragon Limited, the former TMC Education Corporation, said it has agreed to acquire Katong Omega Apartments in a collective sale for S$46.31 million at the close of its public tender on April 5.

This was the highest bid in a contest of seven bidders at the close of the public tender on April 5, according to marketing agent Teakhwa Real Estate.

In a regulatory filing on Friday, Global Dragon said it submitted the bid through wholly owned subsidiary GDL Land Pte Ltd.

The 18-unit freehold development in District 15 has a land area of about 27,902.2 sq ft, zoned “residential” with the plot ratio of 1.4 and allowable height of up to 5 storey.

The potential gross floor area (GFA) is about 39,063.4 sq ft and this would translate into about 36 apartments of about 1,076 sq ft per unit for the new residential development, subject to relevant authority’s approval, said Sieow Teak Hwa, managing director of Teakhwa Real Estate.

The property is also within 1-kilometre from Tao Nan and CHIJ (Katong) Primary School, as well as near eateries in the nearby 112 Katong, Parkway Parade and Roxy Square.

It is also a 3 to 4 minutes’ walk to the future Marine Terrace MRT station, and a short 10 to 15 minutes’ drive to Marina Bay, Central Business District or Changi Airport.

Things you might want to know more about New Condo @ East Coast Road (Katong Omega Apartments) District 15