Phoenix Residences By OKP Holdings

21/09/2020

Phoenix Residences – Situated at the Centre of Bukit Panjang
District 23 located at Bukit Panjang has always been in demand with regards to the property that are located around the area. This is because there are many prime amenities and the district is just a short drive away to Bukit Timah via Upper Bukit Timah Road as well as Jurong East. The convenience provide residents with various amenities at the doorstep and therefore Phoenix Residences located at Phoenix Walk is a highly sought after location.

There are many amenities that are located at Phoenix Residences District 23 and these include leisure spots like dining, retail and shopping. Phoenix Residences is a short distance from all these amenities and everything that you need is a short walk or short drive away. There are also many iconic shopping centres that are located near to Phoenix Residences such as Bukit Panjang Plaza and Hillion Mall and therefore convenience is right at your doorstep.

For residents of Phoenix Residences who are looking for eateries near to the development, Bukit Panjang is known to be a area where there are many gourmet eateries that are located in the residential estate. Some of these dining places are located along the shophouses along Upper Bukit Timah Road as well as Bukit Panjang Road and therefore you can always catch some quality dining meals after your work or with your family. No more cooking is needed.

Despite being located at District 23, Phoenix Residences presents an ideal option for buyers who would like to live near their work places. Phoenix Residences is located near to Jurong which is near to the Jurong East Commercial area where they are many offices and hence Phoenix Residence is simply a short drive away from Jurong East District.

Phoenix Residences located at Bukit Panjang is also located near to many hospitals and care centres and this makes an excellent retirement home. For example, Phoenix Residences is located near to Ng Teng Fong Hospital as well as other day care centres. Getting to the hospital for checkups and specialist appointments is therefore very easy and convenient.

21/09/2020

https://www.edgeprop.sg/property-news/okp-holdings-buys-phoenix-heights-331-mil

Singapore-listed infrastructure and civil engineering company OKP Holdings announced that a 25% owned associated company, USB Holdings, has acquired the 32-unit Phoenix Heights en bloc for $33.1 million.

The apartment block is located at Phoenix Avenue, off Upper Bukit Timah Road and Bukit Batok Road as well as near the Bukit Panjang MRT station. Built in 1970, Phoenix Heights sits on a 42,753.5 sq ft site with a 99-year lease with effect from 1969. USB intends to apply for a fresh 99-year lease for the property which it intends to redevelop.

The site has a plot ratio of 1.4 and can be redeveloped into a new development with a maximum gross floor area of 59,585 sq ft. Based on the $33.1 million purchase price, the land rate translates to $556 psf per plot ratio. This is lower than the initial asking price of Phoenix Heights when it was first launched for tender on June 7, which was $36 million. The tender closed on July 10.

USB has already paid a tender deposit of $180,000. Another 10% of the purchase price which amounts to $3.13 million (less the tender deposit) will be paid within a fortnight from the date of acceptance of the offer.

Phoenix Heights in the second en bloc sale to go through since the property cooling measures were announced on July 5. The first was GuocoLand’s purchase of Casa Meyfort on Jul 10 for $319.88 million. The price is also lower at than the $340 million that the owners had asked for back in January, and was relaunched for sale in April.

Phoenix Heights is the second en bloc site sold below its asking price following the latest property cooling measures

21/09/2020

OKP Holdings Limited (OKP) and its subsidiary corporations are a leading transport infrastructure and civil engineering group in Singapore. The Group specialises in the construction of airport runways and taxiways, expressways, flyovers, vehicular bridges, urban and arterial roads, airport infrastructure and oil and gas-related infrastructure for petrochemical plants and oil storage terminals.

We also undertake maintenance works for roads and road-related facilities as well as building construction-related works. Over the past decades, OKP has expanded its core business to include property development and investment.

Wholly-owned subsidiary corporation Or Kim Peow Contractors (Pte) Ltd celebrated 50 years in business in 2016, was started by founder and Chairman, Mr Or Kim Peow, in 1966 as a sole-proprietorship. Since then, the company has grown its capabilities and established its track record to become a leading transport infrastructure and civil engineering group today with two core business divisions – construction and maintenance. We tender for both public and private civil engineering and infrastructure projects as well as maintenance contracts.

Our various clients include both public and private sector organisations. Public sector clients include the Housing & Development Board, JTC Corporation, Land Transport Authority, National Parks Board, Public Utilities Board and Urban Redevelopment Authority. In the private sector, clients include the Changi Airport Group, ExxonMobil, Foster Wheeler Asia Pacific Pte Ltd, and WorleyParsons Pte Ltd.