About The Poiz Residences and The Poiz Centre Developer
MCC land (Singapore) Pte Ltd (the ‘Company”), a subsidiary of Metallurgy Corporation of China Ltd listed in Hong Kong and Shanghai, is a developer and engineering services provider in Singapore.
A Fortune 500 company, and a major driving force behind the phenomenal growth of China’s steel industry. The corporation is also a reputable contractor behind may milestone projects both locally and on the international stage. In Singapore MCC are actively engaged in property development as well as construction engineering. In the latter industry, MCC has been registered by BCA as an A1 contractor in both general building (CW01) and civil engineering (CW02).
MCC Land (Singapore) Pte Ltd is a developer with a presence of over 14 years in Singapore, the Company aims to create inspiring lifestyles and landscapes that will propel Singapore into a 21st century global city in Singapore.
A Fortune 500 company, the Company has been instrumental in shaping the city landscape of Singapore by being involved in the building of numerous notable landmarks, including Universal Studios at Resorts World Sentosa and the Keppel Distripark.
MCC Land has developed and/or managed a number of quality housing projects, such as Forestville, Sea Horizon, The Canopy and 1 Canberra Executive Condominium. From Executive Condominium to Private Condominium are The Nautical, Canberra Residences and Satorini. The Poiz Residences and The Poiz Centre is MCC Land’s the first mixed development in Singapore.
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What will be the Selling Price of The Poiz Residences?
The Poiz Residences and The Poiz Centre land tender which closed on 19 Aug with a total of 15 bids, three times the number of bids received compared to that of the mixed-use site of Yishun Centre Known as North Park Residences. This shows how confident the developers is over this site.
This rare parcel at Meyappa Chettiar Road is likely the only sizeable mixed-use site available for sales at Potong Pasir. 40% of the bids were submitted by foreign developers or consortium comprising foreign companies.
The site was sold to MCC Land (Singapore) Pte Ltd, the highest bidder, at a price of $471.62m or $775.16 psf ppr. This is about 2.25% lower than the previous Potong Pasir Mixed-Use Site (with Retail at First Storey) located at Tai Thong Cresent, where is is now being developed into The Venue Residences and Shoppes. The Venue Residences and Shoppes was bought at $793 psf ppr. on September 2012.
The Poiz Residences and The Poiz Centre is MCC Land’s first mixed development project in Singapore. The Poiz Centre is for Rental only.