RV Millenia Freehold Condo by Roxy Pacific Holdings Great World City

River Valley Site is located adjacent to Yong An Park Condo and at a walking distance from Somerset MRT and it is currently under the acquisition of Roxy Pacific Holdings. Roxy Pacific Holdings is a small-sized and fast growing property developer located in the Asia- Pacific region. The company is in the process of redeveloping the River Valley Site called RV Millenia at Great World City MRT Station that it purchased at a cost of 110 million US dollars. It has an aim of developing the site into an apartment block that is 18-storeys tall and housing consisting of at least 100 units.

RV Millenia New Development at River Valley Road

RV Millenia River Valley Road has a plot ratio of 2 to 8 as per the Master Plan of the year 2014 for the residential apartment development. The land size of River Valley is 28,798 square foot. The River Valley site is capable of accommodating gross floor area that is approximately 88,697 square foot together with the 10 percent of the balcony area. Roxy Pacific Holdings incurred RV Millenia freehold condo River Valley Road at a total cost of around 1, 582 US dollars per square foot per the ratio of the plot. This combines the cost of development which is 17.6 million US dollars. The transaction made by the company was an estate sale.

RV Millenia Condo Roxy Pacific Holdings in Singapore

River Valley site is at a distance of 200m from the exit of the suggested Great World City MRT station. This station is situated at the junction connecting the road of Leonie hill and that of River Valley. The cost of acquiring River Valley site by Roxy Pacific Holdings was mainly financed by the bank borrowings and the internal funds. However, no material impact was recorded to the consolidated earnings of the group and the net tangible assets of the company for the financial year that ended 31 December 2017.

RV Millenia Great World City MRT Station

As per the Chairman of Roxy Pacific Holdings, Teo Hong Lim the unit mix of the site is still under consideration but it is likely to be composed of two-bedroom and three-bedroom. This is as a result of the long time experience in the developments of the small to medium sized properties with other companies like the Sunnyvale Residences, the Trilive at Kovan, the LIV on Wilkie, AND THE EON Shenton. Also, the chairman said that Roxy Pacific Holdings is after securing a number of sites for the freehold residential projects more so in the prime districts. As an effort to ensuring this has been achieved, the company purchased an old freehold apartment situated at Grange Road. Furthermore, the chairman says the group is after redeveloping the apartment block into a property that is 18-storeys tall and a minimum of 50 units. RV Millenia is the developer Roxy Pacific Homes and is due for launch in Q3 2018

Moreover, Roxy Pacific Holdings limited has a plan of reaping the economies of scale between the projects of River Valley and that of Grange. As per Teo Hong Lim, this can be made possible by hiring the same contractor in addition to buying things from the same conductor when it comes to sanitary ware and the kitchen equipment. Finally, the chairman says they are after having same agents for marketing of the two projects who will cross-sell these developments. Roxy Pacific Holdings Limited is expected to launch the project in the second half of this year.

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