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EL Development has launched Eldix, a freehold industrial project at No 11 Mandai Estate at an average price of S$470 psf.
Lee Sze Teck, Senior Manager of Research and Consultancy at Dennis Wee Group (DWG), said the price is reasonable, as it is less than 20 percent higher than leasehold prices.
“With the government limiting strata subdivision to selective sites, we could see a rejuvenation of older freehold industrial developments as developers look to alternative sources of business, thus giving investors an opportunity to own a freehold industrial unit,” he noted.
The project comprises 169 units ranging from 1,388 sq ft to 1,862 sq ft. Units from the first to 11th floors are served by a 20-foot ramp that provides easy mobility on each floor. In addition, the majority of units enjoy a six metre ceiling height, coupled with 10 kilonewton psm floor loading provision.
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