User:Whemix/sandbox

Pasir Ris 8 or Ryse Residences is an integrated development comprising of residential, commercial, town plaza, bus interchange and town plaza, linked to Pasir Ris MRT.

The 99 year leasehold white site was awarded to Phoenix Residential Pte Limited – a joint venture between Allgreen Properties and Kerry Properties in 2018. Allgreen Properties Limited is the real estate arm of the Kuok Group and is one of the largest property groups in Singapore. It owns a diversified portfolio of residential and commercial projects such as Skysuites@Anson, Holland Residences, Fourth Avenue Residences, Great World City, and Tanglin Mall.

The site has an area of 38,000 sqm with a plot ratio of 3.0, yielding 95,000 sqm of gross floor area. It is bounded by Pasir Ris Drive 8 in the west, Pasir Ris Drive 3 in the north and Pasir Ris Central in the south. The winning bid is nearly $700 million, which works out to be $684.48 per square foot per plot ratio (psf ppr).

There is a lot of interest in this development as it is only one out of ten integrated developments in Singapore. There are still several huge plots of empty land around that is subject to detailed planning and other government land sales, that would in the future inject more vibrancy and further upside to the area. The site also faces Pasir Ris Beach Park which has an area of 70 hectares, inclusive of a 5 hectare mangrove forest with its diverse tree species and wildlife.

Pasir Ris MRT is going to be an interchange station for the existing East West Line (EW) and Cross Island Line (CRL) that is expected to halve the travel time across the island. The CRL is also expected to link Pasir Ris MRT to Punggol, making the northeast area even more accessible.