The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jalan Loyang Besar/Pasir Ris Rise to Hoi Hup Realty, Sunway Developments and Oriental Worldwide Investments. The consortium submitted the highest bid of some S$141 million in the tender for the site. Their winning bid translates to a land price of about S$361 per square foot of gross floor area. The tender for the...
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Robertson Quay condominium Riverside 48 saw a bulk purchase of 33 units on Sept 2 at an average price of $1,520 psf, based on URA Realis data from Aug 30 to Sept 6. The 33 units transacted are one-bedroom apartments, with sizes ranging from 689 to 904 sq ft. The buyers paid $1.03 million to $1.39 million for each unit. Ban Hin Leong was the developer of the project, which was launched in September 1997 and...
On the eve of the public preview of the 297-unit Optima @ Tanah Merah two years ago, a queue had already formed outside the showflat. All the units were snapped up within three days at an average price of $810 psf, according to a press release by TID, a joint venture between Mitsui Fudosan and Hong Leong Group. The attraction was its location right next to the Tanah Merah MRT station. At that time, the...
Prime Minister Lee Hsien Loong said he expects the recent slew of housing measures to stabilise the market for new flats in four years. He also gave his assurance that the prices of new flats will remain affordable. Mr Lee was speaking at a ceremony to mark the completion of upgrading works in a precinct in Ang Mo Kio. In his speech, Mr Lee noted the concerns many Singaporeans have over buying new flats...
Landed home prices in Singapore grew at a faster pace than those of non-landed homes in the third quarter of this year, according to DTZ Research. Average resale prices of leasehold landed homes in non-prime districts grew 3.8 percent quarter-on-quarter in Q3, while average resale prices of freehold landed homes in the prime districts of 9, 10 and 11 increased by 2.8 percent quarter-on-quarter. In the...
A recent tender for a residential site in Pasir Ris site drew unexpectedly strong interest, with a news report saying 13 developers slugged it out in a close fight. The top bid was a mere 1.6 per cent above the next highest one. The report was wrong in one respect. While there were 13 bids, there were altogether 20 developers involved - some in joint bids. Analysts who are surprised by the keen interest...
At the age of 70 when most people are retired, former Labour Permanent Secretary Han Cheng Fong has decided to strike out on his own with a focus on China, where he has done deals for former employers like DBS Land and Fraser & Neave. His first project, in a joint venture with a Hong-Kong based Chinese lady whom he declined to name, is an office, shopping and hotel complex in Chengdu, which he values...
Midlink Plaza in Middle Road has been sold for S$126.8 million to 122 Middle Investment, marketing agent Credo Real Estate said yesterday. Shareholders of 122 Middle Investment include Millennium Land, an associate company of Singapore-listed Lian Beng Group, which plans to redevelop the site into a hotel, Credo added. 122 Middle Investment has made an outline planning permission application to the Urban...
Pacific Mansion, a 128,353.16 sq ft residential site at River Valley Close, has been put up for en bloc sale with an indicative price of S$990 million (around S$2,008 psf ppr). The freehold site comprises 288 residential units and two commercial units. It has a gross floor area (GFA) of 45,821.88 sq m with a gross plot ratio of 3.8 and can be redeveloped into a 30- to 36-storey condominium. If the...
The Urban Redevelopment Authority (URA) has launched the industrial site at Soon Lee Street for sale by public tender today. This is the last industrial site to be released for sale under the Confirmed List of the 2nd half 2011 Industrial Government Land Sales Programme, as announced by the Ministry of Trade and Industry on 30 June 2011. The other two industrial sites namely, at Kaki Bukit Road 4 and...