The Urban Redevelopment Authority (URA) has on Thursday placed two sites for sale by tender. The first plot is a hotel site at Rangoon Road / Farrer Park Station Road which was made available for sale through the Reserve List system last November. With a land area of about 0.3 hectare, the hotel site is expected to generate a gross floor area of about 13,004 square metres. URA said a developer has...
Industrial
Industrial property developer JTC Corporation has launched an industrial land site at Serangoon North Avenue 4 for sale by public tender. The 0.8 hectare site is part of the Industrial Government Land Sales Programme introduced in December 2011. The site has a lease of 58 years and a maximum permissible gross plot ratio of 2.5. It is zoned for Business 1 development, such as light industry, clean...
Singapore's retail and industrial property sectors are expected to continue to outperform the office market, which is feeling the impact of dampened demand from financial firms, analysts say. Across the board, the pace of increase for rentals and prices in the three sectors declined in the fourth quarter of last year, data released by the Urban Redevelopment Authority (URA) showed yesterday. But the...
Experts have said that commercial and industrial property will continue to outperform the office market this year. This comes after Urban Redevelopment Authority (URA) figures showed higher quarterly prices for industrial (4 per cent quarter-on-quarter) and commercial assets (13.8 per cent quarter-on-quarter). Meanwhile, city rentals have slowed. The trend of cooling office rents is clear. While URA's...
Rents for business park space and offices have stagnated over the last six months. This is according to research by DTZ which is part of commercial property giant UGL Limited. Rent for business park space has remained unchanged at S$4.38 per square foot per month in the second half of 2011. This is a contrast to the robust 6.6 per cent growth registered in the first half. Likewise, average rent for...
The Urban Redevelopment Authority (URA) has released the detailed sales conditions for two industrial sites at Yishun Avenue 9 (Parcels 5 and 6) today. The two land parcels at Yishun Avenue 9 are made available for application under the Reserve List of the 2nd half 2011 Industrial Government Land Sales Programme, as announced by the Ministry of Trade and Industry on 30 June 2011. Developers interested in...
The tender for the industrial site at Soon Lee Street closed on Tuesday with only three bids. The top bid of S$48.1 million was submitted by KNG Group. This works out to S$1226.15 per square metre. It is also about 40 per cent higher than the second highest bid of S$33.8 million submitted by Soilbuild Group. Elitist Development comes in third with a bid of S$27 million. The Urban Redevelopment...
JTC Corporation has awarded the tender for an industrial site at Lavender Street/Kallang Avenue to PLC 8 Development. The firm submitted the highest bid of S$218.3 million. The 60-year-lease site is zoned for Business 1-White and has a land area of 28,348 square metres. The industrial site has a gross plot ratio of 3.0 with a project completion period of 84 months. It was launched for public tender on...
The Ministry of Trade and Industry said it will continue to keep a close watch on the industrial property market and will release more land when necessary to ensure a stable and sustainable market. Trade and Industry minister, Mr Lim Hng Kiang, said this in a written response to a question posed by MP Zaqy Mohamad, Member of Chua Chu Kang GRC. Mr Zaqy had asked whether the ministry had assessed the real...
The Urban Redevelopment Authority (URA) has received five bids for the tender of an industrial site at Gambas Avenue / Gambas Crescent. The top bid for the 21,426.7 square metre (230,635 square foot) site of S$78.17 million was from HLS Development. The tender for the 60-year leasehold industrial site was launched for tender on 18 October after an unnamed party committed to bid at least S$57 million --...