AS THE slump in demand for state land continues, the Urban Redevelopment Authority (URA) opened applications yesterday for two sites on the reserve list. Prior to yesterday, only one out of the 20 sites on this year’s reserve list on which sites have to receive an acceptable bid to trigger the tender process had been sold. And analysts Today spoke to expect the latest land parcels at Dakota Crescent...
Land Sales
IT was the only executive condominium site up for confirmed sale this year. But when the tender closed yesterday at noon, there were no bids received. The 99-year lease site in Punggol - with a land area of 22,497 sqm that can accommodate a 16-storey development - was the fourth EC site put on the market this year by the Government. The other three were on the reserve list, to be launched for tender only...
Did land-sale changes come too late? IN A market where sentiment rules, the Urban Redevelopment Authority's (URA) recent changes to the land sales programme have quite naturally cheered up developers. But has the intervention, which included cancelling the ongoing tenders for two sites, come a little late, and does the nature of the changes hint at the authorities being caught off-guard by the sharp fall...
The Singapore government’s move to cut the number of land sites it is putting up for sale will affect plans to redevelop certain parts of the country. But analysts say it will not slow efforts to rejuvenate the overall landscape as there are many other projects underway. In fact, the move was praised as a prudent one, given the difficult economic environment. Last Friday, the Ministry of National...
The Singapore government has slashed the number of sites it is offering for sale in anticipation of falling demand due to the poor global economy. The Ministry of National Development (MND) has said no sites will be released under the confirmed list in the first half of 2009. And it has cut down the remaining sites for sale for the rest of 2008 from seven to just one. Five sites were moved to a reserve...
The National Development Ministry has announced changes to the Government Land Sales (GLS) programme for the rest of 2008. It said that while Singapore's fundamentals remain sound, the global economic uncertainties have affected the outlook for the country's economy and property market. There were three main changes. Firstly, most of the sites under the confirmed list are being transferred to the...
The Urban Redevelopment Authority rejected the only bid for a transitional office site at Mohamed Sultan Road. The offer price of about S$4.65 million for the site, or about S$502 per square metre of gross floor area, was considered too low. The approximately 6,000 square metre land parcel was offered for sale on a 15-year lease. Transitional office sites were released in response to the shortage of...
Another former school has been made available for use by a commercial or international school to help ease demand for places. The Singapore Land Authority (SLA) will launch a public tender for the former Seh Chuan High School off Upper Bukit Timah Road on Wednesday. The former Seh Chuan High School was last used by the Jurong Gardens School, run by the Movement for the Intellectually Disabled of...
The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Kallang Road and Jellicoe Road to Citywide Land. The company submitted the sole bid for the site at S$51 million. The site has an area of 4,219.2 square metres and a maximum permissible gross floor area of 18,986 square metres. URA said the site is conveniently located at the fringe of the city and situated above...
The Urban Redevelopment Authority has awarded the tender for an industrial site at Kallang Pudding Road to Orion-Four Development. Orion-Four submitted the sole bid of S$10.8 million for the site which has an area of 5,743.2 square metres. The site was launched for public tender on September 3 and the tender closed on October 7. It was offered for sale on a 60-year lease. Source : Channel NewsAsia - 10...