A residential land site at Jurong West Street 41 attracted 12 bids at the close of tender by the Urban Redevelopment Authority (URA) on Tuesday. Property consultants said the high number of bids reflects the keen interest from developers. It also shows that developers' outlook on the property market has not been dampened by the recent property cooling measure announced earlier this month. Joseph Tan,...
Land Sales
While the latest round of property market cooling measures is likely to hit housing demand significantly, developers are expected to bid actively for the sites on the Government Land Sales programme (GLS) for the first half of this year, as most are situated in good locations. Two days before the Jan 11 announcement of property curbs, the Urban Redevelopment Authority awarded the first GLS site for this...
The tender for a mixed commercial and residential site at Yishun Ring Road/Yishun Avenue 9 has attracted 13 bids. According to the Housing and Development Board (HDB), the highest bid of S$212.1 million was submitted by CEL Property - subsidiary of Singapore-listed Chip Eng Seng Corporation. This translates into about S$8,551 per square metre of gross floor area. The second highest bid was jointly...
A residential site located at Ang Mo Kio Avenue 2 has been awarded to Pinehill Investments Pte. Ltd, which lodged the top bid of S$550 million for the 99-year leasehold site, said the Urban Redevelopment Authority (URA). Launched for tender on 15 November, the site received strong interest from a total of 12 bidders, with Pinehill submitting the highest bid at S$8,502.35 psm on the site’s gross floor...
The Urban Redevelopment Authority received 12 bids at the close of tender for the residential site in Ang Mo Kio Avenue 2 on Tuesday. Pinehill Investments - a wholly-owned subsidiary of Wheelock Properties (Singapore) - was the highest bidder for the residential site for S$550 million, or S$790 per square feet per plot ratio (psf ppr). This was 2.6 per cent above the second highest bid of S$536 million...
A land parcel at 13/15 Wilkie Terrace has been sold to Roxy-Pacific Holdings for S$24.5 million. Its marketing agent, Jones Lang LaSalle, said the plot located off Dhoby Ghaut/ Selegie Road has been sold to a subsidiary of Roxy-Pacific Holdings in a private treaty deal. Jones Lang LaSalle added that the sale price of S$24.5 million reflects a land rate of S$1,259 per square foot per plot ratio based on...
The Urban Redevelopment Authority (URA) has released detailed sales conditions for an industrial site at Woodlands Avenue 12. URA said in a statement on Friday that the land parcel is released for sale under the Reserve List of the second half of this 2012's Government Industrial Land Sales programme. The 30-year leasehold plot has a site area of about 3.9 hectares and a maximum permissible gross plot...
JTC Corporation (JTC) has launched the sale of three plots of industrial land -- one at Ubi Avenue and two at Tuas South -- by public tender. JTC said on Thursday that the three plots form the last batch of the 16 sites in the Confirmed List under the Industrial Government Land Sales (IGLS) for the second half of 2012. Measuring 0.35 hectares, the site at Ubi Avenue 4 has a lease term of 30 years and a...
Two 99-year leasehold residential sites released under the Government Land Sales (GLS) Programme this month are expected to receive healthy interest from developers, with seven to nine bids due to their strategic locations, said Knight Frank Singapore. Located at Commonwealth Avenue and New Upper Changi Road/Bedok South Avenue 3 (Parcel B), the sites are just next to Queenstown and Tanah Merah MRT...
The Singapore government has set aside nearly 25 hectares of industrial land for the first half of 2013, according to the Industrial Government Land Sales Programme (GLS) released by the Ministry of Trade & Industry (MTI) on Wednesday. A new regulation by the government now requires developers to build a minimum number of large factory units. This applies to four large land plots with a site area of...