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...
Land Sales
Three new residential sites for private housing have been released under the Government Land Sales (GLS) Programme. The sites are at Mount Vernon Road, Jalan Lempeng and the Kovan Road/Simon Road area. The Urban Redevelopment Authority and the Housing & Development Board said the sites are for sale on Tuesday, by public tender. Together, they are expected to yield about 1,830 units, adding to the...
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 Urban Redevelopment Authority (URA) has closed the tender for a residential site at Chestnut Avenue. The 1.87-hectare land parcel, which can yield some 380 housing units attracted a total of 12 bids. SP Setia International submitted the top bid of S$180 million. The other bids for the 99-year leasehold site ranged between just over S$166 million and S$131 million. Property consultancy CBRE said the...
The Government's intent to keep the commercial office market in Singapore competitive does not mean that it will sell State land below its fair market value, the Ministry of National Development (MND) said yesterday in response to a question asking why it rejected the joint bid from UOL Group and Singapore Land for a site in Paya Lebar. Earlier this month, subsidiaries of the two developers submitted the...
The Housing & Development Board (HDB) has launched the tender of a commercial site at Sengkang West Avenue/Fernvale Road. The land parcel has a site area of 8,790.3 sq m and has a maximum allowable gross floor area of 26,370.9 sq m. The 99-year lease site is linked to the Sengkang MRT/LRT Station and Sengkang Bus Interchange and is near the Fernvale LRT Station. HDB said the site is accessible by...
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 --...
The Urban Redevelopment Authority (URA) on Wednesday released the detailed sales conditions for the land parcel at Rangoon Road/Farrer Park Station Road. The hotel site is part of the Reserve List of the Government Land Sales (GLS) Programme for the second half of 2011. Measuring 0.3 hectare, the site can generate a gross floor area of about 13,004 sq m. The land parcel is above the Farrer Park MRT...
The tender for a Government Land Sales (GLS) site at Yishun Avenue 1/Miltonia Close has closed with a total of eight bidders, according to the Housing & Development Board (HDB). The top bid of S$138.9 million came from a joint tender by T G Development and Master Contract Services. The top bid translates to a land price of about S$364 per square foot per plot ratio (psf ppr). S L (Serangoon)...
The authorities appear to be in a dilemma: Get the best price from land sales to fill the government coffers, or bring the cost of business down. The recent rejection of a bid by United Overseas Land (UOL) and sister company Singapore Land for a parcel of land in Paya Lebar (picture) leaves not only the lone bidder peeved but the public somewhat confused. The Urban Redevelopment Authority (URA) rejected...