The Housing and Development Board (HDB) received just two bids for a residential site at Yishun Ave 2 and Yishun Ave 7. The higher offer of S$229.4 million came from a joint bid by two companies - Nam Hee Contractor and FCL Topaz. That translates to about S$311 per square foot per plot ratio. The second bid came from a firm, Perfect Eagle, which offered S$196 million. The land parcel has a site area of...
Land Sales
The Housing and Development Board (HDB) has awarded a residential site at Punggol Field/Punggol Road to the highest joint-bidders. They are ChoiceHomes Investments and CEL Development which made the top offer price of S$223.7 million. HDB received a total of five bids for the site measuring 22,497 square metres. The site has a maximum gross floor area of 67,492 square metres. Under the government's...
Construction firm Chip Eng Seng said Wednesday that its wholly-owned subsidiary, CEL Development will set up a special purpose vehicle (SPV) to facilitate the development of an executive condominium (EC) in Punggol. This is in view of the fact that CEL and its partner, Choicehomes Investments, have emerged as the top bidder in a tender for the site. Both sides put in a joint bid of $223.74 million for...
The Urban Redevelopment Authority, URA will launch a tender for a hotel site at the junction of Clemenceau Avenue and Havelock Road in two weeks time. It has accepted an application from a developer for the hotel site, which is on the Reserve List, for public tender. The developer has committed to bid at least $40.8 million for the land parcel. The URA said the 99-year leasehold site can generate a...
The Urban Redevelopment Authority has awarded the tender for the residential site at Upper Serangoon Road and Pheng Geck Avenue to Qingdao Construction. The company submitted the highest bid of S$113.7 million, or about S$588 per square foot of gross floor area. The tender was launched in April this year and closed two weeks ago. A total of 15 bids was received for the site. Other developers who...
The Housing and Development Board's (HDB) tender for a residential site at Punggol Field and Punggol Road has attracted the highest bid of S$223.7 million. This came from a joint bid by two companies - ChoiceHomes Investments and CEL Development. That translates to about S$298 per square foot per plot ratio for the reserve list site meant for executive condominium development. The next highest bid came...
The Urban Redevelopment Authority has launched an industrial site at Ubi Road 1 for sale by public tender. The land parcel has a 60-year lease period and a site area of about 3.5 hectares. The site has a maximum permissible gross plot ratio of 2.5 and can be developed for various uses such as clean and light industries. These industries include those related to computer software development, publishing,...
A hotel site in Clemenceau Avenue and Havelock Road will be put up for sale in two weeks. The Urban Redevelopment Authority (URA) said the 99-year leasehold site can generate a maximum gross floor area of 11,555 square metres. The Reserve List site spans 0.55 hectares and a developer will be able to build a hotel development of not more than seven storeys on the plot. URA said a developer has committed...
Developers MCC Land has put in the top bid of S$131.7 million for a land parcel at the corner of Sembawang Road and Canberra Drive. The bid works out to S$387 per square foot per plot ratio. The second highest bid from SP Setia International came in at S$122.6 million. Nam Hee Contractor and OPH Marymount submitted the third highest bid of S$111 million. The lowest bid of S$85 million came from Frasers...
Property developers are still bidding aggressively for land despite the Government's announcement of more land sales in the second half of this year. As the tender closed for the residential site at Upper Serangoon yesterday, a top bid of $113.7 million had been submitted by China based developer Qingdao Construction. That translates to $607 per square foot (psf) - the second highest recorded for a...