SINCE it first unveiled ambitious plans in April to transform sleepy Jurong over the next decade, the :Urban Redevelopment Authority (URA) has rolled out the area's first land parcel: A site for mixed development in the Jurong Lake District. The 1.9-hectare site, located beside the Jurong East train station, has a 99-year leasehold and a maximum gross floor area of about 1.15 million square feet (107,000...
Land Sales
A host of factors to overcome first before parcel can be used IT MAY boast a waterfront view overlooking the upcoming Sentosa integrated resort, but don’t expect much interest from developers for the latest hotel site at Bukit Chermin released by the Urban Redevelopment Authority (URA). That’s the view shared by property analysts Today spoke to yesterday. “Investor sentiment is very weak now, so...
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...
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...
Prompt move aimed at helping sentiment in sagging market THE Government has put the brakes on its land sales programme, as the outlook for the local economy and the property market takes a turn for the worse. The Ministry of National Development on Friday said it would move most of the land sites on its confirmed list this year to the reserve list, and suspend its confirmed list of sites for sale in the...
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...