The National Development Minister, Mah Bow Tan, said the government decided on a more measured approach in its latest land sales programme, taking into account the country’s medium to long-term needs. Speaking on the sidelines of a community event, he said the strategy is to ensure that there’s sufficient land set aside for development in the medium term, while at the same time, not forcing supply...
Land Sales
PROPERTY watchers say they do not expect to see any sale of the hotel sites under the Reserve List during the coming quarter, because of the current cautious sentiment in the market. Under the Government Land Sales programme for the second half of the year announced on Thursday, 10 hotel sites were up for sale but only one via the Confirmed List. Hotel room rates have been rising as Singapore receives...
The government will release enough land to build about 7,960 private residential units in the second half of this year. The sites will also produce 400,000 square metres of gross floor area of commercial space and 5,750 hotel rooms. The details were released by the Ministry of National Development (MND) on Thursday when it announced the Government Land Sales (GLS) programme for the second half of...
Capitol Centre at Stamford Road may be demolished to make way for a new hotel to meet demand for hotel rooms. The location is one of eight confirmed sites that have been released for sale, under the Government's Land Sales programme. The Ministry of National Development also announced on Thursday that it will release enough land to potentially build nearly 8,000 private residential units, in the second...
The Urban Redevelopment Authority has launched a residential site at Tampines Avenue 1/Avenue 10 for sale by public tender. The land parcel is one of four new residential sites to be offered for sale as a confirmed site under the Government Land Sales Programme for the first half of this year. The 99-year leasehold site spans about 3.2 hectares. It will have a maximum permissible gross floor area of...
JTC Corporation on Wednesday launched a tender for a mega development site at Changi Business Park, and the 4.7-hectare site is likely to see bids as high as S$600 million. The winning bidder will have to build an integrated development comprising a business park, retail activities and a hotel. Changi Business Park has been a hub for businesses that need to stay close to the airport or away from the city...
Only two bids were received in the tender for a residential site at Simei Road, which is being launched under HDB's Design, Build and Sell Scheme. Property developer Sim Lian Land put in the top bid of S$52 million. The price works out to S$1,472 per square metre of gross floor area. AMK Development put in the lower bid of S$37.2 million or S$1,055 per square metre of gross floor area. The parcel spans...
Niche property developer Soilbuild Group has won the tender to build, own and operate a stack-up factory in the Tuas area. The award for the 5-hectare site at Tanjong Kling Industrial Estate was given out by JTC Corporation. This is the first time that a stack-up factory development has been awarded to a private developer. JTC said Soilbuild clinched the contract because its concept included enhanced...
The Urban Redevelopment Authority (URA) has launched an industrial site at Woodlands Industrial Park E5 for sale by public tender. The site has an area of 1.68 ha and is zoned for a Business 2 development. The tender for the site will close at noon on July 22. The URA also released the detailed sales conditions for a reserve list site at Kallang Pudding Road for industrial development. The 0.57 ha site...
The Urban Redevelopment Authority (URA) has closed the tender for a 53,200-square metre residential site at Choa Chu Kang Drive. The highest offer for the site was for S$116 million, which translates to S$203 per square foot. The offer was submitted by Tian Hock Properties. Li Hiaw Ho, executive director of CBRE Research said given the top bid of S$203 per square foot and an estimated breakeven cost of...