URA to launch tender for Beach Road site

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SINGAPORE — The Urban Redevelopment Authority (URA) will launch a public tender for a commercial site on the Reserve List at Beach Road, after receiving an application from an unnamed developer at a bid price of not less than S$1.138 billion.

The land parcel was first made available for sale in November 2014. The mixed office/retail site, with a maximum permissible gross floor area of 88,313 sqm, will be open for bidding early next month, said the URA.

Separately, the Housing and Development Board on Wednesday awarded the tender for a mixed commercial and residential site in Bidadari estate to a consortium of Singapore Press Holdings and Kajima Development for the top bid of S$1.132 billion. Last month, units of China’s Nanshan Group and Logan Property submitted the winning bid above S$1 billion for a land parcel in Stirling Road, the first time a purely residential site on the Government Land Sales programme has exceeded that price quantum.

Hundred Palms Residences: All you need to know about Hougang’s new EC

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Whether or not you are a resident of Hougang, you might have heard the buzz around the estate’s upcoming executive condominium (EC), Hundred Palms Residences.

Slated to be completed by 2020, Hundred Palms Residences stands out from the other ECs in Singapore by virtue of its excellent location.

For one thing, it is perhaps the most centrally-located EC in Singapore. Other ECs are typically located far from the Central Business District (CBD), in neighbourhoods like Choa Chu Kang, Sembawang and Woodlands. Continue reading →

Bidadari site to have 600 private homes

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More than 600 private residential units will be built on the first mixed commercial and residential land site in new township Bidadari.

The first private land parcel was awarded yesterday to entities linked to Singapore Press Holdings (SPH) and Kajima Development after they placed the top bid of $1.13 billion in a tender for the 99-year leasehold site next to Woodleigh MRT station.

The 2.54ha plot was hotly contested, drawing 12 bids for what is slated to be a landmark project in Bidadari, which has been oversubscribed in Build-to-Order launches. Continue reading →

SPH submits S$1.132 billion top bid for Bidadari mixed commercial and residential site

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SINGAPORE — A mixed commercial and residential site in Bidadari estate drew strong interest from developers by the close of tender on Tuesday (June 13), with the top bid coming from media and property company Singapore Press Holdings (SPH) amounting to S$1.132 billion, data from the Housing and Development Board showed. Continue reading →

Bangkok is now a desirable living, investment choice

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There’s no denying that Bangkok has spectacular food and endless shopping opportunities. Its vibrant street life, lavish luxury hotels and the golden spires adorning its temples have made the city a popular tourist destination for decades.

But in recent years, Bangkok has become more than just a charming destination.

The megapolis has been experiencing a growth spurt, which has been helped by the Thai government’s all-out push to upgrade the country through 2.2-trillion-baht (S$89 billion) of investments — with a focus on transportation infrastructure — to improve the nation’s competitiveness on the global stage. Continue reading →

Malaysian developer buys 1 Draycott Park near Orchard Road for $72m

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SINGAPORE – A subsidiary of Malaysian property developer Selangor Dredging has purchased a parcel of prime freehold land in the Orchard area.

Champsworth Development, which is 50 per cent owned by Selangor Dredging, paid S$72 million for 1 Draycott Park. This translates to a price of approximately S$1,787 per sq ft per plot ratio, inclusive of development charges for the 17,442 sq ft site. In a filing with Bursa Malaysia, the developer said it was considering the potential to build exclusive mid-rise apartments.

There is currently a seven-storey block on the site, which was built in the 1990s. It comprises eight apartments ranging between 860 sq ft and 6,200 sq ft. The site is zoned for residential use with a plot ratio of 2.8, which means that it can be re-developed to a height limit of 36 storeys. Continue reading →

2 more HUDC estates aim to sell en bloc

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Two privatised HUDC estates are gunning for collective sales in the wake of lucrative sales of two other properties of this type – Rio Casa and Eunosville – in recent weeks.

The 560-unit Tampines Court will likely launch its tender in July, while 336-unit Florence Regency in Hougang is in the early stages of the sales process.

The Straits Times understands that Tampines Court owners are seeking at least $960 million for the large Tampines Street 11 site, spanning over 702,000 sq ft. Continue reading →