Anchorvale Crescent EC site sees close contest

It was third time lucky for Evia Real Estate and Gamuda after coming up short twice this year in tenders for executive condominium (EC) sites but it was a remarkably close contest.

The two firms emerged as the top bidder for the Anchorvale Crescent EC plot with an offer of $318,888,899.

That edged out the bid by Qingjian Realty’s CNQC Realty (Treasure) Investment by 0.0003 per cent or a mere $899 – what analysts say is the narrowest margin ever for a Government Land Sales (GLS) site. Continue reading

First government land sales after cooling measures see lower interest – except for EC site

Bidding activity was not the most bullish, going by the response to three land site tenders that closed on Tuesday (Sept 4), probably as a result of the recent property cooling measures.

Of the three, the executive condominium (EC) site at Canberra Link from the Housing Board generated the most interest, with nine bids.

But there were just five bids for a plot on Dairy Farm Road, and only three offers came in for a Jalan Jurong Kechil site, sharply down from the record 24 bids submitted last year for a nearby Toh Tuck Road plot that now houses Daintree Residence. Continue reading

Government launches sale of big 3.8ha mixed-use site at Pasir Ris Central; part of town remaking plan

SINGAPORE – A white or mixed-use site at Pasir Ris Central, spanning 3.8 hectares, was launched for sale by public tender on Monday (Aug 27) in a dual-envelope exercise, under the government land sales (GLS) programme’s confirmed list for the second half of 2018.

The Housing & Development Board (HDB) launched the 99-year leasehold site as part of Pasir Ris Town’s “Remaking Our Heartland” plan. The commercial and residential development slated for the site must be integrated with a bus interchange, a polyclinic and a town plaza.

The 38,003.7 square metre (409,070 square feet) land parcel next to Pasir Ris MRT station can also yield up to 600 private homes, and has a maximum permissible gross floor area of 95,010 sq m, said HDB. Continue reading

CapitaLand-CDL tie-up lands Sengkang Central site with top bid of $777.8 million

SINGAPORE – A CapitaLand and City Developments Ltd (CDL) tie-up has clinched a commercial and residential site in Sengkang Central. Their winning bid of $777.78 million works out to $923.59 per square foot per plot ratio (psf ppr) for the 99-year leasehold site next to Buangkok MRT Station.

In a joint release on Thursday evening, CapitaLand and CDL said their joint venture will transform the 3.7-hectare site – the largest commercial and residential site awarded since 2015 – into an integrated community hub with 700 residential apartments, meeting the needs of residents in Buangkok with amenities such as a hawker centre, community club, childcare centre, retail shops, as well as public rail and bus transport facilities sited in a one-stop location.

The integrated development is targeted for completion in the first half of 2022, they added. Continue reading

Tender for executive condo site at Anchorvale Crescent launched; good response expected

SINGAPORE – The tender for an executive condominium (EC) site along Anchorvale Crescent in Sengkang has been launched from the reserve list of the Government Land Sales (GLS) Programme.

Its tender was triggered last month with a successful application by an unnamed developer committed to a bid of at least $255 million for the 99-year leasehold site. The Housing Board (HDB), acting as state land sales agent for this site, said on Friday (Aug 10) that any tender below that price will not be accepted.

The minimum price works out to nearly $461 per square foot per plot ratio (psf ppr). Continue reading

Anchorvale EC site triggered for launch

A 99-year leasehold site for executive condominium (EC) housing development at Anchorvale Crescent has been triggered for launch from the reserve list of the Government Land Sales (GLS) programme.

This follows a successful application by an unnamed developer to bid at least $255 million for the site at tender. This works out to nearly $461 per square foot per plot ratio (psf ppr).

The 1.71ha site can be developed into a maximum of 550 residential units. ECs are a public-private housing hybrid. Continue reading

Casa Sophia and Haig Road Flats up for collective sale

Casa Sophia in District 9 is up for collective sale with a reserve price of $36 million.

Owners at the freehold, 12-unit development in Mount Sophia could receive between $2.69 million and $3.4 million.

“All owners are very supportive and we are happy to have garnered 100 per cent consensus. The location is surrounded by prestigious schools and is close to the heart of Orchard Road. Projects here will definitely appeal to both investors and families,” ERA representative Tjhai Citanegara said. Continue reading

Blocked in 2009, Horizon Towers goes on collective sale again with $1.1b reserve price

SINGAPORE – Back in 2009, Horizon Towers was to be collectively sold for S$500 million but the sale was overturned. Now the prime District 9 condominium has been launched for sale at a reserve price of S$1.1 billion.

Built in the late 1970s, the 99-year leasehold development comprises 211 units in two towers located on an elevated site with double road access. The 1.9ha site is zoned “Residential” in the 2014 Master Plan, with an allowable height of up to 36 storeys.

It has an “as-built” gross plot ratio of around 3.28 and may be redeveloped into a luxury high-rise residential development. This could make it the largest high-rise residential redevelopment offering in the Orchard Road area in at least two decades, said sole marketing agent JLL in a press statement on Wednesday (July 4). Continue reading

Twenty Anson sold for $516m in biggest office property deal this year

CapitaLand Commercial Trust (CCT) is selling Twenty Anson, a 20-storey office building in Tanjong Pagar, for $516 million in the largest office real estate deal so far this year.

The buyer is believed to be a foreign private equity fund.

After weighing several bids, Twenty Anson fetched a price that is 19.2 per cent above its valuation of $433 million done on Dec 31 last year, and 20 per cent more than the $430 million CCT paid in 2012. Continue reading