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

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

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

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

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

Lorong 1 Realty Park landed housing site draws top bid of S$75.8 million

SINGAPORE – A private landed housing site in Lorong 1 Realty Park in Hougang has drawn bullish bids from 11 developers.

The top bid for the 99-year leasehold site came from a consortium of Fantasia Investment (Singapore), Sun Renwang and Yang Xinping at S$75.8 million or about S$525.58 psf per plot ratio, said the Urban Redevelopment Authority at the close of tender on Thursday.

It was S$13.8 million or about 22 per centmore than the second-highest bid of S$62 million tabled jointly by Singhaiyi Investments and Haiyi Wealth. Continue reading

MCL Land awarded Eunosville site at S$765.78m or S$909 psf ppr

HONGKONG Land unit, MCL Land, has clinched the Eunosville site through a collective sale, at a price of S$765.78 million.

This works out a unit land price of S$909 per square foot per plot ratio (psf ppr) inclusive of an estimated S$194 million payable to the state to enhance the intensity of the site to a gross plot ratio of 2.8 and to top up the site’s lease to 99 years.

The site has a balance lease term of about 70 years. Continue reading

3 sites put on market could yield nearly 2,000 homes

Three sites were put on the market yesterday that could yield 1,955 homes in total.

Analysts expect one of the sites, in Woodleigh Lane, will draw the strongest interest from developers.

It is next to Woodleigh MRT station, adjacent to the Bidadari New Town and near amenities such as Nex shopping mall. Schools in the area include St Andrew’s Secondary, Cedar Girls’ Secondary and Maris Stella High. The 19,547 sq m site has a maximum gross floor area of 58,641 sq m. Continue reading