Far East-led group clinches Holland Rd site

A consortium led by Far East Organization has been awarded a plum commercial and residential site in Holland Road, with a winning bid of $1.213 billion or nearly $1,888 per square foot per plot ratio (psf ppr).

The Urban Redevelopment Authority (URA), which awarded the 99-year leasehold site yesterday, said the winning bid was the highest of the five shortlisted tenderers for the dual-envelope (concept and price) tender.

Far East’s fellow consortium members are Sekisui House and Sino Group. Continue reading


Cuscaden Road site sees record psf price offered for a GLS residential plot

SINGAPORE – A residential Government Land Sales site at Cuscaden Road fetched a record per square foot bid of close to S$2,400, with developers keen to grab a prime plot in the vicinity of Orchard Road on the back of an uptick in the property sector.

A mixed-use site at Silat Avenue also saw a bid of just over S$1 billion, the Urban Redevelopment Authority (URA) said in a statement on Thursday (April 26) evening, while a Mattar Road residential plot attracted 10 bids, with the highest in excess of S$1,100 psf. Continue reading

2-envelope government land tender for Holland Village site draws 15 bids

SINGAPORE – A government tender for a plum 99-year leasehold commercial and residential site in Holland Road closed on Tuesday (March 20), attracting a total of 15 bids.

Some developers have placed multiple bids with different concept proposals for the site.

Under the dual-envelope concept and price tender mode for the site’s sale, the Urban Redevelopment Authority, which conducted the tender, has released only the names of the bidders but not their bid prices. Continue reading

URA launches 2 residential sites for sale under GLS

Two residential sites – in Mattar Road and Silat Avenue – have been put on the market under the confirmed list in the Government Land Sales programme.

The Mattar Road plot, which is on a 99-year lease, is 6,230.2 sq m with a maximum gross floor area (GFA) of 18,691 sq m. It can yield an estimated 250 units.

Around 1,125 units can be built on the Silat Avenue site, which is also on a 99-year lease. It occupies 22,851.6 sq m with a GFA of 84,551 sq m. The site can have residential and commercial components on the first storey. Continue reading

Cuscaden Rd site up for tender under Govt Land Sales scheme

A prime residential site near Orchard Road that could yield up to 170 apartments was launched for sale yesterday.

The 61,596 sq ft, 99-year leasehold site has a gross floor area of 172,470 sq ft with a maximum building height of 100m.

The site, which is on the confirmed list in the Government Land Sales programme, faces Regent Singapore in Cuscaden Road and is a stone’s throw from Tanglin Mall and Camden Medical Centre. Continue reading

All 17 bids for Punggol site surpass EC record

The severe supply shortage of land for executive condominiums (ECs) likely prompted the 17 aggressive bids for a Punggol site.

All 17 offers surpassed the previous record price for EC land set in July 2013 for the Lake Life site in Tao Ching Road near Jurong Lake.

The top bid of $509.37 million for the Sumang Walk plot works out to a record $583 per sq ft per plot ratio (psf ppr). It came from a joint venture between a City Developments (CDL) unit and TID Residential. Continue reading

Katong Park Towers put up for sale en bloc with S$288m reserve price

SINGAPORE – Katong Park Towers has been put up for collective sale with a reserve price of S$288 million or about S$1,165 per square foot per plot ratio, according to Cushman & Wakefield, the appointed agent for the property.

The minimal development charge for the site is about S$5.6 million for the additional 10 per cent bonus balcony and an estimated lease upgrading premium of some S$51 million, Christina Sim, director of capital markets at Cushman & Wakefield, said on Wednesday (Jan 31).

The residential development sits on a 99-year leasehold residential site with a land area of 13,076.9 sq m (about 140,758 sq ft). It is located at 114A Arthur Road, about 200m from the future Katong Park MRT Station, which is expected to be completed in 2023. Continue reading