Serangoon North housing site gets buillish top bid of S$446.3 million

SINGAPORE — A housing site in Serangoon North Avenue 1 has drawn strong interest from developers, with units of Keppel Corp and Wing Tai submitting the joint top bid of S$446.3 million, Urban Redevelopment Authority data showed after the close of tender on Thursday (July 27).

The 99-year leasehold site, launched from the Confirmed List of the Government Land Sales (GLS) programme for the first half of 2017, sits on 185,022 sq ft. It has a maximum allowable gross floor area of 462,557 sq ft that can yield an estimated 505 homes. The top bid from Keppel unit Corson and Wing Tai unit Wingjoy Investment, which beat 15 others, translates to S$964.81 per sq ft per plot ratio. Continue reading

URA launches sale of old Beach Road Police Station site with minimum bid price of $1.138b

SINGAPORE – The Urban Redevelopment Authority (URA) has launched the public tender of a commercial site at Beach Road, whose winning bidder must conserve and restore the former Beach Road Police Station on the land.

Sale of the site was triggered after URA last month received an application from a developer who committed to bid at a price of not less than $1.138 billion. Any tender below that minimum bid price will not be considered, URA said in its announcement on Thursday (July 6).

The two-hectare site was available for sale on the reserve list of the first-half of 2017 Government Land Sales (GLS) Programme. It was first put on the GLS reserve list  in November 2014. Continue reading

Ex-Zouk site, 4th Ave plum land plots for sale

Fancy living right where party types used to dance the night away at the iconic Zouk nightclub?

The original site of what is arguably Singapore’s best-known nightspot has been made available for developers to build up to 525 new homes on.

But the developers must conserve the three warehouses occupied by Zouk until December last year, when it moved to Clarke Quay. Continue reading

Uptick in land supply may be insufficient to meet developers’ demand for sites: Analysts

SINGAPORE – The Government has ramped up supply of development sites in the wake of bullish bids for plots and a declining stock of unsold private homes.

But analysts say the slight increase in land supply for the next six months may not be enough to meet developer demand.

There are 16 sites on the Government Land Sales programme for the second half of the year. They could accommodate up to 8,125 private homes, up from the 7,465 units offered in this half, the Ministry of National Development (MND) said on Thursday (June 29). Continue reading

Government increases supply of land for private housing; sites at Handy Road and Hillview Rise on confirmed list

SINGAPORE – The Government has raised the supply of land for private housing in the second half of 2017 in response to stronger demand from home buyers and declining unsold stock in the pipeline.

The six sites on the confirmed list of  Government Land Sales (GLS) Programme for the second half of 2017 include four private residential sites, one of which is an executive condominium site in Sumang Walk, the Ministry of National Development said on Thursday (June 29). The other two sites on the confirmed list are commercial and residential sites.

In all, the confirmed list yields 2,840 private housing units, 510 units or about 20 per cent more than the supply of 2,330 units in the first half-year. Continue reading

MND increases land supply for private homes in H2 2017

THE government will release land for up to 8,125 private residential units (including executive condo units) and 83,590 square metres gross floor area (GFA) of commercial space on both confirmed and reserve lists in the second half of this year.

This is higher than the 7,465 private housing units but lower than the 158,080 sq m GFA of commercial space for the current first-half Government Land Sales (GLS) Programme.

The Ministry of National Development (MND) said on Thursday morning that through the confirmed list it will release land for 2,840 private residential units and 26,800 sq m GFA of commercial space in the second half. Confirmed list sites are launched according to schedule regardless of demand.

On the reserve list, MND will offer land for 5,285 private residential units and 56,790 sq m GFA of commercial space, mostly for office use. Reserve-list sites are launched only upon successful application by a developer or when there is sufficient market interest in a site. Continue reading

URA to launch tender for Beach Road site

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.