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

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

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

Aggressive land bids drive premiums up at government sites

Developers have been paying substantial premiums for government land sites recently amid healthy private home sales.

There has been aggressive bidding at public land tenders this year, with developers paying an average of 29 per cent more for residential plots over comparable sites sold in the past five years.

That was sharply higher than 13 per cent average premium in the second half of last year, a Cushman & Wakefield report noted yesterday. Continue reading

Singapore property comeback fueled by developers hungry for land

SINGAPORE (BLOOMBERG) – Developers’ hunger for land is adding to signs that Singapore’s housing market is making a comeback after three years of price declines.

As new home sales surge after an easing of property restrictions in mid-March, developers are becoming more aggressive in bidding at land auctions. On average, they have paid a 29 per cent premium, the highest level in at least five years, according to broker Cushman & Wakefield, which makes comparisons with the past prices of similar properties.

“Sentiment has changed,” said Mr Christopher Tang, chief executive officer of Singapore at developer Frasers Centrepoint. “The general sense is that the market has bottomed out and like many of the developers in Singapore we are a bit landbank-starved – we are keen to build our land bank.” Continue reading

Prime sites lined up for residential development

More homes could eventually be built in sought-after areas such as Tanglin Road and Paterson Road in the city, with some rare sites earmarked for future residential use.

The most eye-catching are the former Ministry of Home Affairs Phoenix Park site in Tanglin Road, and the former Overseas Family School plot in Paterson Road, near Orchard Road.

These sites have been returned to the Government, or have been put to temporary alternative use. Continue reading