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

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

Tampines Avenue 10 (Parcel C) By CDL

GOOD CONNECTIVITY

The site is conveniently linked to the city and rest of the island via major arterial roads and expressways such as Tampines Expressway and Pan Island Expressway.

RECREATION

Residents can engage in outdoor recreation activities or enjoy a leisurely walk at Bedok Reservoir Park.

SCHOOLS

The future residential development is an ideal home for families with school-going children. Numerous schools located within the vicinity include Temasek Polytechnic, United World College of South East Asia (East Campus) and St. Hilda’s Primary and Secondary Schools. Continue reading

URA launches sale of Stirling Road site, landed housing parcel in Hougang

SINGAPORE – Two private residential sites at Stirling Road and Lorong 1 Realty Park were launched for sale by the Urban Redevelopment Authority (URA) on Thursday (April 20).

The 99-year leasehold sites together can potentially yield about 1,160 residential units.

The land parcel at Stirling Road in Queenstown was triggered for sale after a developer committed to bid at no less than S$685.25 million. That bid translates to S$718 per square foot per plot ratio based on the site’s maximum gross floor area of 88,660 square metres. Continue reading