(Source: The Business Times, 9 June 2016) Land for private housing including executive condominiums (ECs) that will be offered by the government in the second half of the year is slightly more than in the first half. This is mainly due to a 39.1% rise in the confirmed list supply to 2,170 homes (no ECs), from 1,560 (635 ECs) in H1. In the reserve list, the government is offering land for 5,375 homes (780 ECs), 8.2% drop from 5,855 (820 ECs) in H1. In total, the government will be supplying land for 7,545 homes in the second half of 2016, up just 1.8% from 7,415 in H1 2016. (more…)
(Source: The Business Times, 25 May 2015) Qingjian Realty has submitted the highest bid of S$301.16 million (S$635 psf ppr) for a commercial & residential development site at Bukit Batok West Avenue 6, a suburban locality in Singapore. Its bid was 8.3% higher than the next highest bid by Allgreen Properties and almost 60% above the lowest bid, submitted by Sim Lian Land Pte Ltd. In total, the 1.5-hectare site drew 11 bids, which is considered a strong participation rate. Qingjian expects to build a condo of about 500 units and a one-storey mall. The condominium is likely to be launched for sale in a year at a price of around S$1,100 psf on average.
(Source: The Business Times, 5 April 2016) Tan Tock Seng descendants put up the 25,741 square foot freehold site located at 9 Cuscaden Road for sale with an expected price of S$160-170 million. Under Master Plan 2014, the rectangular-shaped site is zoned for hotel use with a plot ratio of 4.2. However, the Urban Redevelopment Authority is prepared to consider a redevelopment proposal into a 20-storey residential development. The site is expected to attract strong interest from developers and investors. (more…)
(Source: The Business Times, 24 Feb 2016) Chip Eng Seng’s unit, CEL Residential Development, bid S$419.38 million or S$761 per square foot per plot ratio, the highest bid for a residential site at New Upper Changi Road/Bedok South Avenue 3 (Land parcel B). The bid came in above most consultants’ expectations where their forecasts had been capped at S$750 per square foot per plot ratio. This shows the top bidder’s confidence of favourable market conditions when the project is launched for sale. The proposed development on the site will have 720 units with full condominium facilities and a 500 square meter childcare centre.