Daily Archives: 19 Sep 2009

Roads to be closed for F1 race preparations

Posted on 19 Sep 2009 | Comments Off on Roads to be closed for F1 race preparations

A SERIES of road closures affecting the Marina Centre area will take place from midnight on Sept 23 to Sept 29 to facilitate the setting up and dismantling of race infrastructure for the 2009 Formula One Singapore Grand Prix.

‘Visitors to the Marina Centre area are strongly encouraged to use public transport. Traffic delays are expected during this period,’ the Land Transport Authority (LTA) said in an announcement yesterday.

Nicoll Highway, Esplanade Drive, Republic Boulevard and Raffles Avenue will be open to all commuters (one-way through traffic) during morning peak hours (5am-9am) from Sept 23 to 25.

In addition to the road closures, two lanes of Esplanade Drive in both directions will be closed from 9.30am onwards on Sept 22 to facilitate setting up the Connaught Grandstand. Traffic at this junction is expected to be slow moving when the lane closures are ongoing.

Meanwhile, the following ERP gantries within the race circuit will not be in operation as the ERP gantries may interfere with sensitive video transmission equipment used for the race. On Sept 24 and 25 between 6pm and 8pm, the gantries at New Bridge Road, South Bridge Road and on the ECP (eastbound) from Ophir Road will not operate. Continue reading →

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Bids show developers still hungry for land

Posted on 19 Sep 2009 | Comments Off on Bids show developers still hungry for land

But future offers may be more restrained as more land is released

THE results of a government land tender for a suburban location show how hungry developers are for building sites, say analysts.

A dozen developers have lodged bids for a 2.1ha plot at the corner of Yio Chu Kang and Seletar roads – a site that is not near an MRT station. A land tender ordinarily draws six to eight bidders.

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Analysts say demand for land is expected to stay strong, but they expect most developers to be more cautious in their bids in the months ahead, given that more land will be made available for sale soon.

The Government said on Monday that it will reinstate the confirmed list of sale sites for the first half of next year, among other measures aimed at tempering exuberance in the market.

Under the confirmed list, sites are pushed out for sale according to schedule, regardless of developers’ interest.

The latest site was the third put up for tender by the Government this year to attract very strong interest. The first and second land tenders each drew 13 bids. Continue reading →

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Posted in Developers, Property Market / Real Estate

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