Category Archives: Developers

Keppel Land unit wins bid for Kim Tian site

Posted on 24 Apr 2013 | Comments Off on Keppel Land unit wins bid for Kim Tian site

Keppel Land unit Harvestland Development has won the tender for a private residential site in Kim Tian Road with a top bid of S$550.3 million, Urban Redevelopment Authority data showed on Tuesday.

Harvestland’s bid translates to S$1,162.86 per sq ft per plot ratio, the highest ever for a pure residential site, beating the previous record of S$1,107 psf ppr for a site at Farrer Road, said Mr Lee Sze Teck, Senior Manager for Training, Research and Consultancy at DWG, before the tender was awarded.

The tender had attracted 11 bids at the close on April 18.

The centrally-located 99-year leasehold site was released under the Confirmed List of the Government Land Sales programme for the first half of this year. Near Tiong Bahru MRT Station, it sits on about 118,302 sq ft of land and has a maximum permissible gross floor area of about 473,213 sq ft.

Keppel Land said it would develop about 500 homes ranging from 500 sq ft to 1,350 sq ft in one- to four-bedroom configurations when awarded the site.

Source : Today – 24 Apr 2013

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Posted in Developers, Land Sales

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Buyers snap up 44 units at Novena Regency

Posted on 23 Apr 2013 | Comments Off on Buyers snap up 44 units at Novena Regency

Novena Regency, a new mixed-use development along Thomson Road has sold 44 residential and retail units within a week of its launch on 13 April, reported The Straits Times. Developed by Fragrance Realty, 72 units were released initially.

The city fringe location and freehold tenure are considered key selling points of the property, which will be sited on the current Novena Ville plot.

“We are fairly confident that buyers will be attracted to its location – an exclusive private estate enclave within the Novena vicinity,” said Koh Wee Meng, Executive Chairman and Chief Executive of Fragrance Group.

The development comprises 55 residential units priced from S$2,300 psf and 45 shop units that start from S$7,000 psf. The residential units include 43 apartments (one- to three-bedroom units) and 12 penthouses (two- to four-bedroom units).

The strong interest follows record-breaking new home sales last month which saw 2,793 units sold, attributed to discounts and promotions offered by developers.

Mary Sai, a marketing agent for Novena Regency, said buyers prefer self-contained neighbourhoods with easy access to shopping and township facilities, public transport and other amenities.

Sai, who is also Executive Director for Knight Frank, noted that business owners will be attracted to Novena Regency for its high visibility since the property faces the main road.

Moreover, human traffic within the area is considered “heavy” due to its proximity to the Inland Revenue Authority of Singapore building and Novena Church.

The project is expected to TOP in August 2017.

Source : PropertyGuru – 23 Apr 2013

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Posted in Developers, New Launches, Property Market / Real Estate

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