Category Archives: Land Sales

Tender for Tampines site pushed back

Posted on 3 Jul 2013 | Comments Off on Tender for Tampines site pushed back

The closing date for a residential site tender at Tampines Avenue 10 (Parcel B) has been pushed back to 16 July from 2 July, according to the Urban Development Authority (URA). This is in light of the new housing loan measures announced by the Monetary Authority of Singapore (MAS) last Friday.

URA hopes the extension will give prospective bidders more time to assess the latest rules before submitting their bids.

The curbs on MAS-regulated financial institutions are expected to help “enhance credit underwriting practices for property loans granted to individuals and encourage financial prudence among borrowers”.

Offered on a 99-year lease, the site has a land area of 184,094 sq ft and a maximum gross floor area (GFA) of 515,473 sq ft, and is expected to yield 530 housing units.

Source : PropertyGuru – 1 Jul 2013

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URA releases hotel site at Havelock Road

Posted on 28 Jun 2013 | Comments Off on URA releases hotel site at Havelock Road

The government has released a hotel site at Havelock Road for application from interested developers.

In a statement, the Urban Redevelopment Authority (URA) said it has released the detailed sales conditions for the land parcel, which consists of three conserved warehouse buildings fronting the Singapore River.

The plot is on the Reserve List for the first half 2013 Government Land Sales (GLS) Programme.

URA expects the conserved buildings to be developed into a boutique hotel.

Unlike the usual hotel land parcels, the plot has a land tenure of 60 years, compared to the usual 99 years.

With a land area of about 1,536.2 square metres, the hotel site can generate a maximum permissible gross floor area of 2,145 sqm, said URA.

Nicholas Mak, executive director of SLP International Property, said the site could attract top bids ranging from S$18.5 million to S$20 million if it is launched for sale on Thursday.

As the total investment amount is not excessive, he expects several small hotel developers and operators to put in their bids.

But he warned that the warehouse buildings would not offer much economies of scale, given that only about 35 hotel rooms in total could be developed.

Source – URA – 28 Jun 2013

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