Tag Archives: Choa Chu Kang

Bid 2 years ago: $61 million Top bid now: $164 million

Posted on 24 Feb 2010 | Comments Off on Bid 2 years ago: $61 million Top bid now: $164 million

IN A striking sign of how the property sector has rebounded, a site that failed to sell two years ago when it attracted an offer of just $61 million has now received a bid of $164 million in a new tender.

Eight developers placed bids for the suburban plot that can accommodate residential and commercial development.

The top offers for the site at the junction of Choa Chu Kang and Woodlands roads were all in a fairly tight range, with Far East Organization’s Dollar Land Singapore on top with a bid that beat market expectations.

It offered nearly $164 million, or $436.65 per sq ft (psf) of gross floor area, about 10 per cent more than the $148.28 million or $394.80 psf offered by second-placed Chip Eng Seng’s CEL Development.

Sim Lian Land was next with $138.89 million or $369.79 psf.

Other bidders included a joint venture between Frasers Centrepoint and NTUC FairPrice Cooperative, and Soilbuild Group Holdings, which came in last with a bid of just $71.23 million.

CBRE Research had expected bids to range from $135 million to $150 million. Continue reading →

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8 residential sites on confirmed list of GLS Programme for H1 2010

Posted on 6 Nov 2009 | Comments Off on 8 residential sites on confirmed list of GLS Programme for H1 2010

The government will place eight residential sites on the confirmed list of the Government Land Sales (GLS) Programme for the first half of next year. These include four new sites and four that are carried over from the GLS Programme for the second half of this year.

The National Development Ministry (MND) said on Friday that these new sites can potentially yield about 2,925 residential units.

In addition, the reserve list for the first half of next year will have 16 residential sites and two mixed use sites. Of the 18 sites, six are new and 12 will be carried over from the GLS Programme for the second half of this year.

MND said in total, these 18 sites can yield about 7,625 private residential units. It added that there will be a total of five executive condominium sites under the GLS Programme for the first half of next year – two under the confirmed list and three under the reserve list.

All the sites in the GLS Programme for the first half of next year are located in the suburban or city fringe areas where more affordable private housing are expected to be built. Continue reading →

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