Tag Archives: Land Sales

15 bids for Serangoon site

Posted on 7 Oct 2009 | Comments Off on 15 bids for Serangoon site

A TENDER for a well-located condominium land parcel at Serangoon Ave 3 closed on Wednesday with a whopping 15 bids.

Intrepid Investments came in first with a bid of $221.21 million or $5,692.9 per sq m of gross floor area, said the Urban Redevelopment Authority.

Other bidders include Keppel Land and Sim Lian Land.

The site is next to Lorong Chuan MRT station and the Australian International School.

Source : Straits Times – 7 Oct 2009

The tender for a 99-year leasehold residential site at Serangoon Avenue 3 drew 15 bids on Wednesday, the Urban Redevelopment Authority (URA) said.

Intrepid Investments, a unit of Hong Leong Holdings, submitted the highest bid of $221.2 million or $529 per sq ft of gross floor area.

The lowest bid came from Lippo Estates, at $120 million or $287 per sq ft of gross floor area.

Source : Business Times – 7 Oct 2009

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Redas hopes for wider range of govt land

Posted on 3 Oct 2009 | Comments Off on Redas hopes for wider range of govt land

Having land not near MRT stations or ‘hotspots’ will lead to lower bids and cheaper homes

DEVELOPERS hope to see the government offer more affordable private residential sites so that they, in turn, can build cheaper homes for buyers.

The Real Estate Developers’ Association of Singapore (Redas) is in ‘ongoing dialogue with the Urban Redevelopment Authority to more efficiently increase affordable land supply’, said president Simon Cheong at a Mid-Autumn Festival celebration yesterday. ‘We believe that there is more than sufficient supply of housing in the pipeline to meet future demands.’

The Government Land Sales Programme offers 99-year leasehold residential sites, and developers have been bidding fiercely for some of them.

Since July, developers have triggered the sale of five sites on the reserve list, of which two – at Dakota Crescent and Serangoon Avenue 3 – are next to MRT stations. The Dakota site attracted 13 bids, and the top bid exceeded the second-highest by more than 5 per cent. The reserve list still has several housing sites which have not been triggered for sale.

Plots near MRT stations or with other good attributes are ‘hotspots’, Mr Cheong told reporters. ‘Perhaps in the next confirmed list, we have sites more spread out across the island for the developers to bid. Land that is not in MRT areas or hotspots probably will have a lower price.’ Continue reading →

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