Tag Archives: Punggol Central

Government to release four residential sites

Government to release four residential sites estimated to yield 1,800 housing units in April 2013.

To provide developers and home-buyers with more choices in private housing, the Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) will be releasing four residential sites for sale in April 2013 under the Government Land Sales Programme for 1st half 2013. These four sites can collectively yield about 1,800 residential units.

One Executive Condominium site at Anchorvale Crescent and two residential sites at Fernvale Close and Faber Walk are launched for sale today under the Confirmed List. The fourth site, an Executive Condominium site at Punggol Central, will be launched on 29 April 2013 under the Confirmed List.

The tender for the Punggol Central site will close on the same day as two other Executive Condominium sites at Punggol Drive and Yuan Ching Road – 30 July 2013. The latter two sites will be launched for sale in June 2013. The move to close the tenders on the same day is being initiated in response to feedback from the public and real estate industry that this could help moderate tender bids and, in turn, future property prices. The sites were chosen on the basis that all three are meant for Executive Condominium developments and slated for launch during the second quarter of this year.

Land Parcel at Anchorvale Crescent
The site is located in close proximity to Farmway LRT station and Tampines Expressway (TPE). It is also near Sungei Punggol, Sengkang Riverside Park, Sengkang Floating Wetland and Sengkang Sports & Recreation Centre.

Land Parcel at Faber Walk
Situated within an established residential estate, the 1.5 ha land parcel has direct access to the Ulu Pandan Park Connector, and is also near the commercial amenities at Jurong such as IMM, JCube, and the upcoming JEM and Westgate.

Land Parcel at Fernvale Close
The site is located in close proximity to Layar LRT station and has frontage to Sungei Punggol and the nearby facilities and amenities like Sengkang Riverside Park, Sengkang Floating Wetland and Sengkang Sports & Recreation Centre. The upcoming Seletar Mall is also located within walking distance.

Land Parcel at Punggol Central/Edgedale Plains
The site is located in close proximity to Oasis LRT station and Tampines Expressway (TPE). Amenities and facilities in Punggol town include the award-winning My Waterway @ Punggol, the Punggol Promenade and commercial malls such as Punggol Plaza and the upcoming Waterway Point.

Property developers to be more selective in bids for govt land, say analysts

Property developers may be less aggressive in their bids for government land in the second half of this year. This is according to analysts, who have said that most developers will be more selective in their choices as well.

Developers may only have eyes for sites which are the most profitable in the government land sales programme, such as those at Alexandra Road and Bishan Street 14, which analysts said are the most attractive.

One of the sites on the government land sales (GLS) programme for the second half of this year is the land parcel at Alexandra Road. With a gross plot ratio of 4.9 yielding 524,300 square feet of gross floor area, the land’s minimum price is estimated at S$420 million to S$445.7 million or S$800 to S$850 per square foot, and is slated for sale in October.

It is on the confirmed list of the GLS programme for the second half of this year and it can yield an estimated 545 residential units.

Located within a short walk from Redhill MRT station, analysts said it is likely to be one of the most hotly contested sites in the GLS programme.

Nicholas Mak, Executive Director of Research and Consultancy at SLP International, said: “Because of the high price that this sites could attract, it may only appeal to some of the bigger developers, and even the mid-sized ones will join forces as a consortium to go in. Some of the newer condominiums around the Redhill MRT station could be transacting at prices of S$1,300 to S$1,400 per square foot, especially for the smaller ones.”

Ascentia Sky, the property adjacent to the land parcel, is selling at S$1,422 per square foot and 299 out of the 373 units have been sold.

While there are risks of oversupply going forward, analysts said the GLS programme can be adjusted according to future demand.

But for now, demand is robust, especially for residential sites near MRT stations. For example, the Bishan Street 14 site, which will be up for sale by September if its minimum price is met by bidders.

Analysts said it will be no surprise if CapitaLand bids for the site.

Dr Chua Yang Liang, Head of Research (Southeast Asia) with Jones Lang LaSalle, said: “We have good location, good amenities in there, good shopping areas, good schools in the neighbourhood and there will be a lot of interest by the end consumer.

“So developers would be watching closely…we won’t dismiss the possibilty of CapitaLand again. Looking very closely, I believe since they have won the adjacent area, they may be looking at this as well to create a more continuous development.”

CapitaLand won the adjacent Bishan Street 14 site in February with a top price of S$550.1 million, beating the next highest bidder, Keppel Land, by 27 per cent.

Analysts said GLS sites at Punggol Central and Bartley Road are also attractive as they are located within walking distance to MRT stations. With these choice locations, properties in such areas will be a hit with families and HDB upgraders.

Source : CNA – 10 Jun 2011