Tag Archives: Tampines

Sim Lian puts in top bid of S$302m for leasehold site at Tampines

Posted on 16 Mar 2010 | Comments Off on Sim Lian puts in top bid of S$302m for leasehold site at Tampines

Developer Sim Lian Land placed the top bid of S$302 million for the residential site at Tampines Avenue 1 & Avenue 10.

The tender for the 3.2 hectare site with a lease of 99 years attracted a total of eight bids.

The second highest bid of nearly S$288.99 million came from a joint venture of Far East Organisation and Frasers Centrepoint.

That’s followed by MCL Land’s bid of about S$278.3 million.

According to the Urban Redevelopment Authority, the remaining bids range between S$168 million and S$252 million.

Real Estate consultancy CB Richard Ellis said the tender for the condominium site further demonstrates developers’ interest in the mass market segment.

It added that the top bid of S$302 million translates to S$421 per square foot per plot ratio.

Based on that, CBRE said the new project will break-even at around S$700 psf.

It expects the homes to be priced around S$700 to S$850 psf or higher, comparable to projects in the Bedok Reservoir area.

The tender will be awarded after the bids have been evaluated.

Source : Channel NewsAsia – 16 Mar 2010

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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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Posted in Property Market / Real Estate

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