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Land site up for sale

Posted on 8 Aug 2009 | Comments Off

Land site up for sale <!–10 min–>


		A government land parcel has been triggered for sale, after a developer commited to bid at least $40.5 million for a commercial and residential site at the junction of Yio Chu Kang and Seletar road. –PHOTO: URA

A GOVERNMENT land parcel has been triggered for sale, after a developer commited to bid at least $40.5 million for a commercial and residential site at the junction of Yio Chu Kang and Seletar road.

It has a site area of 2.1 ha. With a gross plot ratio of 1.4, it can generate a maximum permissible gross floor area of about 29,400 sq m.

The site was made available for sale via the reserve list system since last November. Under this sale method, a site will be put up for tender only if developers indicate interest by committing to a minimum bid.

The Urban Redevelopment Authority said it will launch the tender for sale in about two weeks. The date will be announced later.

Source : Straits Times – 8 August 2009

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Posted in Property Market / Real Estate

Tagged Land Sales, URA

3rd site triggered for sale in 3 weeks

Posted on 8 Aug 2009 | Comments Off

YET another government land parcel has been triggered for sale after a developer committed to bid at least $40.5 million for the site at the corner of Yio Chu Kang and Seletar roads.

The site is the third government plot triggered for sale in as many weeks after developers tendered bids on land in Dakota Crescent and Chestnut Avenue.

‘Developers are looking at the market two years down the road,’ said Jones Lang LaSalle’s head of South-east Asia research Chua Yang Liang.

‘We are still in a contraction mode but the global credit crunch has eased somewhat in Singapore and there is more certainty that we’ve seen the worst.’

The recent run-up in demand also points to a more positive mood, he Continue reading →