HDB receives 9 bids for Pasir Ris site

HDB receives 9 bids for Pasir Ris site

Posted: 31 May 2011 2208 hrs

SINGAPORE : The Housing and Development Board (HDB) has received nine bids for the sale of a site at Pasir Ris Central/Pasir Ris Drive 1.

The 16,300 square metre site is designated for public housing under the Design, Build and Sell Scheme (DBSS).

It was launched on March 16 and the tender closed at noon on Tuesday.

The top bid of about S$123.88 million came from Singxpress Land and Kay Lim Holdings. It works out to S$3,023 per square metre.

The second highest bid was from Yuan Ching Development at S$103.69 million, followed closely by Kienta Engineering Construction at S$103.65 million.

The lowest bid of S$75.7 million was submitted by Qingdao Construction.

Under the DBSS, land for public housing development will be tendered out directly to private developers by HDB on a 103-year lease.

The successful bidder will undertake the entire development from planning, design and construction, to the sale of the flats.

HDB said it would evaluate the provisional tender results and announce the final tender results at a later date.

- CNA/al

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Luxury properties prove a tough sell »« URA releases details of Race Course Road hotel site

URA releases details of Race Course Road hotel site

URA releases details of Race Course Road hotel site

Posted: 31 May 2011 2128 hrs

SINGAPORE : The Urban Redevelopment Authority (URA) has released the detailed sales conditions for a hotel site located at Race Course Road and Perumal Road on Tuesday.

With a land area of 0.38 hectare, the hotel site can generate a maximum permissible gross floor area of about 13,500 square metres with a lease period of 99 years.

The hotel site is next to Sri Srinivasa Perumal Temple and is located near the historic district of Little India.

Located within walking distance to Farrer Park MRT station, the future hotel development will also enjoy easy access to the Central Business District (CBD) at Raffles Place and Marina Bay.

Under the Reserve List system, a site would be released for sale only if a bid with an acceptable minimum price is received.

When the site is put up for tender, a tender period of about 4 weeks will be allowed before tender closes.

- CNA /ls

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

HDB receives 9 bids for Pasir Ris site »« URA releases 2 commercial sites

URA releases 2 commercial sites

URA releases 2 commercial sites

by Jo-ann Huang and Stella Lee Jun 01, 2011

SINGAPORE – The Urban Redevelopment Authority (URA) released two commercial sites under the Reserve List of the Government Land Sales Programme yesterday.

The first – a 2.07 hectare 99-year leasehold site at the junction of Sims Avenue and Tanjong Katong Road – can yield about 87,000 sq m of gross floor area and is slated to be a mixed-use development comprising office, hotel and retail uses.

The URA said at least 40 per cent of the site will be used for office space, while 15 per cent will be used for hotel space.

The remaining area can be for additional office, hotel, retail, entertainment or food and beverage uses, to build up a critical mass of activities that will anchor Paya Lebar Central as a prominent commercial hub.

The second is a hotel site located on Race Course Road and Perumal Road.

With a land area of 0.38 hectare, the 99-year plot can generate a maximum permissible gross floor area of about 13,500 sq m. It is next to Sri Srinivasa Perumal Temple and is within walking distance of Farrer Park MRT Station.

The URA will put the sites up for tender if it receives acceptable minimum bids from developers.

Jo-Ann Huang and Stella Lee

Source : TODAYonline – MediaCorp Press Ltd’s copyright

URA releases details of Race Course Road hotel site »« More Government land sales

More Government land sales

More Government land sales

by Jo-Ann Huang Limin 04:47 AM Jun 01, 2011

SINGAPORE – As home prices continue to climb despite four rounds of cooling measures, the Government is releasing more land to meet demand.

The Housing and Development Board (HDB) will release an Executive Condominium site at Upper Serangoon View today under the Reserve List of the Government Land Sales (GLS) Programme for the first half of this year.

The site can yield some 420 housing units. Developers can submit their applications indicating their minimum prices to the HDB. If the minimum price is acceptable, the HDB will put up the land for sale by tender.

Ms Chia Siew Chun, director of research and advisory at Colliers International, said: “The view is not too bad but for amenities you will need some time to get to Hougang Central. It is quite the norm for most Executive Condominium sites that they are not right next to the MRT but you would need to take public transport to reach the commercial places.”

Besides this plot of land, the HDB and the Urban Redevelopment Authority will also be releasing three new residential sites – in Punggol, Serangoon Garden Way and Upper Serangoon – under the Confirmed List of the GLS this month.

The four residential sites can potentially yield 1,380 residential units. They are part of the total 14,310 residential units that could be generated from both the Confirmed and Reserve Lists in the GLS for the first half of this year.

Separately, the HDB said yesterday it received nine bids for a residential site at Pasir Ris Central and Pasir Ris Drive 1.

The 16,388 sq m site is expected to yield a total of 410 units. Designated under the Design, Build and Sell Scheme, it has a lease term of 103 years, including a two-year construction period.

The top bid of S$123.9 million came in jointly from Singxpress Land and Kay Lim Holdings. That amounts to about S$3,023.64 per sq m based on a gross floor area of 40,970.5 sq m on a gross plot ratio of 2.5.

The HDB will award the tender at a later date.

Source : TODAYonline – MediaCorp Press Ltd’s copyright

URA releases 2 commercial sites »« Orchard retail space oversupply?