Property RAR
Singapore Property - Contact us @ +65 9878 4688 or +65 90093586 right now
  • Home
  • About Us
    • Buying
    • Selling
    • Renting
    • Partners
  • Properties
    • La Fiesta at Seng Kang
    • La Fiesta @ Seng Kang
    • Nine Residences and Junction 9 at Yishun >
      • Nine Residences and Junction 9 at Yishun Floorplan
    • Hexacube Singapore Commercial at 160 Changi Road AIA >
      • Hexacube Singapore Commercial at 160 Changi Road AIA Floor plan
    • NorthPark (Northpoint) Residences Yishun Central MRT
  • News
  • Contact Us

EC site in Jurong attracts 16 bids

5/8/2013

1 Comment

 
www.propertyguru.com.sg | 2 Aug 2013
Picture
An executive condominium (EC) site (pictured) at Yuan Ching Road/Tao Ching Road drew 16 bids at the close of its tender on Tuesday, according to the HDB. The 217,298 sq ft site with a maximum gross floor area (GFA) of 651,895 sq ft was among three EC sites offered on 99-year leases.

A consortium comprising Evia Real Estate, BBR Development, CNH Investment and OKP Land submitted the highest bid of S$272.83 million or S$419 per sq ft on the GFA.


"My EC will look and sell exactly like the condo, right after 5 years...." -- Google PHOTO

According to Desmond Sim, Associate Director at CBRE Research, the relatively stronger response for the Yuan Ching Road site compared to the other two plots may be "because it is the first EC site tender in Jurong West since the withdrawal of a previous tender in the area in July 2010".
"The confidence in the Jurong story, coupled with the recent strong showing for J-Gateway, most likely prompted the highest bid of S$419 per sq ft for the site. The breakeven is estimated to be in the region of S$800 per sq ft, which translates to a selling price of about S$900 psf. This launch price could set a new record for the EC market."Meanwhile, the second site at Punggol Central/Edgedale Plains received a total of eight bids with the top bid of S$156 million or S$356 per sq ft/GFA submitted by Master Contract Services and Keong Hong Construction. It has an area of 146,010 sq ft and a maximum GFA of 438,030 sq ft.

The remaining land parcel at Punggol Drive/Edgedale Plains has an area of 259,031 sq ft and a maximum GFA of 880,706 sq ft. It attracted six bids with Peak Square posting the highest offer of S$312.8 million or S$355 per sq ft/GFA.

Considering the large number of existing EC projects in Punggol, developers were cautious and instead submitted bids for the Yuan Ching site, said Sim.

He added that the simultaneous closing of tenders has not affected developers' appetite for sites, mainly due to the positive outlook for EC market demand going forward.
1 Comment
Joyce Burke link
28/5/2022 02:27:22 am

Very nice blog you have heere

Reply



Leave a Reply.

    Singapore Property News

    Singapore Property News.
    Do note that the news posted are representations from Singapore local sources and do not represent the views of R&R Real Estate Services. However, you are invited to comment and engage a discussion with us, should you have any views that you want to share.

    Archives

    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013

    Categories

    All
    Commercial
    Condominium
    Cooling Measures
    Council For Estate Agencies
    Developer
    Executive Condominium
    Foreigners
    Gdp
    Good Class Bungalow
    Government Policies
    HDB
    Industrial
    Interest Rate
    Mixed Development
    New Launches
    Permanent Residents (PR)
    Private Homes
    Singapore Land For Sale
    South East Asia
    Total Debt Servicing Ratio

    RSS Feed


Powered by Create your own unique website with customizable templates.
Copyright 2012-2014 PropertyRAR, R & R Real Estate Services Singapore Property. All rights reserved.