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Singapore Land Sales

Category for news and information related to government land sales in Singapore. Land sales point to future developments investors will do well to keep abreast of.

Two Residential Sites Released for Tender - Lorong Puntong and Sembawang Road

As part of the 2nd half 2014 (2H2014) Government Land Sales Program (GLS), the URA and 

HDB have released two sites under the confirmed list for 99-year residential
development. These sites will yield 900 units adding to the existing pipeline of 90k
private residential and EC units.

Site 1: Lorong Puntong

  • Located at the junction of Sin Ming Ave and Lorong Puntong
  • Near Ai Tong School and Thomson Plaza
  • Near Bishan Park Secondary School and Pierce Secondary School
  • Near Lower Peirce Reservoir, Bishan-AMK Park, SICC
  • Close to Birght Hill and Thomson MRT stations on TEL
  • Site area of 10,508sqm
  • GFA of 22,056sqm
  • Private Residential
  • Max 4 storeys
  • 280 units

Site 2: Sembawang Road

  • Located at the junction of Sembawang Avenue and Canberra Link opposite a site reserved
  • for future sports and recreation
  • New Sembawang MRT and the future Canberra station
  • Short drive to Sembawang Shopping Centre, Sun Plaza, NOrhtpoint, Sembawang Park
  • Near Sembawang Primary, Wellington Primary, Sembawang Secondary and Canberra Secondary
  • Site area of 28745 sqm
  • GFA of 60,366 sqm
  • EC Development
  • 605 EC units

 


Highlights of the 2H2014 GLS Program Announced on Jun 10, 2014

9 confirmed list sites:

  • 3 private residential
  • 3 EC sites
  • 2 mixed (Holland Village extension) and
  • 1 commercial (near Payar Lebar MRT Station)
  • 2400 private residential and 1500 EC units
  • 159000 sqm GFA

 

14 reserve list sites:

  • 12 private residential
  • 1 EC site
  • 1 commercial and
  • 1 white site
  • 6300 private residential units
  • 195000 sqm GFA of commercial space.
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Land in Potong Pasir and Sembawang Are Up For Tender

The URA release two plots of 99-year leasehold land for sale on Apr 30, 2014. Both sites are expected to yield a total of 1300 homes.

The first plot of land is in Potong Pasir, on Meyappa Chettiar Road next to the Potong Pasir MRT station. Its on the Confirmed List. It's near St Andrew's Jr, St Andrew's Secondary and St Andrew's Junior College and close to the Woodsville and Whampoa flyovers that access the PIE and the CTE. 

The second EC site is in Sembawang. This particular plot is on the reserved list and is flanked by Canberra Link, Sembawang Road and Canberra Drive. Its close to the Sembawang MRT statioln (NS11).

For more information:

URA website for Meyappa Chettiar Road

URA website for Sembawang Road.

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Woodlands Square Land Tender Draws 8 Bids

The 99-year leasehold site at Woodlands Square was put up for tender in Dec 2013 and drew 8 bids from heavyweight Singapore property developers. The site has an area of over 199k sq ft and will yield a total of almost 700k ssft of gross floor area (GFA). It consists of 5 separate plots of land with two of them underground. At least 90% of this area must be dedicated to office space with the other 10% for childcare and F&B. Strata sale of the office units are allowed. The highest bid was by a consortium that Includes Far East Civil
Engineering and Sekisui House for $634 million or $902 pre square foot which was within the expected 500 to 1100psf range. The lowest bid of $308million was way below the leading bids. The high bids for this site shows that developers are positive about URA plans for the Woodlands area. In 1991, the concept of decentralized regional centers was introduced and Woodlands Regional Center one of its realizations. One of the objectives is to create a regional employment areas bringing jobs closer to home. There will be extensive pedestrian links to Causeway Point, Civic Cente, Woodlands MRT station and bus interchange and the upcoming Thomson Line MRT station.

More information about the URA's tender of this site and the intended land use can be found here:

http://www.ura.gov.sg/uol/media-room/news/2013/dec/pr13-86.aspx

 

Satellite Photo of Woodlands Square from Google Map:

woodlands square

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Upcoming Residential and Commercial Integrated Development at Yishun Central

A mixed-use commercial and residential plot at Yishun Central was launched for tender on Feb 28, 2013 with the tender results announced on Sept 5, 2013. The tender was won by North Gem Development P/L and FC North Gem Trustee P/L, units related to Fraser Centerpoint P/L for $1.43 billion dollars. This was 47% higher than the next highest bidder, a consortium that includes Far East.  This price works out to be $1,077 per square foot per plot ratio (psf ppr) for the 99-year leasehold site, somewhat higher than the $750-850 psf ppr expected.

The plot of land located between Yishun Ring Road and Yishun Avenue 9, the location of the upcoming Junction 9 mixed development was sold at just $794.44 psf ppr so Frasers is betting on the benefits of the location raising the psf that investors are willing to pay. The plot of land at Yishun Central is right next to Northpoint Mall, Yishun 10 and Yishun Library, which explains the high bid by Frasers who  also owns Northpoint Mall. It's all about market domination and the track record of Northpoint which is also owned by Frasers.

The plans for the site include a 12-storey integrated development consisting of about 900 residential units sitting on top of a retail mall, community club and bus interchange. Subject to approval this development may also be connected to Northpoint via link bridges and a covered pedestrian promenade. Another big plus is that the Yishun MRT is just across the road (Yishun Ave 2), a big advantage over other mixed developments such as Junction 9. The commercial units in this development will benefit from the heavy foot traffic associated with bus interchanges and MRT stations and the attractiveness to shoppers of having a large number of shops in the same local area.

The residential units need to be attractively priced to sell as shown by recent launches such as Riverbank and RiverTrees Residences in Sengkang which generated a lot of interest because of the lower psfs. Reported estimates are in the $1300-$1450 range. "Skies Miltonia, a 99-year leasehold condominium project in the Yishun area recently transacted an median price of $1,070 psf and it is 1.7km from the nearest MRT station which is Khatib.

 

hdb map

Photo credits - HDB

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On Dec 18 2013, the URA published the Government Landsales for First Half 2014 (1H2014) in their media release entitled: First Half 2014 Government Land Sales (GLS) Programme.

The details in this report can be summarised in the following table:

 

List

Private Sites (including ECs)

Units (including ECs)

Commercial Sites

GFA (sqm)

White Site

Confirmed List

7 (4 EC)

4600 (incl. 2200 ECs)

1 (Mixed)

5000

-

Reserved List

13 (1 EC)

7000 (600 ECs) 

1

188000 

1

Notes:

  1. ECs - Executive Condominium
  2. GFA - Gross Floor Area
  3. Reserved List - sites on this list go on sale if a developer meets the minimum price that is acceptable to the government

 The 4600 residential units from the Confirmed List will join an existing large pipeline of 97,400 private housing units (ECs included). Again, to discourage sky high bids, two pairs of sites, one pair at Yishun St 51 for ECs and another at Fernvale Road for condos will be batched together for the tender exercise.

The two commercial sites on reserved list are a White site at Marina View and a commercial site at Sims Avenue.  These will contribute an additional 188000 sqm GFA to the 1.1 million sqm GFA of office space already in the pipeline if there is demand.

From these figures, there is a healthy supply of residential units and commercial space already in the pipelines to which the sites on the confirmed list will add to and in addition, there are more sites on the reserved list that can cater if there is demand.

There are already 12700 hotel rooms in the pipeline and the hotel site at Race Course Road which has been on the reserved list since May 2011 will be taken out.

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Future Condo at Queenstown Land Parcel S9A

As posted elsewhere, its a good idea to keep track of government land sales if you are looking to invest in property. Queenstown is a popular choice among condo hunters because of its location and in Feb, the HDB tendered a plot of land that is across road from the Queentown MRT. Being close to MRT stations is a big draw for investors as its convenient to both residents and tenants alike and more so if the station is already up and running. There are several MRT lines such as the Thomson Line and parts of the Downtown Line in various stages of planning and construction but properties near to stations on these line won't enjoy the convenience until those stations are built. So, having one within a short walking distance is definitely a boost for sales. The plot of land sold in Feb is designated S9A and is intended for condo use. No announcements have been made so far but it will come. Read more about this land parcel and the good things about it here. Stay tuned for more news at sgpropertysource.com.

 

 

 

 

 

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The tender for two plots of leasehold, designated Parcel A and B located at Upper Serangoon View, closed on Nov 28, 2013 and Kingsford Development, owned by Chinese nationals, have submitted the highest bids of $522 per sqft plot ratio for both parcels. This was above the expected range of $450-480 and is somewhat higher 16% and 13% compared to the next higher bids and may be due to Kingsford wanting to build up its land bank. It also shows more moderate bidding from the other developers.  Additional details about the two parcels can be found here: at http://www.ura.gov.sg/uol/land-sales-repository/sites-closed/~/media/User%20Defined/URA%20Online/land-sales/Sites/upp-serangoon-view-ab/images/upp-srgn-view-brochure.ashx. Parcel A is expected to house 510 units and parcel B 410 units for a total of 920.

The location enjoys direct access to Serangoon Park Connector and offers views of Sungei Serangoon (Serangoon River). Amenities nearby include Hougang Mall and Heartland Mall and many schools. Parcel A is next to the Rio Vista condo and Serangoon Secondary School while the adjacent Parcel B sits alongside Boathouse Residences and Heron Bay.

Stay tuned if you are looking for a new launch condo in the Serangoon area. The selling points of the new Serangoon View condos include:

  • River views
  • Lots of schools
  • Direct Park Connector link
  • Nearby shopping

google map of land parcels A and B at Upper Serangoon View

Google Map Showing the Approximate Locations of Land Parcels A and B at Upper Serangoon Road. The park connector is along the river.

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Posted by on in Singapore Land Sales

A new condo yet to be name which we will call Condo @ Fernvale is expected to be built next to H2O Residences in Sengkang. The tender for this land parcel was awarded on June 14, 2013 at $533 psf which means the finished units should go for something like 2X this figure or about $1070 psf plus/minus. The location is a short walk from the Layar LRT and boasts of several schools in the vicinity such as Pei Hwa Secondary School which is within walking distance or the Nan Chiau schools which are just a short drive or bus ride away.

Buyers and investors will do well to watch or research government land sales to ascertain where the next properties will be built. Each tender execise will give location, type of land use and the winning psf from which the condo psf can be estimated.

Fernvale Condo Land

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