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Thread: 15 bids for tender at Upper Serangoon Road

  1. #1
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    Default 15 bids for tender at Upper Serangoon Road

    http://www.channelnewsasia.com/stori...146462/1/.html

    15 bids for tender at Upper Serangoon Road

    SINGAPORE: Urban Redevelopment Authority (URA) said the tender for a residential site at Upper Serangoon Road / Pheng Geck Avenue (Parcel A) closed with 15 bidders.

    The top bid of S$185.16 million came from Clerodendrum Land - a unit of Tuan Sing Holdings. The bid translates to a land price of S$6,106.52 per square metres of gross floor area.

    Realty Consortium submitted the second highest bid of S$178.9 million, while Qingdao Construction (Singapore) handed in the third highest bid of S$175 million.

    The lowest bid was S$78.2 million from Ace Asset Development.

    The 99-year lease site was launched on June 21 and measures 8,663.5 square metres.

    Zoned for residential use, the land has a maximum permissible gross floor area of 30,323 square metres.

    URA said it will make a decision on the tender award after it evaluates the bids and will announce this at a later date.

    - CNA/ck

  2. #2

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    Thats $568psf ppr, lower than nin residence bid of 607psf ppr.


  3. #3
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    Quote Originally Posted by azeoprop
    Thats $568psf ppr, lower than nin residence bid of 607psf ppr.

    still a bullish bid given the current global financial markets sell down and the fact that there are 15 bidders..., show developers still want to load up their land bank....

  4. #4

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    It's a long strip of land. Separated from the road by the MRT entrance and bus stop. But I guess the proximity to the MRT entrance is valuable.

    Tender closed on 11 Aug
    So probably the submission was done before the US crisis
    http://www.ura.gov.sg/pr/graphics/2011/pr11-99a.pdf

    Last edited by ecimbew; 11th August 2011 at 11:06 PM.
    Yee ha! Did I tickle your funny bone?


  5. #5

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    It could be due to the submissions prior to early August stock market meltdown.

    "The 99-year lease site was launched on June 21 and measures 8,663.5 square metres."

    Developer is likely to delay the launch to 2012 in view of the market instability.

  6. #6

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    The view facing the low rise landed looks good. Look, this photo is old enough to show what Woodsville 28 used to be. A row of 2-storey landed houses..

    Last edited by ecimbew; 11th August 2011 at 11:23 PM.
    Yee ha! Did I tickle your funny bone?


  7. #7

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    Bad for the landed properties behind the strip. They will firesale

  8. #8

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    May be good news for them. Not dusty and noisy anymore.
    Quote Originally Posted by hyenergix
    Bad for the landed properties behind the strip. They will firesale

  9. #9
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    Quote Originally Posted by azeoprop
    Thats $568psf ppr, lower than nin residence bid of 607psf ppr.

    which means nin residences could be more expansive by 38 dollars assuming everything is the same....

    However, it should be neutralised by construction cost and square off...

    nin is safe..... just hope that it is not call beh... then nin beh....

  10. #10
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    http://www.ura.gov.sg/pr/graphics/2011/pr11-99a.pdf

    Any idea what the winning tenderer, Clerodendrum Land, renown projects are?...
    It might give us a better idea of their style of design...

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