Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: URA receives 12 bids for Ang Mo Kio site

  1. #1
    Invester

    User Info Menu

    Default URA receives 12 bids for Ang Mo Kio site

    A 99-year leasehold residential site located at Ang Mo Kio Avenue 2 received a total of 12 bids when the Urban Redevelopment Authority (URA) closed its public tender yesterday.

    Pinehill Investments submitted the highest offer of S$550 million for the 18,482.2 sq m site which has a maximum gross floor area (GFA) of 64,688 sq m. The top bid works out to around S$8,500 psm on the site’s GFA.

    According to Joseph Tan, Executive Director for Residential at CBRE, strong interest for the site is mainly due to its location. The site is near St Nicholas Girls School, Bishan Park and the upcoming Mayflower MRT station on the Thomson Line.

    Tan noted that “the top seven bids were between S$487 million and S$550 million (S$700 psf/plot ratio - S$790 psf/plot ratio). The top bid of S$550 million (S$790 psf/plot ratio) is only 2.6 percent above the next bid”.

    The new development will likely be 35- to 40-storeys high comprising 680 units and there is expected to be “healthy interest in the project from upgraders in the nearby mature estates”, said Tan.

    “The project will be ready for launch in six to nine months’ time. In anticipation of latent demand, the sale price is anticipated to be S$1,500 psf or more.”

    A decision on the award of the tender will be made after all the bids have been evaluated

  2. #2
    Junior

    User Info Menu

    Default

    The CBRE Executive Director never do homework before opening his mouth. Can anyone spot it?

  3. #3
    Junior

    User Info Menu

    Default

    Quote Originally Posted by august
    The CBRE Executive Director never do homework before opening his mouth. Can anyone spot it?
    erm, 35- to 40-storeys high?

  4. #4
    Senior

    User Info Menu

    Default

    It is still quite a distance away from bishan park....

  5. #5
    必ず

    User Info Menu

    Default

    6-9 months.. That's a bit ambitious.

  6. #6
    Junior

    User Info Menu

    Default

    Quote Originally Posted by eng81157
    erm, 35- to 40-storeys high?
    bingo

  7. #7
    Senior

    User Info Menu

    Default

    the plot ratio is 3.0 based on the old masterplan, have they updated it to 3.5?

    why is 35-40 storeys not likely? I know the next door HDB isn't so high but they are probably going to phase in higher rise apts no?

  8. #8
    Newbie

    User Info Menu

    Default

    There is a maximum of 104m AMSL so if it's on high ground already, the building height will not be able to hit 30 storey. (hope I get this right)

  9. #9
    Senior

    User Info Menu

    Default

    Quote Originally Posted by Khng8
    There is a maximum of 104m AMSL so if it's on high ground already, the building height will not be able to hit 30 storey. (hope I get this right)
    it is in fact on lower ground.

  10. #10
    Junior

    User Info Menu

    Default

    [B][SIZE="4"]Pinehill Investments awarded Ang Mo Kio residential site[/SIZE][/B]
    [url]http://www.propertyguru.com.sg/property-management-news/2013/1/34987/pinehill-investments-awarded-ang-mo-kio-residentia[/url]

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •