Tender closing for residential site at Tampines Avenue 10 (Parcel B)

[dtrax]

LAND PARCEL AT TAMPINES AVENUE 10 (PARCEL B)
ALLOWABLE DEVELOPMENT : RESIDENTIAL
SITE AREA : 17,102.9 m²
MAXIMUM PERMISSIBLE GFA : 47,889 m²
DATE OF LAUNCH : 15 MAY 2013
DATE TENDER CLOSED : 16 JULY 2013
LEASE PERIOD : 99 YEARS
RANKING NAME OF TENDERER
TENDERED
SALE
PRICE ($)
TENDERED
SALE PRICE
IN
$PSM OF
GFA
1 MCC Land (Singapore) Pte Ltd $289,700,000.00 $6,049.41
2 UOL Venture Investments Pte. Ltd. and Kheng
Leong Company (Private) Limited $269,200,000.00 $5,621.33
3 Kingsford Development Pte Ltd $258,258,000.00 $5,392.85
4 EL Development Pte Ltd $230,100,000.00 $4,804.86
5 FCL Place Pte. Ltd. $225,880,000.00 $4,716.74
6 Keng Hoe Development Pte. Ltd. $203,800,000.00 $4,255.67
7 CEL EC Development Pte Ltd $201,000,000.00 $4,197.21
8 BBR Property Pte. Ltd. $192,113,300.00 $4,011.64
9 Fragrance Homes Pte Ltd $184,550,000.00 $3,853.70
10 Allgreen Properties Limited $183,060,000.00 $3,822.59

[princess_morbucks]

http://www.straitstimes.com/breaking...ussle-20130716

Published on Jul 16, 2013
8:11 PM

By Cheryl Ong

A residential plot at Tampines Avenue 10 has beaten market expectations by attracting a top bid of about $289.7 million in a 10-way tussle amongst developers.

Analysts said that they were "shocked" by the bullish bidding for the Tampines Avenue 10 (Parcel B) plot, despite new rules implemented by the Monetary Authority of Singapore last month to cap mortgage limits for borrowers already in debt.

The top bid when the tender closed on Tuesday came from Chinese developer MCC Land, with an offer of $562 per sq ft (psf) per plot ratio (ppr).

This was 7.6 per cent above the next highest bid submitted by a tie-up between UOL Venture Investments and Kheng Leong Company, at $522 psf ppr.

[Ringo33]

[princess_morbucks]

Indeed very shocking at $562 per sq ft (psf) per plot ratio (ppr), and 10 bidders!
Qbay was at $418 psf ppr in May 2012.
So it just gets higher and higher!

[DKSG]

Indeed very shocking at $562 per sq ft (psf) per plot ratio (ppr), and 10 bidders!
Qbay was at $418 psf ppr in May 2012.
So it just gets higher and higher!

When Jurong sells for $1,700, anything goes !

Developer will ask themselves, if they sell this site for $1,500, it is consider dirt cheap!

Jurong for $1,700 or QBay II for $1,500 (no MRT, no this no that) - which would u choose ?

DKSG

[DKSG]

No screams ?

DKSG

[Lovelle]

which other project is developed by mcc land ?
nvr heard of them

[nickq]

The site area is smaller than q bay and yet they bid at a higher price. What's so good about this site?

[Allthepies]

Indeed very shocking at $562 per sq ft (psf) per plot ratio (ppr), and 10 bidders!
Qbay was at $418 psf ppr in May 2012.
So it just gets higher and higher!

WOW this is crazy, higher price than even D5 Jalan Lempeng Clementi site!!!
Just like the forumers say, if FAR EAST Tampines can bid so high, Jurong East should reach $2000PSF soon! River Valley $2500psf, Orchard $5000psf!!!!

Huat ah!!!!

[aunhyunty]

When Jurong sells for $1,700, anything goes !

Developer will ask themselves, if they sell this site for $1,500, it is consider dirt cheap!

Jurong for $1,700 or QBay II for $1,500 (no MRT, no this no that) - which would u choose ?

DKSG

I don't get it. Near mrt better right?

[Pro888]

which other project is developed by mcc land ?
nvr heard of them

Coming in fast & furious. Aggressive. Mainly in the north part.

[princess_morbucks]

which other project is developed by mcc land ?
nvr heard of them

The Canopy EC
One Canberra EC
Canberra Residences

LOL...seems like they like the letter "C" with the word "can".
So mabbe this new project will start with C as well?

Perhaps this new project may be called "The Candescence" or "The Candelilla" ?

[phantom_opera]

562psf, about 150psf more than QBay

selling price will be around 1100psf, same as Qbay

[Khng8]

What's Q'bay's land price?
Anybody has ready access to this data?

[princess_morbucks]

What's Q'bay's land price?
Anybody has ready access to this data?

$418 psf ppr.

[Pro888]

562psf, about 150psf more than QBay

selling price will be around 1100psf, same as Qbay

MCC land link to Mr. Hu Jintao.

They can better manage cost, collaboration with China Jingye as the main-con.

[Khng8]

Thanks Princess!
Wow. Really surprise that this plot sell higher than Q'bay when it's located further away from the reservoir & no view to speak of?
Cooling measure also not working lei ...

[CondoInterested]

which other project is developed by mcc land ?
nvr heard of them

The Canopy EC
One Canberra EC
Canberra Residences

LOL...seems like they like the letter "C" with the word "can".
So mabbe this new project will start with C as well?

Perhaps this new project may be called "The Candescence" or "The Candelilla" ?

The Nautical does not start with 'C'

[Tan80000]

562psf, about 150psf more than QBay

selling price will be around 1100psf, same as Qbay

At least 1250psf..we shall see...

[bakasa2002]

562psf, about 150psf more than QBay

selling price will be around 1100psf, same as Qbay

Omg, really no <$1000psf le...

[Propertykaiser]

https://www.propertykaiser.com.sg/ar...o#.UeVpDY2usxh

[dtrax]

jin scary.. my guess will be av 1150 psf

[ecimbew]

MCC land is flushed with cash now. Of course this China developer is bullish. No fear. MAS says Singapore is stable.

[ecimbew]

They don't know that plot of land across the road is meant for industry. Similar to the ones further down the road. These industrial factories can be as tall as 13 storeys HDB flat height.

[bakasa2002]

They don't know that plot of land across the road is meant for industry. Similar to the ones further down the road. These industrial factories can be as tall as 13 storeys HDB flat height.

Developers dunno?

[ecimbew]

There... industrial land

[nickq]

They don't know that plot of land across the road is meant for industry. Similar to the ones further down the road. These industrial factories can be as tall as 13 storeys HDB flat height.

Is this reflected in the Masterplan that the industrial area will be so tall?

[ecimbew]

More land to be sold around the vicinity in future.
So no fear for those who do not like this plot.
A new road will be introduced behind Qbay and this parcel B.



Place of worship next to parcel B.

[ecimbew]

Is this reflected in the Masterplan that the industrial area will be so tall?

Plot ratio is 2.5 for the industrial land.
Plot ratio is 2.8 for residential land.

[ecimbew]

Good news though. Parcel B will be able to see the quarry!
But it's west sun.