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Thread: UOL-UIC tie-up places top bid for Clementi Ave 1 site

  1. #1
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    Default UOL-UIC tie-up places top bid for Clementi Ave 1 site

    https://www.businesstimes.com.sg/real-estate/uol-uic-tie-up-places-top-bid-for-clementi-ave-1-site

    UOL-UIC tie-up places top bid for Clementi Ave 1 site
    WED, JUL 03, 2019 - 5:56 PM
    KALPANA [email protected]@KalpanaBT
    A STATE tender for a 99-year leasehold private housing site along Clementi Avenue 1 has attracted five bids.

    Units of UOL Group and United Industrial Corporation tied up to place the top bid of S$491.3 million, which works out to S$788.31 per square foot per plot ratio (psf ppr).

    Another state tender, for an executive condominium or EC housing site along Canberra Link in the Sembawang area, has drawn eight bids.

    The highest bid, from MCC Land (Singapore), was at S$233.89 million, translating to about S$566 psf ppr.

    ECs are a public-private housing hybrid.

    Both land parcels have 99-year leasehold tenure. Tenders for both parcels closed on Wednesday.

  2. #2
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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    looking at the bid prices, the winners clearly don't expect new launch prices to fall below 1300psf nor believe there is oversupply.

  3. #3
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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    My impression of UOL tends to snap up good land deals. They buy when there is fear in the market. Imo, this price is in favor to the developer.

    Parkwest sold to SHY at around 850psf.
    Last edited by devilplate; 6th July 2019 at 10:57 PM.

  4. #4
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    Smile Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Quote Originally Posted by devilplate View Post
    My impression of UOL tends to snap up good land deals. They buy when there is fear in the market. Imo, this price is in favor to the developer.

    Parkwest sold to SHY at around 850psf.
    wow bro, when was the last time u posted man hahaha. back after so many years MIA?

  5. #5
    Exalted

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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Many old timers had gone missing. Probably retired from enbloc deals.

  6. #6
    Ultimate Underdog

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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Possibly some have returned their ICs.

    Others have forgotten their passwords or canít be bothered to retrieve them.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  7. #7
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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Quote Originally Posted by bargain hunter View Post
    looking at the bid prices, the winners clearly don't expect new launch prices to fall below 1300psf nor believe there is oversupply.
    Is the clementi avenue 1 site not bidded 70psf lower than the one at former park west by SHY?

    Developers are the ones controlling the market now. Even if there is oversupply, they can still maintain launch pricing however they like.

    The 5 sole bids speaks alot about the sentiments among developers.

  8. #8
    Ultimate Underdog

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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    This site is subject to the more stringent building criteria implemented recently. All else being equal, a lower number of units can be built. Average size is larger, with more space set aside for common facilities.

    Car park lot provision would be less than the number of units by a greater margin.

    Not Apple to Apple comparison.

    Quote Originally Posted by annetyu View Post
    Is the clementi avenue 1 site not bidded 70psf lower than the one at former park west by SHY?

    Developers are the ones controlling the market now. Even if there is oversupply, they can still maintain launch pricing however they like.

    The 5 sole bids speaks alot about the sentiments among developers.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  9. #9
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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Quote Originally Posted by Kelonguni View Post
    This site is subject to the more stringent building criteria implemented recently. All else being equal, a lower number of units can be built. Average size is larger, with more space set aside for common facilities.

    Car park lot provision would be less than the number of units by a greater margin.

    Not Apple to Apple comparison.
    Still, the clementi avenue 1 site is arguably more attractive, both location and price-wise.

    SHY needs to be creative to sell those thousand-plus units.

  10. #10
    Ultimate Underdog

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    Default Re: UOL-UIC tie-up places top bid for Clementi Ave 1 site

    Not sure why you think so. Can elaborate with evidence?

    Park West side has more depth away from AYE while Clementi Ave 1 site is a strip of land wrapping AYE and Clementi Ave 2.

    Exact distance to MRT or Clementi Mall, Park West site is shorter by about 30%.

    The most famed Pri school (NHPS) in the vicinity is only maybe 100-200m away from Park West site, although Ave 1 site boasts two premier Secondary schools.

    Quote Originally Posted by annetyu View Post
    Still, the clementi avenue 1 site is arguably more attractive, both location and price-wise.

    SHY needs to be creative to sell those thousand-plus units.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

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