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Thread: Three land plots put up for sale

  1. #1
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    Default Three land plots put up for sale

    http://www.businesstimes.com.sg/sub/...00740,00.html?

    Published July 2, 2010

    Three land plots put up for sale

    99-year-lease sites located at Bedok, Yishun, Jurong West

    By EMILYN YAP


    (SINGAPORE) The government yesterday rolled out for sale three plots of land across the island, potentially adding some 1,300 units to the residential supply pipeline.

    The blitz of sites followed the release of new data showing public and private home prices continuing their ascent in the second quarter.

    The three sites at Bedok, Yishun and Jurong West are from the confirmed list under the government land sales (GLS) programme in the second half of the year. The Housing & Development Board (HDB) is handling the tenders.

    Of these sites, the 99-year-lease one at New Upper Changi Road/Bedok North Drive attracted the most attention because it can house a commercial-residential development which will be integrated with a bus interchange.

    The 2.49 hectare site is at Bedok Town Centre, next to Bedok MRT Station, and is surrounded by amenities such as supermarkets and a library. It has a maximum permissible gross floor area (GFA) of 938,157 square feet and can yield an estimated 475 dwelling units.

    DTZ South-east Asia research head Chua Chor Hoon believes this plot is the most attractive of the three because it is centrally located in a well populated town. Also, 'there are only a few mixed sites available at the heart of HDB estates in the GLS programme', she said.

    Cushman & Wakefield managing director Donald Han added that Bedok still lacks a major retail centre, so there could be fairly fierce bidding for the site, in the range of $500-580 per sq ft per plot ratio (psf ppr).

    Colliers International investment sales executive director Ho Eng Joo expects to see bids coming in at $500-550 psf ppr. The tender for the site will close on Aug 17.

    Another 99-year-lease land parcel at Miltonia Close can be developed into a strata housing community, or a condominium project with 345 units and a maximum permissible GFA of 406,875 sq ft. It lies at the fringe of Yishun Town Centre and is next to The Shaughnessy terrace house project.

    While the plot may not be near an MRT station, its views of Lower Seletar Reservoir and Orchid Country Club's golf course may be a selling point, Mr Ho said. He projects bids of $300-350 psf ppr, while Mr Han is anticipating $270-320 psf ppr. The tender for this land parcel closes on Aug 24.

    There was little hype over the third site at Jurong West Street 42, which is for an executive condominium project and is some distance from Lakeside MRT Station. It has a 99-year lease and can yield an estimated 460 units with a maximum permissible GFA of 542,988 sq ft.

    Mr Ho and Mr Han expect to see bids of $230-280 and $250-300 psf ppr respectively. The tender for this site closes on Aug 12.

    With more land parcels to be released, Mr Ho believes developers will be less aggressive in their bids. This month, the Urban Redevelopment Authority (URA) will be launching another two sites from the confirmed list, and making one from the reserve list available for application.

    Mr Han added that the Miltonia Close and Jurong West sites just released by HDB are right next to other plots which can be launched for sale in future. The presence of such potential competition may make developers more price-sensitive when submitting their bids, he said.

    The government has been ramping up land supply in the last few months to temper sentiment in the property market. Flash estimates yesterday showed private home prices rising 5.2 per cent in Q2 from Q1, and HDB resale flat prices increasing 3.8 per cent.

  2. #2
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    I await the Bedok one to hit 1200psf. Just you watch.

  3. #3
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    I have special interest in this Bedok P1 plot as I grew up in Bedok...



    Take it from a bedok boy... THIS IS IT - SUPER DUPER PRIME PLOT!

    PS: I grew up in one of the blocks opp the adventure park...

  4. #4
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    bedok boy, can share a little more about this bedok plot. i looked around and only see HDB flats.

  5. #5
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    Quote Originally Posted by mcmlxxvi
    I have special interest in this Bedok P1 plot as I grew up in Bedok...



    Take it from a bedok boy... THIS IS IT - SUPER DUPER PRIME PLOT!

    PS: I grew up in one of the blocks opp the adventure park...

    Next to MNR track lei.... But guess price ya...abt 1200psf up.

  6. #6
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    Centro price? Let's see who reach the finishing line first.

  7. #7
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    Quote Originally Posted by kane
    bedok boy, can share a little more about this bedok plot. i looked around and only see HDB flats.
    Big green grass field with lots of tall trees right beside the bus interchange. Can't miss it. Part of the plot will sit right on the present interchange replacing it with the concept like Toa Payoh's... or more accurately Seng Kang (with linked residences).

  8. #8
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    i see. silly me, i was looking at another reserve site in the pic.

  9. #9
    Exalted

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    can hit more den 600psf for the land price anot? hehe...launch at 1200psf up...den neighbouring condos along EW line huat liao

  10. #10
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    not too long ago, people thought FE to be nuts to launch Centro at 1200+psf.

  11. #11
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    how is it like to stay near bus interchange? isn't the noise irritating?
    Bus noises at interchange is almost non-stop round the clock, and bus drivers have the habit of horning at each other.

  12. #12
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    Quote Originally Posted by Komo
    how is it like to stay near bus interchange? isn't the noise irritating?
    Bus noises at interchange is almost non-stop round the clock, and bus drivers have the habit of horning at each other.
    some people will tell you its alot better than NYC .. ambulance, police cars are noisier

    sporeans thinking are truly the best products of our govt's propaganda

    compare spore psf with HK ..and say cheap .. why not compare with malaysia ?

    compare spore with switzerland ..every man goes army ..compulsory
    why not compare spore with USA when the US army are voluntary and pay really good

    compare spore with China .. says our flood is small flies ..
    why not compare with another first world city ?


    compare spore's Flyer with the London Eye ?
    at least their not struck by lightning ..


    and best part ..singaporeans agree that WE ARE THE BEST ..... ???

  13. #13
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    Quote Originally Posted by proud owner
    some people will tell you its alot better than NYC .. ambulance, police cars are noisier

    sporeans thinking are truly the best products of our govt's propaganda

    compare spore psf with HK ..and say cheap .. why not compare with malaysia ?

    compare spore with switzerland ..every man goes army ..compulsory
    why not compare spore with USA when the US army are voluntary and pay really good

    compare spore with China .. says our flood is small flies ..
    why not compare with another first world city ?


    compare spore's Flyer with the London Eye ?
    at least their not struck by lightning ..


    and best part ..singaporeans agree that WE ARE THE BEST ..... ???
    Haha, you have changed after moving to NY. You say things now that you wouldn't dare to say while you were here. You have changed. i bet you will change again when you come back here.

  14. #14
    Exalted

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    Quote Originally Posted by proud owner

    and best part ..singaporeans agree that WE ARE THE BEST ..... ???
    at least singaporeans r proud of their homeland....is it a bad thing?

    we definitely nid to compare with stronger peers like HK in order to improve and upgrade...whr got compare with msia???

    my ROOT is over here in SINGAPORE! no matter wat,i will support my own country. I LOVE SG!

  15. #15
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    Quote Originally Posted by devilplate
    at least singaporeans r proud of their homeland....is it a bad thing?

    we definitely nid to compare with stronger peers like HK in order to improve and upgrade...whr got compare with msia???

    my ROOT is over here in SINGAPORE! no matter wat,i will support my own country. I LOVE SG!
    Yup... I love SG too.. not that i have not seen other countries...

    I love SG secured & relatively safe environment
    I love SG kopi-O in old fashioned kopitiam
    I love SG chay-kway-teow with fresh cockles, mee siam, roti prata
    I love SG imported durians (hehe.. i dun have jets to ferry them)

    SG does have its misgivings but isn't this part of the challenge of being a tiny weeny RED dot country state with no natural resources.

    In 5 years time, Singapore's infrastructure progress would showcase it as the top model for global city in Asia...

  16. #16
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    Mighty china is exploring into our HDB model for their own domestic lower income families

    HDB goodie!

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