Jalan Anak Bukit site awarded to Far East Organization, Sino GroupURA said the winning concept proposal “is compelling in its well-considered site planning, design response to tropical climate and integration of the various uses and public spaces”.
The tender for a commercial and residential site at Jalan Anak Bukit has been awarded to Far East Organization and Sino Group, which jointly submitted the highest bid of about $1.028 million via various entities namely, FE Landmark, FEC Residences Trustee, and FEC Retail Trustee.
Launched for sale on 30 June 2020 under the dual-envelope concept and price revenue tender system, the 3.22ha site is situated at the junction of Jalan Jurong Kechil and Upper Bukit Timah Road, next to the Beauty World MRT Station.
The 99-year leasehold site, which has a permissible gross floor area (GFA) of 96,555 sq m, attracted five bids during the close of its tender on 29 June 2021.
URA explained that the concept and price revenue tender system was adopted to “shortlist quality development concepts that are attractive and respond well to the surrounding context, with meaningful integration of amenities connected through a seamless network of pedestrian-friendly streets and well-designed public spaces”.
Far East Organization and Sino Group had submitted three different bids and concept proposals for the site.
URA said the winning concept proposal “is compelling in its well-considered site planning, design response to tropical climate and integration of the various uses and public spaces”.
Specifically, the proposed mixed-use development by Far East Organization and Sino Group featured an integrated transport hub that comes with a bus interchange on the second storey as well as civic and commercial spaces at the first three storeys along Jalan Jurong Kechil and Upper Bukit Timah Road.
“The scheme demonstrates a well-conceived design strategy in its generously spaced building blocks with a well-considered tropical design response,” noted URA.
Meanwhile, Huttons Asia CEO Mark Yip said the blended land cost is $989 per sq ft per plot ratio (psf ppr), which is in line with market after accounting for location and market sentiments.
“Under the tender docs, the maximum GFA for the residential component is around 75% of total GFA which means the estimated land cost is around $1,300 psf ppr. But this may vary depending on how the developer design the whole concept,” he added.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
Source : proppertyguru.com.sg/Property Market
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