{"id":100762,"date":"2018-11-01T11:58:44","date_gmt":"2018-11-01T04:58:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos\/"},"modified":"2018-11-01T12:03:22","modified_gmt":"2018-11-01T05:03:22","slug":"govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos\/","title":{"rendered":"Govt launches three sites yielding 700 ECs, over 1,300 private condos"},"content":{"rendered":"


\nAerial view of the white site at Marina View. (Photo: URA)
\nThe government released for sale on Wednesday (31 Oct) two confirmed list sites and one reserve list plot that can collectively yield 540 hotel rooms and slightly over 2,000 residential units.
\nIn particular, the Housing and Development Board (HDB) launched for sale a 24,938.7 sq m site at Tampines Avenue 10 for an executive condominium (EC) project. It has a maximum gross floor area (GFA) of 69,829 sq m, and the winning buyer is allowed to build up to 700 EC units.
\nMore:\u00a0Sentiment Among Property Developers Down On July Cooling Measures
\nExperts think the land parcel will see stiff competition given the limited supply of EC sites in the market and the strong bidding for such plots this year. For instance, Canberra Link and Anchorvale Crescent attracted nine and seven bids respectively at $558 psf ppr and $576 psf ppr.
\n\u201cTampines is the first regional centre in Singapore and a sought after place to live in. The parcel sits in a mature estate with plenty of amenities like Our Tampines Hub, connectivity options like Tampines Downtown line and green spaces like Bedok Reservoir,\u201d Huttons Asia\u2019s research head Lee Sze Teck told the Straits Times.
\nColliers International\u2019s Singapore research head Tricia Song also believes that the new rules on the average unit size of 85 sq m will unlikely dampen the demand for ECs as such properties are intended for families in the first place. The 700-unit limit also indicates that the project\u2019s average dwelling size is over 85 sq m.
\nShe expects the EC site to attract seven to nine developers, with a top bid of $420 million ($560 psf ppr). On the other hand, Knight Frank Singapore\u2019s research head Lee Nai Jia is more upbeat expecting offers of between $640 and $680 psf ppr, given the large number of upgraders eyeing the area.
\nMeanwhile, the Urban Redevelopment Authority (URA) released for sale a 11,643.3 sq m private condo site at Kampong Java Road. With a GFA of 32,602 sq m, the successful bidder can build about 435 houses on the land parcel.
\n\u201cResponse to the Kampong Java site could provide an indication of developers\u2019 confidence in the high-end home market after a spate of collective sales in the area and the recent announcement on revised unit size guidelines,\u201d said Song from Colliers.
\nShe pointed out that site will need to comply with the new average size of 85 sq m. Nonetheless, she expects the top bid to reach $470 million ($1,350 psf ppr).
\nAs for Knight Frank\u2019s Lee, he is more bullish. \u201cLand parcels in the Kampong Java area do not come by often, and the site has the added benefit of being within walking distance to Newton MRT station. We expect the winning bid to range from $1,500 to $1,600 psf ppr,\u201d he explained.
\nUnlike the two aforementioned confirmed list sites, the third site released for sale is a reserve list plot. The white site at Marina View has a land area of 7,817.6 sq m and a subterranean stratum of 18 sq m. With a GFA of 101,629 sq m, it can yield around 540 hotel rooms and 905 private condos.
\n\u201cThe land parcel is a particularly attractive site \u2013 it is located within the central business district (CBD), with the future Shenton Way MRT station right at its doorstep. Additionally, supply is expected to be limited in the future, with most unsold units from new projects in the area likely to be snapped up. We expect the winning bid to range from $1,550 to $1,650 psf per plot ratio (psf ppr), attracting between 5 to 8 bids,\u201d said Lee.
\nAs for Song, she expects the site to attract developers with hotel interests or joint ventures, with a top bid at $1.5 billion to 1.75 billion, or $1,380 to 1,600 psf ppr.
\nAll three land parcels have a leasehold tenure of 99 years.
\nThe tender for the two confirmed list sites will close on 15 January 2019. As for the reserve list plot in Marina View, it will be triggered for sale if a party commits to offer an acceptable price to the government.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Govt launches three sites yielding 700 ECs, over 1,300 private condos<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of the white site at Marina View. (Photo: URA) The government released for...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-100762","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qdc","jetpack-related-posts":[{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":100762,"position":0},"title":"Four sites totalling 1,920 homes released","date":"June 29, 2018","format":false,"excerpt":"\r View of the residential site in Clementi Avenue 1. (Photo: URA) The Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) on Thursday (28 June) launched two confirmed list sites for sale under the second half 2018 Government Land Sales (GLS) programme. One is a 153,223.19 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102998,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-ec-site-receives-healthy-interest-with-7-bids\/","url_meta":{"origin":100762,"position":1},"title":"Tampines EC site receives healthy interest with 7 bids","date":"January 16, 2019","format":false,"excerpt":"\r Location map of the EC site at Tampines Avenue 10. Source: HDB The tender for an executive condominium (EC) site at Tampines Avenue 10 received healthy interest from developers, with seven bids received. A consortium comprising Hoi Hup Realty and Sunway Developments submitted the highest bid of $434.45 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ec-site-in-sumang-walk-launched-for-sale\/","url_meta":{"origin":100762,"position":2},"title":"EC site in Sumang Walk launched for sale","date":"December 13, 2017","format":false,"excerpt":"\r HDB has launched a residential site for EC development at Sumang Walk. (Photo: HDB) An executive condominium (EC) site measuring 27,056.4 sq m in Sumang Walk has been launched for sale via public tender on Tuesday (12 December), according to the Housing & Development Board (HDB). Offered under the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90064,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-residential-sites-yielding-1880-homes-released-for-sale\/","url_meta":{"origin":100762,"position":3},"title":"3 residential sites yielding 1,880 homes released for sale","date":"June 1, 2018","format":false,"excerpt":"\r Aerial view of the sale site at Dairy Farm Road. (Photo: URA) Three residential sites that could yield a total of 1,880 housing units were released for sale by the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) on Thursday (31 May) under the Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92702,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-release-14-sites-yielding-a-total-of-8040-homes\/","url_meta":{"origin":100762,"position":4},"title":"Govt to release 14 sites yielding a total of 8,040 homes","date":"June 28, 2018","format":false,"excerpt":"\r \u00a0 The Urban Redevelopment Authority said on Wednesday (27 June) that it intends to release six confirmed list sites and nine reserve list sites under the second half 2018 Government Land Sales (GLS) programme. These sites could yield up to 8,040 private homes, including 1,210 executive condominiums (ECs). Specifically,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-confirmed-list-sites-to-launch-in-1h-2017-could-yield-2330-units\/","url_meta":{"origin":100762,"position":5},"title":"5 confirmed list sites to launch in 1H 2017, could yield 2,330 units","date":"December 16, 2016","format":false,"excerpt":"\r The government will look to ensure there is a steady supply of new homes to meet the needs of Singaporeans. The Ministry of National Development (MND) announced on Friday (16 December) that there will be five confirmed list sites and 10 on the reserve list in the first half\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100762"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=100762"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100762\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}