{"id":101956,"date":"2018-12-03T12:30:50","date_gmt":"2018-12-03T05:30:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bugis-gls-sites-expected-to-be-strongly-contested\/"},"modified":"2018-12-03T13:07:43","modified_gmt":"2018-12-03T06:07:43","slug":"bugis-gls-sites-expected-to-be-strongly-contested","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bugis-gls-sites-expected-to-be-strongly-contested\/","title":{"rendered":"Bugis GLS sites expected to be strongly contested"},"content":{"rendered":"


\nAerial view of the land parcel at Middle Road. Source: URA
\nThe Urban Redevelopment Authority (URA) launched two confirmed list sites and another two reserve list plots for sale last Friday (30 Nov) under the second half 2018 Government Land Sales (GLS) programme.
\nOverall, these four sites can yield a total of about 1,915 homes. But the most attractive sites are the 80,327.83 sq ft confirmed list site at Middle Road and the 124,117.57 sq ft reserve list plot along Tan Quee Lan Street, property experts told the Business Times.
\nWith a maximum gross floor area (GFA) of 337,384 sq ft, the first site is zoned residential with commercial at the ground floor that can generate about 375 homes. While the second site carries the same zoning, it has a larger GFA of 521,296 sq ft and can yield some 580 apartments.
\n\u201c(Both sites are) sandwiched between the Bugis planning area, which is bustling with retail amenities and tourist attractions, and the City Hall-Suntec City locality which is one of the business district precincts,\u201d said ZACD Group\u2019s executive director Nicholas Mak.
\nColliers International\u2019s Singapore research head Tricia Song pointed out that the Tan Quee Lan Street site could receive a higher top bid of $780 million ($1,500 psf ppr) as it\u2019s just the above Bugis MRT interchange.
\nShe added that the nearby DUO Residences has already sold 655 of its 660 units since it was launched in 2013 at an average selling price of $2,036 psf.
\nAs for Mak, he reckons the site will draw bids ranging from $1,350 to $1,550 psf ppr, while the nearby Middle Road plot could receive slightly lower offers of $1,300 to $1,500 psf ppr.
\nBoth land parcels are expected to be strongly contested by developers as these are located within Singapore\u2019s Central Region. Hence, they are exempt from the higher average unit size of 85 sq m (approx. 915 sq ft) or 100 sq m (approx. 1,076 sq ft).
\nMeanwhile, analysts expect softer demand for the remaining confirmed list plot \u2013 a 174,646.6 sq ft site at Sims Drive with a GFA of 523,944 sq ft.
\n\u201cGiven the fact that this subject site at Sims Drive is further from the MRT station and near the PIE expressway which means it would be affected by traffic noise, this site would be priced less competitively,\u201d Mak noted.
\nAs for the a 168,597.28 sq ft reserve list site at Dairy Farm Walk with a GFA of 354,057 sq ft, experts think that it\u2019s unlikely to be triggered for sale in the near future.
\nThe tender exercise for the two confirmed list sites will close on 28 March 2019, while the reserve list plots will only be released for sale if a developer commits to submit a bid price that is acceptable 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…Bugis GLS sites expected to be strongly contested<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of the land parcel at Middle Road. Source: URA The Urban Redevelopment Authority...<\/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-101956","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-qws","jetpack-related-posts":[{"id":122310,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-residential-sites-at-lentor-hills-road-jalan-tembusu-released-for-sale\/","url_meta":{"origin":101956,"position":0},"title":"Three residential sites at Lentor Hills Road, Jalan Tembusu released for sale","date":"October 1, 2021","format":false,"excerpt":"\r Three residential sites at Lentor Hills Road, Jalan Tembusu released for saleThree residential sites located at Lentor Hills Road (Parcels A and B) and Jalan Tembusu have been released for sale under the second half 2021 Government Land Sales (GLS) programme, revealed the Urban Redevelopment Authority (URA) on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/lentor-gls-1-oct.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":101956,"position":1},"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":90064,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-residential-sites-yielding-1880-homes-released-for-sale\/","url_meta":{"origin":101956,"position":2},"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":108520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-3-residential-sites-under-1h2019-gls-programme\/","url_meta":{"origin":101956,"position":3},"title":"URA launches 3 residential sites under 1H2019 GLS Programme","date":"June 28, 2019","format":false,"excerpt":"\r The Urban Redevelopment Authority (URA) on Thursday (27 June) released two housing sites and one residential with commercial at first storey site for sale under the first half 2019 Government Land Sales (GLS) Programme. Together, the three sites are expected to yield around 1,545 residential units. Launched for sale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-pine-grove-sites-released-for-sale\/","url_meta":{"origin":101956,"position":4},"title":"Two Pine Grove sites released for sale","date":"December 1, 2021","format":false,"excerpt":"\r The two Pine Grove sites can potentially yield up to 1,085 units\u00a0altogether. Source: URA Two residential sites at Pine Grove (Parcels A and B) that can jointly yield up to 1,085 units have been released for sale under the reserve list of the second half 2021 Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/PINE-GROVE-URA.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":74514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-land-sales-programme-for-h1-2018\/","url_meta":{"origin":101956,"position":5},"title":"Govt unveils land sales programme for H1 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, announced the Urban Redevelopment Authority (URA) on Wednesday (13 December). 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