{"id":108708,"date":"2019-07-04T10:02:10","date_gmt":"2019-07-04T03:02:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-avenue-site-attracts-5-bids-canberra-link-site-gets-8\/"},"modified":"2019-07-04T10:04:01","modified_gmt":"2019-07-04T03:04:01","slug":"clementi-avenue-site-attracts-5-bids-canberra-link-site-gets-8","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-avenue-site-attracts-5-bids-canberra-link-site-gets-8\/","title":{"rendered":"Clementi Avenue site attracts 5 bids, Canberra Link site gets 8"},"content":{"rendered":"


\nThe tenders for a residential site at Clementi Avenue 1 and an executive condominium (EC) site at Canberra Link attracted healthy interest from developers with five and eight bids received, respectively.
\nA consortium comprising units of UOL Group and United Industrial Corporation (UIC) submitted the top bid of $491.3 million or $788 per sq ft per plot ratio (psf ppr) for the 99-year leasehold site at Clementi Avenue.
\n\u201cWe like this Clementi Avenue 1 site for the same attributes that contributed to the 100 percent sell-out for our adjoining development, The Clement Canopy. From our experience, we believe that there is very strong demand for this locale due to its close proximity to a strong educational cluster anchored by NUS, NUS High School and Nan Hua High,\u201d said Liam Wee Sin, group chief executive of UOL Group.
\n\u201cThis site would attract not just homebuyers and upgraders but also investors given the catchment of potential tenants from nearby establishments such as One-North, Science Park and NUH.\u201d
\nLiam revealed plans to develop the site into a 40-storey development comprising 640 units. \u201cIt is definitely a timely replenishment for our landbank given that The Tre Ver and Amber 45 are more than 75 percent sold,\u201d he said.
\nLooking for a new home but not sure where to start? Check out our\u00a0Area Insider Guides\u00a0for insights!
\nMeanwhile, MCC Land submitted the highest bid of $233.89 million or $566 psf ppr for the Canberra Link EC site.
\nThe second highest bid was offered by CDL Constellation and TID Residential at $233.5 million.
\nMCC Land\u2019s relative success of their recent projects Northwave (EC), the Alps Residences and Queens Peak may have encouraged it to replenish their land bank, said CBRE research head for Southeast Asia Desmond Sim.
\nHuttons Asia research head Lee Sze Teck noted that the batched tender closure of the two sites may have \u201ca slight impact on the level of participation for the Clementi Avenue 1 site with more developers preferring to focus on the EC segment\u201d.
\nThis comes as demand for EC is considered as \u201cmore resilient as the deferred payment policy gives buyers of ECs an advantage\u201d, he said.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Clementi Avenue site attracts 5 bids, Canberra Link site gets 8<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The tenders for a residential site at Clementi Avenue 1 and an executive condominium (EC)...<\/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-108708","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-shm","jetpack-related-posts":[{"id":120509,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-preview-the-watergardens-at-canberra-on-saturday\/","url_meta":{"origin":108708,"position":0},"title":"UOL to preview The Watergardens at Canberra on Saturday","date":"July 16, 2021","format":false,"excerpt":"\r Prices for The Watergardens at Canberra start at\u00a0under $920,000, $1.3 million and $1.8 million for a two-, three- and four-bedroom apartment respectively. The Watergardens at Canberra, UOL Group\u2019s latest residential project, is set to open for preview this Saturday (17 July), with prices starting from under $1,400 per sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/the-watergardens-at-canberra-facilities-overview-singapore-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104525,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-site-launched-for-sale-could-yield-640-homes\/","url_meta":{"origin":108708,"position":1},"title":"Clementi site launched for sale, could yield 640 homes","date":"March 1, 2019","format":false,"excerpt":"\r Located adjacent to The Clement Canopy, the site is easily accessible to Jurong Lake District and the CBD. A private residential site at Clementi Avenue 1 that could potentially yield a maximum of 640 housing units was launched for sale via public tender, revealed the Urban Redevelopment Authority (URA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-projects-in-clementi-potong-pasir-in-next-two-years\/","url_meta":{"origin":108708,"position":2},"title":"UOL to launch new projects in Clementi, Potong Pasir in next two years","date":"November 21, 2016","format":false,"excerpt":"\r The Clement Canopy in Clementi is set to be launched in early 2017. (Photo: URA) Property developer UOL Group is planning to launch two new residential projects in Clementi and Potong Pasir over the next two years, reported Singapore Business Review, citing a report from OCBC Investment Research. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":108708,"position":3},"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":20898,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/experts-urge-calm-amid-record-flat-prices-in-clementi\/","url_meta":{"origin":108708,"position":4},"title":"Experts urge calm amid record flat prices in Clementi","date":"July 15, 2016","format":false,"excerpt":"\r View of HDB blocks at Casa Clementi. (Source: Surbana.com) Property experts have called for calm following instances of sky-high resale HDB prices seen at Casa Clementi, a mega public housing project along Clementi Avenue 1. Last month, a 5-room flat at Block 425 was sold for $960,000, while another\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17434,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-room-hdb-flat-shatters-singapore-real-estate-record\/","url_meta":{"origin":108708,"position":5},"title":"5-room HDB flat shatters Singapore real estate record","date":"June 23, 2016","format":false,"excerpt":"\r The deal\u00a0sold for a record SGD960,000 (USD717,400) View of HDB blocks at Casa Clementi According to Housing Board data, a five-room HDB resale flat at Block 425 Clementi Avenue 1 was sold for a record SGD960,000 (USD717,400) this month,\u00a0which translates to about SGD769 (USD575) per sqft. Located next to\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\/108708"}],"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=108708"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108708\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}