{"id":110537,"date":"2019-09-06T10:34:06","date_gmt":"2019-09-06T03:34:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-north-gateway-site-attracts-9-bids-2-other-sites-receive-poor-response\/"},"modified":"2019-09-06T11:03:59","modified_gmt":"2019-09-06T04:03:59","slug":"one-north-gateway-site-attracts-9-bids-2-other-sites-receive-poor-response","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-north-gateway-site-attracts-9-bids-2-other-sites-receive-poor-response\/","title":{"rendered":"One-north Gateway site attracts 9 bids, 2 other sites receive poor response"},"content":{"rendered":"


\nHead of research for Singapore at Colliers International attributed the poor response to concerns of increased competition that may arise from the CBD Incentive Scheme unveiled in the URA Draft Master Plan 2019.
\nThe tender results for three sites at Tan Quee Lan Street, Bernam Street and one-north Gateway were all moderate, with the results for the Tan Quee Lan Street site particularly surprising.
\n\u201cIf there was a theme to sum up developers\u2019 mindset from the batch tender results released by the Urban Redevelopment Authority (URA) on 5 September, \u2018safety first\u2019 would be quite apt,\u201d said Tricia Song, head of research for Singapore at Colliers International.
\nShe noted that while the site at Tan Quee Lan was widely anticipated to be hotly contested by developers, \u201cit only attracted two bids which turned out to be a bit of an anti-climax\u201d. A partnership of GuocoLand, Intrepid Investments and Hong Realty submitted the top bid of $800.19 million.
\nSong said the response was surprisingly underwhelming, considering that the nearby Middle Road site received 10 bids.
\n\u201cWe think some developers could have been put off by the hype over the site and expected aggressive bidding for it. In addition, there might be worries about competition from the Middle Road site and the Midtown Bay project.\u201d
\nThe Bernam Street site within the Tanjong Pagar area drew only four bids, with HY Realty offering the top bid of $440.9 million.
\nSong attributed the poor response to concerns of increased competition that may arise from the CBD Incentive Scheme unveiled in the URA Draft Master Plan 2019. The Scheme encourages developers to convert ageing commercial space into residential and mixed-use space.
\nMeanwhile, the one-north Gateway site received nine bids. TID Residential submitted the top bid of $155.74 million.
\n\u201cWe can infer from one-north Gateway\u2019s popularity that size is a major consideration among developers \u2013 this being the site on the confirmed list that could yield the lowest number of potential units (165 units),\u201d said Song.
\nThis means there is a lower risk of not being able to sell-out within the ABSD timeline of five years.
\nThe URA said a decision on the award of the tenders will be made at a later date, after all the bids have been evaluated.
\nWant to find your dream home?\u00a0View our listings\u00a0or our\u00a0reviews\u00a0of other notable projects.\u00a0
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\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…One-north Gateway site attracts 9 bids, 2 other sites receive poor response<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Head of research for Singapore at Colliers International attributed the poor response to concerns of...<\/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-110537","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-sKR","jetpack-related-posts":[{"id":105643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tan-quee-lan-site-to-be-hotly-contested\/","url_meta":{"origin":110537,"position":0},"title":"Tan Quee Lan site to be hotly contested","date":"April 1, 2019","format":false,"excerpt":"\r Located in the heart of Bugis, the 99-year leasehold site is expected to yield up to 580 housing units. An 11,530.9 sq m site at Tan Quee Lan Street was launched for sale on Friday (29 Mar) under the confirmed list of the first half 2019 Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110721,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-awards-tender-for-three-sites\/","url_meta":{"origin":110537,"position":1},"title":"URA awards tender for three sites","date":"September 13, 2019","format":false,"excerpt":"\r The tenders for three sites at Tan Quee Lan Street, Bernam Street and one-north Gateway have been awarded to the highest bidders, revealed the Urban Redevelopment Authority on Thursday. The 11,530.8 sq m site at Tan Quee Lan Street was awarded to a consortium comprising GuocoLand, Intrepid Investments and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bugis-gls-sites-expected-to-be-strongly-contested\/","url_meta":{"origin":110537,"position":2},"title":"Bugis GLS sites expected to be strongly contested","date":"December 3, 2018","format":false,"excerpt":"\r Aerial view of the land parcel at Middle Road. Source: URA The 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. Overall, these four sites can yield\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116529,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-obtains-730mil-green-loan-for-tan-quee-lan-street-mixed-development-project\/","url_meta":{"origin":110537,"position":3},"title":"Guocoland obtains $730mil green loan for Tan Quee Lan Street mixed-development project","date":"May 20, 2020","format":false,"excerpt":"\r The new mixed-development project at Tan Quee Lan Street will be situated right above the Bugis MRT interchange station. Photo: Midtown Bay GuocoLand via its indirect subsidiaries, MTG Apartments and MTG Retail, has secured a $730 million green club loan from DBS Bank, OCBC Bank and ICBC Singapore Branch\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111686,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-surge-90-1-in-q3\/","url_meta":{"origin":110537,"position":4},"title":"Residential investment sales surge 90.1% in Q3","date":"October 18, 2019","format":false,"excerpt":"\r However, residential investment sales for this year is expected to fall 55 percent from last year\u2019s record level, due to a weaker en bloc market.\u00a0 Singapore saw residential investment sales increase 90.1 percent quarter-on-quarter and 4.7 percent year-on-year to $3.1 billion in the third quarter of 2019, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-views-failed-en-bloc-attempt-unsurprising-analysts\/","url_meta":{"origin":110537,"position":5},"title":"Braddell View\u2019s failed en bloc attempt unsurprising, analysts","date":"May 30, 2019","format":false,"excerpt":"\r Analysts attributed the property\u2019s failure to attract bidders to its size and the cooling measures rolled out last July. Launched for collective sale at a record price of $2.08 billion, Braddell View\u2019s failure to receive any bids at the close of its tender came as no surprise to market\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\/110537"}],"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=110537"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110537\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}