{"id":122149,"date":"2021-09-22T02:47:41","date_gmt":"2021-09-21T19:47:41","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-view-white-site-attracts-one-bid\/"},"modified":"2021-09-22T11:07:00","modified_gmt":"2021-09-22T04:07:00","slug":"marina-view-white-site-attracts-one-bid","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-view-white-site-attracts-one-bid\/","title":{"rendered":"Marina View white site attracts one bid"},"content":{"rendered":"


\nAnalysts attributed the lacklustre interest to the high price of the land and uncertainties over the CBD office and hotel sectors.\u00a0
\nThe tender for the white site at Marina View closed on Tuesday (21 September), with Boulevard View emerging as the sole bidder for the 99-year leasehold site.
\nIn a release, the Urban Redevelopment Authority (URA) said: \u201cThis is not an announcement of tender award. A decision on the award of the tender will be made after the bid has been evaluated. This will be publicised at a later date.\u201d
\nAnalysts noted that Boulevard View\u2019s bid of $1.508 billion or $1,379 per sq ft per plot ratio (psf ppr) is the same bid price that triggered the site to be released from the Government Land Sales (GLS) programme\u2019s Reserve List.
\nThe 7,817.6 site is intended for mixed-use development with hotel, residential, commercial and\/or serviced apartments. It can yield 905 private residential units, 540 hotel rooms and 2,000 sq m in gross floor area (GFA) of commercial space.
\nHuttons Asia CEO Mark Yip said it is the first tender to draw only one bidder since the Circuit Breaker.
\n\u201cThe last time a GLS tender saw one bidder was for a site at Silat Avenue in 2018,\u201d he added.
\nTricia Song, Head of Research for Southeast Asia at CBRE, said the sole bid for the site is in stark contrast to the competitive bidding seen in the five suburban or city fringe residential sites.
\nThese include Tampines Street 62, Lentor Central, Ang Mo Kio Ave 1, Tengah Garden EC and Northumberland sites, which attracted seven to 15 bids each with bid prices exceeding expectations.
\nSong attributed the lacklustre interest for the site to \u201cthe large quantum of over $1.5 billion land cost, near-term uncertainties over the CBD office and hotel sectors, and competition from projects that are unsold and potential new supply from redevelopments in the area\u201d.
\nWith land tenders within the Outside Central Region (OCR) reaching $1,204 psf ppr and International Plaza going en bloc for $2,170 psf ppr, Yip noted that Boulevard View\u2019s $1,379 psf ppr bid appears to be on the low side, which may be viewed as opportunistic by the Government.
\nAnd since there is no other bidder for the site, this gives the Government another reason not to award the site, he said.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Marina View white site attracts one bid<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts attributed the lacklustre interest to the high price of the land and uncertainties over...<\/p>\n","protected":false},"author":1,"featured_media":122150,"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-122149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/URA-launches-tender-for-the-White-site-at-Marina-View.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vM9","jetpack-related-posts":[{"id":22698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/highly-anticipated-white-site-in-marina-bay-triggered-for-sale\/","url_meta":{"origin":122149,"position":0},"title":"Highly anticipated white site in Marina Bay triggered for sale","date":"August 12, 2016","format":false,"excerpt":"\r Map showing the location of the white site. Source: URA A white site within the Marina Bay area that was on the reserve list of the second half 2016 Government Land Sales (GLS) Programme has been triggered for sale, after an unnamed developer committed to a minimum bid of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/Aerial-view-of-Central-Boulevard-site.jpg?fit=510%2C732&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":33528,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-bay-site-attracts-top-bid-of-2-6-billion\/","url_meta":{"origin":122149,"position":1},"title":"Marina Bay site attracts top bid of $2.6 billion","date":"November 8, 2016","format":false,"excerpt":"\r Map showing the location of the white site. Source: URA The tender for a 1.1ha white site at Central Boulevard in Marina Bay closed on Tuesday (8 November) after attracting seven bids, said the Urban Redevelopment Authority (URA). This is more than the two to three bids received for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/11\/Aerial-view-of-Central-Boulevard-site.jpg?fit=510%2C732&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":24366,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-bay-white-site-launched-for-sale\/","url_meta":{"origin":122149,"position":2},"title":"Marina Bay white site launched for sale","date":"August 30, 2016","format":false,"excerpt":"\r Map showing the location of the white site. Source: URA A 1.1ha white site along Central Boulevard in Marina Bay was launched for sale by the Urban Redevelopment Authority (URA) on Tuesday (30 August), after a Chinese developer reportedly triggered its release earlier this month. Although the identity of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/08\/Aerial-view-of-Central-Boulevard-site-1.jpg?fit=510%2C732&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":33709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-bay-site-attracts-top-bid-of-usd2-6-billion\/","url_meta":{"origin":122149,"position":3},"title":"Marina Bay site attracts top bid of USD2.6 billion","date":"November 10, 2016","format":false,"excerpt":"\r Likely for a full office development SAHACHATZ\/Shutterstock The tender for a 1.1ha white site at Central Boulevard in Marina Bay closed on Tuesday (8 November) after attracting seven bids, said the Urban Redevelopment Authority (URA). This is more than the two to three bids received for the adjacent Asia\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120593,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/white-site-at-marina-view-launched-for-sale\/","url_meta":{"origin":122149,"position":4},"title":"White site at Marina View launched for sale","date":"June 29, 2021","format":false,"excerpt":"\r The Marina View site is 7,817.6 sq m and is expected to yield 905 housing units, 540 hotel rooms and 2,000 sq m in gross floor area (GFA) of commercial space.\u00a0Source: URA The\u00a0White site at Marina View has been launched for sale, and a developer has committed to bid\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/06\/URA-launches-tender-for-the-White-site-at-Marina-View.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":40195,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perumal-road-site-attracts-174m-top-bid\/","url_meta":{"origin":122149,"position":5},"title":"Perumal Road site attracts $174m top bid","date":"January 10, 2017","format":false,"excerpt":"\r Aerial view of the land parcel at Perumal Road. (Photo: URA) A residential with first storey commercial site at Perumal Road in Litte India attracted strong interest from developers, with 11 bids submitted at the close of its public tender on Tuesday (10 February), revealed the Urban Redevelopment Authority\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\/122149"}],"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=122149"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122149\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/122150"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=122149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=122149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=122149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}