{"id":123544,"date":"2021-12-01T04:19:13","date_gmt":"2021-11-30T21:19:13","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-pine-grove-sites-released-for-sale\/"},"modified":"2021-12-01T13:11:54","modified_gmt":"2021-12-01T06:11:54","slug":"two-pine-grove-sites-released-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-pine-grove-sites-released-for-sale\/","title":{"rendered":"Two Pine Grove sites released for sale"},"content":{"rendered":"


\nThe two Pine Grove sites can potentially yield up to 1,085 units\u00a0altogether. Source: URA
\nTwo 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 (GLS) programme, announced the Urban Redevelopment Authority (URA) on Tuesday (30 November).
\nUnder the reserve list system, a site will only be released for sale once it receives an offer of a minimum price which is acceptable to the government. Confirmed list sites, on the other hand, are launched according to schedule regardless of demand.
\nWith an area of 22,534.7 sq m, Parcel A has a maximum gross floor area (GFA) of 47,323 sq m and can yield 520 units. Parcel B, on the other hand, spans 25,039.2 sq m and has a maximum GFA of 52,582 sq m. It can yield 565 units. Both sites come with a 99-year leasehold tenure.
\nTricia Song, Head of Research for Southeast Asia at CBRE expects the sites to draw demand from developers, given their location within a relatively popular residential enclave and palatable size per parcel.
\nKey attractions include proximity to Holland Village, and the one-north precinct. The sites are also near various schools including Henry Park Primary School, National University of Singapore (NUS), Ngee Ann Polytechnic as well as School of Science and Technology Singapore.
\n\u201cWe note that there are dwelling unit caps on both sites to manage traffic demand in the area. Parcel A can be built up to 520 dwelling units or an average 980 sq ft per unit, while Parcel B\u2019s cap is 565 units or an average of 1,002 sq ft per unit,\u201d said Song.
\nThe minimum unit size is slightly larger \u201cthan the implied 85 sq m or 915 sq ft per URA guidelines for non-Landed Residential Developments outside the Central Area in January 2019\u201d, she said.
\n\u201cHowever, given the large combined size of the offering and the consideration of affordability due to the minimum average unit size, we expect the top bid to be more tempered, compared to the most recent tenders of two parcels at Slim Barracks, which have a smaller total quantum of 400 units and had achieved top bids of $1,210 to $1,246 per sq ft per plot ratio (psf ppr).\u201d
\nIf either of the sites is launched for tender, developers may be looking at a selling price of 1,900 to $2,000 psf, with a land rate of $1,000 to $1,100 psf ppr, added Song.
\nMeanwhile, Huttons Asia believes that the chances of the sites being triggered for sale are not high.
\nThis comes as there are \u201cbetter sites on the Confirmed List such as Jalan Tembusu and upcoming en bloc sites which will satiate developer\u2019s appetite for land\u201d, it said.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Two Pine Grove sites released for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The two Pine Grove sites can potentially yield up to 1,085 units\u00a0altogether. Source: URA Two...<\/p>\n","protected":false},"author":1,"featured_media":123545,"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-123544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/PINE-GROVE-URA.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-w8E","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":123544,"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":112728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-residential-sites-at-canberra-drive-launched-for-sale-via-public-tender\/","url_meta":{"origin":123544,"position":1},"title":"2 residential sites at Canberra Drive launched for sale via public tender","date":"November 29, 2019","format":false,"excerpt":"\r The two adjacent sites can yield a total of 675 housing units.\u00a0 Two residential sites (Parcels A and B) at Canberra Drive have been put up for sale via public tender under the confirmed list of the government land sales (GLS) programme for the second half of 2019, announced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122558,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-sites-at-slim-barracks-rise-awarded-to-el-development-gao-xiuhua\/","url_meta":{"origin":123544,"position":2},"title":"Two sites at Slim Barracks Rise awarded to EL Development, Gao Xiuhua","date":"October 13, 2021","format":false,"excerpt":"\r Two sites at Slim Barracks Rise awarded to EL Development, Gao XiuhuaParcel A at Slim Barracks Rise was awarded to EL Development for $320.1 million, while Parcel B was awarded to Gao Xiuhua for $162.4 million. Source: URA The tenders for the two sites at Slim Barracks Rise have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/slim-barracks-parcel-a.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":100762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos\/","url_meta":{"origin":123544,"position":3},"title":"Govt launches three sites yielding 700 ECs, over 1,300 private condos","date":"November 1, 2018","format":false,"excerpt":"\r Aerial view of the white site at Marina View. (Photo: URA) The 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. In particular, the Housing and Development Board\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":123544,"position":4},"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":108520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-3-residential-sites-under-1h2019-gls-programme\/","url_meta":{"origin":123544,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123544"}],"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=123544"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/123545"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=123544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=123544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=123544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}