{"id":125800,"date":"2022-04-12T02:26:17","date_gmt":"2022-04-11T19:26:17","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-bto-projects-face-further-delays-ang-mo-kio-site-picked-for-sers-offers-significant-redevelopment-potential-and-more\/"},"modified":"2022-04-12T10:41:35","modified_gmt":"2022-04-12T03:41:35","slug":"three-bto-projects-face-further-delays-ang-mo-kio-site-picked-for-sers-offers-significant-redevelopment-potential-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-bto-projects-face-further-delays-ang-mo-kio-site-picked-for-sers-offers-significant-redevelopment-potential-and-more\/","title":{"rendered":"Three BTO projects face further delays, Ang Mo Kio site picked for SERS offers \u2018significant\u2019 redevelopment potential and more"},"content":{"rendered":"


\nThree BTO projects face further delays, Ang Mo Kio site picked for SERS offers \u2018significant\u2019 redevelopment potential and more5th April to 11th April 2022
\nThe Housing and Development Board (HDB) informed flat buyers at three Build-to-Order (BTO) projects that the completion of their homes would be further delayed. Analysts see significant redevelopment potential in the Ang Mo Kio site which has been identified for the Selective En-bloc Redevelopment Scheme (SERS) by the HDB.
\n\u00a0
\n1) Three BTO projects face further delays
\nFlat buyers at three\u00a0BTO projects\u00a0were frustrated upon knowing that the completion of their homes faced further delays just months before they were due to be completed, reported The Straits Times.
\nBuyers at BTO projects Tampines GreenCourt, Woodleigh Hillside and Clementi NorthArc were expecting to move into their new flats by Q3 2022. But with the fresh delays, they now have to wait for three to six more months for their new homes.
\nHDB\u00a0attributed the fresh delays to the disruptions in construction activity during the circuit breaker period, Malaysia\u2019s two-year closure of borders and the tightening of border controls for South Asia workers last year.
\nRelated article:\u00a0HDB BTO Prices Sorted by Estate and Price of Rooms in Singapore (from 2019 to Feb 2022)
\n\u201cDespite the best efforts put in by HDB and our project partners, our latest assessment with less than a year to go to the current completion date of the project, is that there will unfortunately be a further delay to the project,\u201d said HDB in its e-mail to buyers.
\nThe pandemic-induced BTO construction delays, brought on partly by a lack of manpower, have resulted in\u00a0rising prices for the rental and HDB resale\u00a0markets.\u00a0Some affected buyers have cancelled their BTO flats and bought\u00a0HDB resale flats, while those unwilling to wait out long construction times have decided to go with completed properties instead.
\nStill holding out for a BTO flat? Here are some articles on the upcoming May 2022 and August 2022 launches:<\/p>\n

May 2022 HDB BTO Launch Review: Bukit Merah, Jurong West, Queenstown, Toa Payoh, Yishun
\nHDB BTO August 2022: The 6 Announced Estates and Where We Hope the BTOs Will Be
\nHDB BTO Application Rate (From 2020 to Now): Which Estates Are The Easiest To Get BTO in<\/p>\n

\u00a0
\n2) Ang Mo Kio site picked for SERS offers \u2018significant\u2019 redevelopment potential
\nSite of Ang Mo Kio Ave 3 HDB blocks selected for SERS. Source: HDB
\nAnalysts see significant redevelopment potential in the Ang Mo Kio site which has been identified for the Selective En-bloc Redevelopment Scheme (SERS) by the HDB, the first such announcement in four years reported Channel News Asia.
\n\u201cWell-located\u201d beside the Central Expressway, the site is near the upcoming Tavistock MRT station, noted Christine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie.
\n\u201cIt is also situated near the landed properties at Serangoon Gardens. Therefore any new high rise buildings will enjoy good views due to the low rise landed housing,\u201d she said.
\nRelated article:\u00a0Cheapest Landed Property in Singapore: 5 Properties Under 2 Million You Can Buy (2022)
\nIn fact, she expects the site to be redeveloped into a few tall blocks that may even be integrated development.
\n\u201cI think 36 storeys is the maximum. So I think there\u2019s still a lot of room for it to be redeveloped into either newer developments, newer public housing developments or private housing developments,\u201d said Dr Lee Nai Jia, Deputy Director at the Institute of Real Estate and Urban Studies (IREUS).
\nThe site is near the future Tavistock MRT station on the Cross Island Line as well as\u00a0choice primary schools, such as Rosyth School and Zhonghua Primary School, so\u00a0families with young\u00a0children might be attracted to buy a home in the area so as to enrol their children in these schools. In addition, the nearby Ang Mo Kio Town Garden East park also offers residents access to greenery.
\nRelated article:\u00a0Nature Parks in Singapore: Condominiums near 7 Popular Green Spaces to Live in (2021)
\n\u00a0
\n3) Haig Road flats sold en-bloc for $49.3mil
\nA freehold residential site comprising a four-storey block with 24 apartment units in Haig Road has been sold en-bloc for $49.3 million or $1,286 per sq ft per plot ratio (psf ppr) to Nanshan Group, revealed marketing agent Colliers.
\nNanshan Group developed projects such as Stirling Residences and Thomson Impressions.
\nWith an area of 27,389 sq ft, the site is zoned for residential use under the 2019 Master Plan with a gross plot ratio of 1.4.
\nColliers noted that the sale price is higher than the $48 million asking price of the owners and that no development charge is payable. It added that the sale is subject to the Strata Titles Board\u2019s approval.
\nLocated close to the iconic Katong Shopping Centre, the site is also about 10 minutes commute to the future Marine Parade MRT station on the Thomson East Coast\u00a0Line. Haig Girls\u2019 School and Tanjong Katong Primary School are within 1km to 2km away.\u00a0
\n\u00a0
\n4) International Plaza relaunched for sale, price unchanged at $2.7bil
\nInternational Plaza at Anson Road. Source: CBRE
\nInternational Plaza has been relaunched for collective sale with the reserve price unchanged at $2.7 billion, revealed sole marketing agent Edmund Tie and Company.
\nLocated at the junction of Choon Guan Street and Anson Road, the development occupies a 75,089 sq ft site that is zoned for \u201cCommercial\u201d use under the 2019 Master Plan with a plot ratio of 10.5 as well as a building height control of up to 250m.
\n\u201cAt a reserve price of $2.7 billion, the site reflects a land rate of approximately $2,448 per sq ft per plot ratio (psf ppr), based on its existing plot ratio of 19.24 and inclusive of differential premium and lease upgrading premium to top up the lease to 99 years,\u201d said Edmund Tie.
\nThe tender for International Plaza closes on 29 April.
\n\u00a0
\n5) Property owners reminded to secure SCDF approval before changing the use of their premises
\nThe Singapore Civil Defence Force (SCDF) has reminded property owners and occupiers to secure its approval if they want to change the use of their premises.
\nIt revealed that four property owners or occupiers have been fined last year for changing the use of vehicle parking areas on their premises without prior SCDF approval.
\n\u201cCourt action was taken against them as responsible entities as these were serious cases and they were fined between $3,500 to $4,000,\u201d said the force.
\nSCDF explained that it takes a very serious view of the unauthorised change of use since it is a major safety violation that increases fire risk as well as hinders emergency escape routes, placing lives in danger during a fire outbreak.
\nFor this reason, we need to consider fire safety aspects, particularly when temporary structures are set up, and also ensure\u00a0existing emergency measures are adequate for the protection of the public using the premises.
\nRelated article:\u00a0Do You Need a Fire Extinguisher at Home?
\n\u00a0
\n6) Kensington Park condo may go en-bloc once again
\nKensington Park Condominium. Source: Google Maps
\nOwners at Kensington Park Condominium are once again trying their luck at a collective sale, almost four years after their previous attempt, reported The Business Times.
\nThe development\u2019s unit owners attempted to put the property up for en bloc sale for $1.05 billion in 2018. However, the rollout of a slew of property cooling measures introduced\u00a0in July of that year slowed the collective sale momentum.
\nIn this latest attempt, at least 80% of the owners have agreed to the potential sale, with CBRE believed to be\u00a0the marketing agent. There is no indication yet on whether and when a tender would be launched.
\nAnd while the reserve price has not been confirmed, some unit owners and consultants believe that it would be in the region of the previous price tag.
\nLocated at Kensington Park Drive; the 314-unit development occupies a 999-year tenure site that is zoned for residential use under the 2019 Master Plan with a gross plot ratio of 2.1.
\n\u00a0
\nOther notable condominiums which were put up for collective sale\/en bloc in the last month include Lakeside Apartments for $240 million, Chuan Park for $938 million, and High Point\u00a0for $550 million.\u00a0
\n\u00a0
\n7) IREUS sees no relation between Singapore property firms\u2019 ESG score, financial success
\nA study by the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore showed that a high score on environmental, social and governance (ESG) metrics does not necessarily mean that a property firm enjoys higher returns, reported The Business Times.
\nNotably, the research institute studied ESG scores calculated by financial markets data as well as infrastructure provider Refinitiv for Singapore-listed firms within the real estate sector.\u00a0
\n\u201cThe seeming lack of relationship between ESG grades and returns in the 2021 snapshot may imply that investors that are myopic and have a short investment horizon may still go for firms with a low ESG grade but strong financial performance,\u201d said IREUS deputy director Lee Nai Jia.
\nHe explained that some firms may be performing well financially but have lower ESG scores due to a lack of green ratings for their assets. Moreover, the region in which they invest may not have a widely recognised rating system.
\nHaving high ESG values may not bring immediate profits, but they likely attract businesses and companies that share the same values as they do, and ultimately the employees who work for them share the same values.
\n\u00a0
\n8) Singapore property market remains \u2018in balance\u2019, says RHB
\nBanking firm RHB believes the property market in Singapore continues to be in balance since the limited inventory levels and the boost from the economy\u2019s reopening are offset by risks of higher taxes, rising interest rates and the Russia-Ukraine conflict, reported Singapore Business Review.
\nIt explained that while it expects the reopening measures and easing of border restrictions to revive demand from foreign buyers as well as ramp up investor confidence, it does believe that such factors would be significant enough to cause any upward pressure on property prices.
\nIn fact, RHB expects volumes in March to be lower by 40% from the previous year due to the absence of big new launches.
\nFor the whole of 2022, the bank expects primary sales volume to decline 30% to 40% to 8,000 to 9,000 units amid the lower launch pipeline as well as the cooling measures.
\nAs interest rates rise, this tends to put downward pressure on demand for real estate since debt becomes more expensive. Consequently, this\u00a0could possibly put downward pressure on asset prices.
\nFor\u00a0more property insights, read our\u00a0Singapore Property Market Report Q1 2022.
\n\u00a0
\n9) National Aerated Water Building relaunched for sale for $18.9mil
\nNational Aerated Water Company. Source: Savills Singapore
\nThe National Aerated Water Building has been relaunched for sale via expression of interest (EOI), with an indicative price of $18.9 million, revealed marketing agent CBRE.
\nGazetted for conservation in 2017 by the Urban Redevelopment Authority, the two-storey commercial building at 1177 Serangoon Road comprises three strata-titled units with a total area of about 6,555 sq ft. Its ground floor retail unit has a permanent \u201cRestaurant\u201d approval, while the second floor is fully leased to a student care operator.
\nClemence Lee, CBRE\u2019s Executive Director of Capital Markets for Singapore, noted that the freehold property was first launched for sale in August 2021, during which it received a handful of bids, but none were up to the owner\u2019s expectations.
\nThe EOI exercise for the property closes on 11 May.
\n\u00a0
\n10) Industrial leasing activity up 4.9% year-on-year in Q1
\nSingapore\u2019s industrial market saw leasing activity increase 4.9% year-on-year in January and February 2022, reported Knight Frank.
\nIt noted that strata industrial space continued to be popular among businesses due to its palatable price quantum.
\n\u201cWhile demand for such space remains healthy, the pace of leasing movements slowed,\u201d said Daniel Ding, Head of Capital Markets at Knight Frank Singapore.
\nTenancies in the multiple-user factory segment declined 0.4% year-on-year to 1,557 during the first two months of 2022.
\nLooking ahead, Knight Frank sees manufacturers becoming cautious when considering expansion activities as external forces exacerbate the global semiconductor supply crunch.
\n\u201cHowever, as e-commerce has proven sustainable, especially in this day and age where economies are steadily progressing towards being digital, the demand for logistics and warehouse space is expected to remain stable,\u201d said Ding.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nBenjamin Su, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0benjaminsu@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Three BTO projects face further delays, Ang Mo Kio site picked for SERS offers \u2018significant\u2019 redevelopment potential and more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Three BTO projects face further delays, Ang Mo Kio site picked for SERS offers \u2018significant\u2019...<\/p>\n","protected":false},"author":1,"featured_media":125801,"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-125800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/04\/Yishun-Boardwalk-hdb.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-wJ2","jetpack-related-posts":[{"id":128536,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orto-leisure-park-ground-up-initiative-in-yishun-to-make-way-for-housing-ang-mo-kio-sers-residents-now-allowed-to-apply-for-bto-flat-in-same-estate-and-more\/","url_meta":{"origin":125800,"position":0},"title":"ORTO leisure park, Ground-Up Initiative in Yishun to make way for housing, Ang Mo Kio SERS residents now allowed to apply for BTO flat in same estate and more","date":"August 8, 2022","format":false,"excerpt":"\r ORTO leisure park, Ground-Up Initiative in Yishun to make way for housing, Ang Mo Kio SERS residents now allowed to apply for BTO flat in same estate and more2nd August to 8th\u00a0August 2022 Two state land tenants in Yishun \u2013 ORTO leisure park and non-profit Ground-Up Initiative (GUI) \u2013\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/08\/cover-image-for-news-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":121074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-demand-for-new-flats-in-mature-estates-may-boost-resale-prices\/","url_meta":{"origin":125800,"position":1},"title":"Strong demand for new flats in mature estates may boost resale prices","date":"July 26, 2021","format":false,"excerpt":"\r Strong demand for new flats in mature estates may boost resale pricesHowever, the popularity of public housing within mature estates is apparent for BTO flats only. The top five neighbourhoods for resale flats were a mixture of mature and non-mature estates. Some property experts believe the strong demand for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/New-HDB-flats-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":127407,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/40-of-bto-applicants-invited-to-book-a-flat-declined-offer-more-buyers-turn-to-hdb-housing-loans-amid-hikes-in-bank-rates-and-more\/","url_meta":{"origin":125800,"position":2},"title":"40% of BTO applicants invited to book a flat declined offer, More buyers turn to HDB housing loans amid hikes in bank rates and more","date":"June 28, 2022","format":false,"excerpt":"\r 40% of BTO applicants invited to book a flat declined offer, More buyers turn to HDB housing loans amid hikes in bank rates and more21st June to 27th June 2022 About 40% of applicants who were invited by the Housing and Development Board (HDB) to book a Build-to-Order (BTO)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/06\/singapore-skyline-hdb-flat.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":112490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/robust-interest-for-larger-bto-flats-in-ang-mo-kio-tampines\/","url_meta":{"origin":125800,"position":3},"title":"Robust interest for larger BTO flats in Ang Mo Kio, Tampines","date":"November 20, 2019","format":false,"excerpt":"\r Competition for Tengah\u2019s bigger flats, however, was sparse. Image: HDB Bigger Build-to-Order (BTO) flats within the mature estates of Tampines and Ang Mo Kio proved to be a hit among homebuyers at a Housing and Development Board (HDB) sales exercise that ended on Monday (18 November), while smaller units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-launches-8170-flats-in-november-sales-exercise\/","url_meta":{"origin":125800,"position":4},"title":"HDB launches 8,170 flats in November sales exercise","date":"November 12, 2019","format":false,"excerpt":"\r This includes 4,571 BTO flats in Tengah, Ang Mo Kio and Tampines, as well as 3,599 flats under the Sale of Balance Flats scheme within mature and non-mature estates, like Bishan and Clementi. Image: HDB The Housing and Development Board (HDB) launched 8,170 flats for sale in the year\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112324,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ang-mo-kio-bto-flats-expected-to-be-most-sought-after\/","url_meta":{"origin":125800,"position":5},"title":"Ang Mo Kio BTO flats expected to be most sought after","date":"November 13, 2019","format":false,"excerpt":"\r The project\u2019s proximity to two MRT lines is seen as the main attractive points.\u00a0 The 450 units in Ang Mo Kio are expected to be the most sought after in the latest Build-To-Order (BTO) sales exercise as they are the first flats to be launched within the mature estate\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\/125800"}],"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=125800"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/125800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/125801"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=125800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=125800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=125800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}