{"id":27445,"date":"2016-09-27T19:12:35","date_gmt":"2016-09-27T12:12:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tender-for-singapores-coveted-fernvale-road-site-has-been-won\/"},"modified":"2016-09-27T19:21:16","modified_gmt":"2016-09-27T12:21:16","slug":"the-tender-for-singapores-coveted-fernvale-road-site-has-been-won","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tender-for-singapores-coveted-fernvale-road-site-has-been-won\/","title":{"rendered":"The tender for Singapore\u2019s coveted Fernvale Road site has been won"},"content":{"rendered":"


\nSo which developer paid USD211.27 million for the 17,196-sqm parcel?
\nPublic housing residential blocks at Sengkang in Singapore. Blue sky during sunrise. diyben \/ Shutterstock
\nThe bidding war over a land parcel in Fernvale Road in Singapore\u00a0came to an today with\u00a0Sing Development and Wee Hur Development narrowly beating the competition for one of four land parcels up for grabs under the H2 Government Land Sales programme. The companies edged out competitors with\u00a0an insurmountable bid of SGD287.1 million (USD211.27 million), translating to SGD517.03 (USD380.48) per square foot per plot ratio, The Business Times reported, citing provisional tender results released by the Urban Redevelopment Authority.
\nSing Development and Wee Hur Development\u2019s bid exceeds earlier projections for the 99-year-old leasehold site, which ranged from SGD244 million (USD181 million) to SGD272 million (USD202 million).
\nMore: Singapore home prices remain depressed
\nChina Construction (South Pacific) Development Co. almost clobbered the competition with a runner-up bid of SGD287.09 million (USD211.26 million) or SGD517.00 (USD380.47) psf ppr.
\nThe number of bidders also overshot previous expectations, with 14 property developers participating. Bidders included Allgreen Properties, Chip Eng Seng Corp, Hong Leong Holdings (with City Developments and TID Residential), MCL Land, Nanshan Group Singapore, Qingjian Realty, Sim Lian Land, and Singhaiyi Investments.
\nKingsford Property Development placed the lowest bid at SGD223.23 million (USD164.26 million), which translates to SGD402 (USD295.84) psf ppr.
\nThe parcel covers 17,196 square metres in a strategic area near the Thanggam LRT station, Sengkang Riverside Park, and The Seletar Mall, according to a report by Straits Times. The tract of land could yield about 605 private units.
\nRead next: It\u2019s official: Singapore, Seoul ranked Asia\u2019s most sustainable cities
\n
\nSource : property-report.com
\nRead more…The tender for Singapore\u2019s coveted Fernvale Road site has been won<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

So which developer paid USD211.27 million for the 17,196-sqm parcel? Public housing residential blocks at...<\/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-27445","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\/p75ss1-78F","jetpack-related-posts":[{"id":114700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-closes-tender-for-canberra-drive-and-fernvale-lane-sites\/","url_meta":{"origin":27445,"position":0},"title":"URA closes tender for Canberra Drive and Fernvale Lane sites","date":"March 4, 2020","format":false,"excerpt":"\r Parcels A and B received five and four bids respectively, while the EC site at Ferndale Lane was hotly-contested, with seven bids. The tender for two private residential sites in Canberra Drive (Parcels A and B) and an executive condominium (EC) site in Fernvale Lane closed on Tuesday (3\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27561,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fernvale-road-residential-site-attracts-14-bids\/","url_meta":{"origin":27445,"position":1},"title":"Fernvale Road residential site attracts 14 bids","date":"September 28, 2016","format":false,"excerpt":"\r The site on Fernvale Road is close to The Seletar Mall. A 99-year leasehold residential site at Fernvale Road received robust interest during the close of its tender on Tuesday (27 September), with 14 developers bidding for the site. A consortium between Sing Development and Wee Hur Development submitted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/09\/Fernvale-Road-site.jpg?fit=470%2C457&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":65386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-botania-to-boost-sing-holdings\/","url_meta":{"origin":27445,"position":2},"title":"Parc Botania to boost Sing Holdings","date":"September 4, 2017","format":false,"excerpt":"\r Map showing the location of Parc Botania at Fernvale Road. Source: URA KGI Securities expects Parc Botania, a 735-unit private residential project at Fernvale Road in Sengkang, to boost Sing Holdings\u2019 profit, reported Singapore Business Review. This comes as the project is expected to sell well at its upcoming\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37324,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-upcoming-projects-to-look-out-for-in-2017\/","url_meta":{"origin":27445,"position":3},"title":"7 upcoming projects to look out for in 2017","date":"December 7, 2016","format":false,"excerpt":"\r Aerial view of the Clementi Avenue 1 site. Source: URA A slew of new residential projects are set to launch next year, and are expected to attract keen interest from home buyers. Some sites to watch out for are: 1) Siglap Road The 1.93ha site at Siglap Road was\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23173,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-in-singapore-are-fighting-over-this-plot-of-land\/","url_meta":{"origin":27445,"position":4},"title":"Developers in Singapore are fighting over this plot of land","date":"August 17, 2016","format":false,"excerpt":"\r Competition is expected to be fierce for this government tender Stunning Singapore at night. Image credit: aotaro (Flickr) Singapore has opened up a highly coveted site around Fernvale Road for tender, in the first of four land parcels up for grabs under the Government Land Sales programme for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72656,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eye-on-fernvale-the-new-kid-on-the-block\/","url_meta":{"origin":27445,"position":5},"title":"Eye on Fernvale: The new kid on the block","date":"November 23, 2017","format":false,"excerpt":"\r View of the Thanggam LRT station in Fernvale. (Photo: Christopher Chitty) Fernvale is the Sengkang area\u2019s newest neighbourhood, and it shows.\u00a0 By Joanne Poh Pristine new HDB flats reach for the sky, and the new Seletar Mall, opened just three years ago, proudly boasts the very first cineplex in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/Eye-on-Fernvale-1024x275.png?fit=1024%2C275&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27445"}],"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=27445"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27445\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}