{"id":27561,"date":"2016-09-28T11:22:49","date_gmt":"2016-09-28T04:22:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/fernvale-road-residential-site-attracts-14-bids\/"},"modified":"2016-09-28T11:29:51","modified_gmt":"2016-09-28T04:29:51","slug":"fernvale-road-residential-site-attracts-14-bids","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fernvale-road-residential-site-attracts-14-bids\/","title":{"rendered":"Fernvale Road residential site attracts 14 bids"},"content":{"rendered":"


\nThe site on Fernvale Road is close to The Seletar Mall.
\nA 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.
\nA consortium between Sing Development and Wee Hur Development submitted the highest bid of S$287.1 million, with China Construction (South Pacific) Development a close second at S$287.09 million. Allgreen Properties offered the third highest bid of S$286.9 million.
\nKingsford Property Development submitted the lowest bid at S$223.23 million.
\nDesmond Sim, CBRE Research Head for Singapore and Southeast Asia, said the cutback in residential sites has positively reduced unsold stock, whetting the appetite of developers.
\n\u201cThis is reflected in the number of bids for this Fernvale plot, bolstered by the success of High Park Residences and coupled with the fact that the Perumal Road site is probably the only site left for sale for 2016,\u201d he said.
\nMap showing the sale site at Fernvale Road. Source: URA
\nIn fact, the top three bids are extremely close, with a mere 0.007 percent difference between the top and third bid.
\n\u201cThis is an indication that these bidders share similar views on (the) pricing of the projects, as well as construction cost control,\u201d he said. \u201cBeing able to control costs is a major factor, particularly for the top two bidders, as they are developers with a construction arm and would have come to terms with the costs associated with the PPVC (prefabricated prefinished volumetric construction) projects,\u201d added Sim.
\nLaunched on 16 August 2016, the 17,195.9 sq m site can yield 605 housing units. Looking ahead, Sim expects more residential sites to be released in the next Government Land Sales (GLS) sales programme to prevent land bids from escalating.
\n\u00a0
\nCheryl Marie Tay, Senior Journalist\u00a0at PropertyGuru, edited this story. To contact her\u00a0about this or other stories, email cheryl@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Fernvale Road residential site attracts 14 bids<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The site on Fernvale Road is close to The Seletar Mall. A 99-year leasehold residential...<\/p>\n","protected":false},"author":1,"featured_media":27562,"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-27561","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\/2016\/09\/Fernvale-Road-site.jpg?fit=470%2C457&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7ax","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":27561,"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":114864,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-awards-tender-for-fernvale-lane-ec-site-to-frasers-property\/","url_meta":{"origin":27561,"position":1},"title":"HDB awards tender for Fernvale Lane EC site to Frasers Property","date":"March 12, 2020","format":false,"excerpt":"\r Here\u2019s why the site is one to watch. Photo: Google The Housing and Development Board has awarded the tender for an executive condominium (EC) site at Fernvale Lane to Frasers Property, or FCL Lodge Pte Ltd, after it submitted the highest bid of $286.5 million. Launched for sale on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27445,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tender-for-singapores-coveted-fernvale-road-site-has-been-won\/","url_meta":{"origin":27561,"position":2},"title":"The tender for Singapore\u2019s coveted Fernvale Road site has been won","date":"September 27, 2016","format":false,"excerpt":"\r So which developer paid USD211.27 million for the 17,196-sqm parcel? Public housing residential blocks at Sengkang in Singapore. Blue sky during sunrise. diyben \/ Shutterstock The 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-botania-to-boost-sing-holdings\/","url_meta":{"origin":27561,"position":3},"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":8230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/riverbank-fernvale-an-unbeatable-choice\/","url_meta":{"origin":27561,"position":4},"title":"Riverbank @ Fernvale \u2013 an unbeatable choice","date":"February 26, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the Riverbank @ Fernvale condo. Source: UOL Group\u00a0 Special Advertising Feature A convenient location coupled with a slew of outstanding facilities, UOL Group Limited\u2019s residential project Riverbank @ Fernvale is hitting all the right notes with home buyers and investors alike. These days, when it comes\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":27561,"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\/27561"}],"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=27561"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/27562"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}