{"id":36196,"date":"2016-11-28T11:14:21","date_gmt":"2016-11-28T04:14:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-projects-to-go-en-bloc-in-2017\/"},"modified":"2016-11-28T11:22:07","modified_gmt":"2016-11-28T04:22:07","slug":"more-projects-to-go-en-bloc-in-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-projects-to-go-en-bloc-in-2017\/","title":{"rendered":"More projects to go en bloc in 2017"},"content":{"rendered":"


\nRaintree Gardens was one of the successful en bloc properties this year.
\nMarket watchers expect more residential properties to go en bloc in 2017, following the success of three collective sales this year, reported The Business Times.
\n\u201cNext year, I expect more \u2014 \u00a0and a wider range of \u2014 \u00a0offerings in the market, mainly of small- and medium-sized en blocs, which should find takers among developers who are keen to have a new project to work on, as long as they are realistically priced,\u201d said JLL International Director and Head of Residential Karamjit Singh.
\nNotably, Raintree Gardens in Potong Pasir was acquired by a joint venture (JV) between UOL Group and United Industrial Corporation in October for S$334.2 million, Harbour View Gardens in Pasir Panjang was purchased by Roxy-Pacific Holdings in August for S$33.25 million, and Chinese developer Qingjian Realty bought Shunfu Ville in May for S$638 million.
\nSingh attributed this year\u2019s pick-up in en bloc deals to development site shortage, recovery of residential outlook from negative to neutral-positive, as well as the realistic pricing and strong attributes of en bloc sites offered this year.
\nThe collective sale committee (CSC) for Lakeside Towers in Jurong, for instance, has invited seven legal firms and 14 property consultancies to submit proposals for consultancy services to execute the en bloc sale process. The CSC is now going through the tender submissions, after which they will draft an en bloc sale agreement with a reserve price.
\n\u201cWe reckon that $250 million to $300 million in tender price should be comfortable to a single developer,\u201d said the CSC chairman Simon Lee. With a balance lease of 58 years, the 144-unit project at Yuan Ching Road has a site area of 153,237 sq ft and a plot ratio of 2.1.
\nProjects expected to take the en bloc route by Q1 2017 include the 12-unit Villa D\u2019Este on Dalvey Road in prime District 10, and Cairnhill Mansions in District 9. Other potential collective sale candidates include the 330-unit Eunosville, Rio Casa (a 286-unit privatised HUDC estate at Hougang Avenue 7, Dunearn Court in prime District 11, and One Tree Hill Gardens in District 10.
\n\u00a0
\nCheryl Marie Tay, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories, email cheryl@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…More projects to go en bloc in 2017<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Raintree Gardens was one of the successful en bloc properties this year. Market watchers expect...<\/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-36196","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\/p75ss1-9pO","jetpack-related-posts":[{"id":55083,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-group-jointly-completes-purchase-of-raintree-gardens\/","url_meta":{"origin":36196,"position":0},"title":"UOL Group jointly completes purchase of Raintree Gardens","date":"May 17, 2017","format":false,"excerpt":"\r \u00a0 UOL Group has jointly completed the en bloc acquisition of Raintree Gardens in Potong Pasir with its publicly-listed associate firm United Industrial Corporation, reported The Business time. The collective purchase was carried out by UVD (Projects) Pte Ltd, a joint venture between the aforementioned Singapore-based companies, with each\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28793,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-sold-en-bloc-for-334-2m\/","url_meta":{"origin":36196,"position":1},"title":"Raintree Gardens sold en bloc for $334.2m","date":"October 6, 2016","format":false,"excerpt":"\r The sale price works out to a land cost of about $797 psf per plot ratio on the potential gross floor area. Source: JLL The 175-unit Raintree Gardens residential development at Potong Pasir has been sold collectively to UVD (Projects), a joint venture company of UOL Group and United\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-may-be-up-for-collective-sale\/","url_meta":{"origin":36196,"position":2},"title":"Raintree Gardens may be up for collective sale","date":"August 25, 2016","format":false,"excerpt":"\r The collective sale attempt of Raintree Gardens follows the $638 million sale of Shunfu Ville (pictured) in May. Owners of a privatised former HUDC estate have secured the minimum consent level to put the 175-unit property up for en bloc sale, reported The Straits Times. With just over 70\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24499,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-launched-for-sale-for-at-least-315m\/","url_meta":{"origin":36196,"position":3},"title":"Raintree Gardens launched for sale for at least $315m","date":"August 31, 2016","format":false,"excerpt":"\r The Potong Pasir site could be redeveloped into a 600- to 748-unit waterfront condominium. Source: JLL A 175-unit river-fronting residential development in Potong Pasir was launched for sale on Wednesday (31 August), revealed sole marketing agent JLL. Built in the late 1980s, Raintree Gardens is a former HUDC estate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-projects-in-clementi-potong-pasir-in-next-two-years\/","url_meta":{"origin":36196,"position":4},"title":"UOL to launch new projects in Clementi, Potong Pasir in next two years","date":"November 21, 2016","format":false,"excerpt":"\r The Clement Canopy in Clementi is set to be launched in early 2017. (Photo: URA) Property developer UOL Group is planning to launch two new residential projects in Clementi and Potong Pasir over the next two years, reported Singapore Business Review, citing a report from OCBC Investment Research. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46019,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-down-27-to-287m\/","url_meta":{"origin":36196,"position":5},"title":"UOL net profit down 27% to $287m","date":"February 27, 2017","format":false,"excerpt":"\r Artist\u2019s impression of The Clement Canopy, a new condominium being jointly developed by UOL Group.\u00a0 UOL Group\u2019s net profit for the financial year ended 31 December 2016 fell 27 percent to $287 million from $391 million during the previous year, mainly due to valuation losses on investment properties. Revenue\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\/36196"}],"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=36196"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/36196\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=36196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=36196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=36196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}