{"id":37204,"date":"2016-12-06T17:32:56","date_gmt":"2016-12-06T10:32:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-receives-14-bids-for-margaret-drive-site\/"},"modified":"2016-12-06T17:43:32","modified_gmt":"2016-12-06T10:43:32","slug":"ura-receives-14-bids-for-margaret-drive-site","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-receives-14-bids-for-margaret-drive-site\/","title":{"rendered":"URA receives 14 bids for Margaret Drive site"},"content":{"rendered":"


\nThe 0.48ha site is within proximity to two MRT stations. Source: URA
\nThe tender for a residential site at Margaret Drive in Queenstown closed on Tuesday (6 December) after attracting 14 bids from developers, said the Urban Redevelopment Authority (URA).
\nMCL Land (Regency) submitted the top bid of $238.39 million for the 0.48ha site. The price works out to about $998 psf on the gross floor area.
\nAllgreen Properties had the second-highest bid of $220.9 million, while the lowest bid of $193.88 million came from CEL Real Estate Development.
\nThe 99-year leasehold site was launched for public tender on 10 November 2016. It was originally on the reserve list of the second half 2016 Government Land Sales (GLS) Programme, but was triggered for sale after an unnamed developer committed a minimum bid of $185.758 million that was acceptable to the government.
\nThe site is expected to yield about 275 units. Two MRT stations (Commonwealth and Queenstown), churches, schools and a public library are located within the vicinity.
\nA decision on the award of the tender will be made after the bids have been evaluated, said the URA.
\nSource: URA
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…URA receives 14 bids for Margaret Drive site<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 0.48ha site is within proximity to two MRT stations. Source: URA The tender for...<\/p>\n","protected":false},"author":1,"featured_media":37205,"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-37204","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\/12\/Margaret-Drive-land-parcel.jpg?fit=530%2C157&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9G4","jetpack-related-posts":[{"id":37805,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mcl-land-wins-bid-for-margaret-drive-site\/","url_meta":{"origin":37204,"position":0},"title":"MCL Land wins bid for Margaret Drive site","date":"December 12, 2016","format":false,"excerpt":"\r The 0.48ha site is located close to the Commonwealth MRT station, shopping malls and schools. Source: URA The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Margaret Drive in Queenstown to MCL Land (Regency), after the developer submitted the highest bid of $238.39 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51526,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-launch-tender-for-queenstown-reserve-list-site\/","url_meta":{"origin":37204,"position":1},"title":"URA to launch tender for Queenstown reserve list site","date":"April 11, 2017","format":false,"excerpt":"\r The site at Stirling Road was triggered for sale after a developer committed to a minimum bid of $685,250,000. (Photo: URA) The Urban Redevelopment Authority (URA) announced yesterday that it accepted an application from a developer to put up a residential site at Stirling Road in Queenstown for sale\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-sale-of-margaret-drive-site\/","url_meta":{"origin":37204,"position":2},"title":"URA launches sale of Margaret Drive site","date":"November 11, 2016","format":false,"excerpt":"\r A developer committed to a minimum bid of about $185.76 million for the 0.48ha site in Queenstown. Source: URA A 0.48ha residential site at Margaret Drive in Queenstown was launched for sale by public tender on Thursday (10 November) by the Urban Redevelopment Authority (URA). Released under the reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-closes-tender-for-canberra-drive-and-fernvale-lane-sites\/","url_meta":{"origin":37204,"position":3},"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":32917,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margaret-drive-reserve-list-site-triggered-for-sale\/","url_meta":{"origin":37204,"position":4},"title":"Margaret Drive reserve list site triggered for sale","date":"November 4, 2016","format":false,"excerpt":"\r A developer committed to a minimum bid of about $185.76 million for the 0.48ha site in Queenstown. Source: URA A 0.48ha reserve list site at Margaret Drive in Queenstown has been triggered for sale, after a developer committed to a minimum bid of about $185.76 million in the public\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55249,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-jointly-bid-over-1-billion-for-queenstown-site\/","url_meta":{"origin":37204,"position":5},"title":"Foreign developers jointly bid over $1 billion for Queenstown site","date":"May 18, 2017","format":false,"excerpt":"\r The top bid of just over $1 billion for the Stirling Road site translates to a land price of about $1,050 psf. (Photo: URA) The tender for a 2.11ha residential site at Stirling Road in Queenstown attracted substantial interest from developers, with a total of 13 bullish bids submitted\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\/37204"}],"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=37204"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/37204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/37205"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=37204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=37204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=37204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}