{"id":52468,"date":"2017-04-21T10:23:54","date_gmt":"2017-04-21T03:23:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-2-housing-sites-for-sale\/"},"modified":"2017-04-21T10:49:59","modified_gmt":"2017-04-21T03:49:59","slug":"ura-launches-2-housing-sites-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-2-housing-sites-for-sale\/","title":{"rendered":"URA launches 2 housing sites for sale"},"content":{"rendered":"


\nTwo housing sites at Stirling Road and Lorong 1 Realty Park were launched for sale by public tender by the Urban Redevelopment Authority (URA) on Thursday (21 April).
\nOffered on a 99-year leasehold tenure, both sites can potentially yield about 1,160 units.
\nThe 21,109.5 sq m plot at Stirling Road is zoned for residential. It has a maximum gross floor area (GFA) 88,660 sq m and 1,110 flats are expected to be built there.
\nOriginally, this site was released for sale as two smaller adjacent plots in March 2010, but these were subsequently combined and offered as a single parcel via the 1H 2012 Reserve List. It was triggered for sale after URA announced on 10 April 2017 that a developer has committed to a minimum bid price of S$685.25 million.
\nMeanwhile, the 13,398.6 sq m site at Lorong 1 Realty Park is zoned for conventional and\/or strata landed homes. Expected to yield about 50 residential properties, the plot has been released for sale via the Confirmed List of the 1H 2017 Government Land Sales (GLS) Programme.
\nThe tender for the Stirling Road site will close on 18 May 2017, while that for the land parcel at Lorong 1 Realty Park will close on 1 June of the same year.
\nAccording to JLL\u2019s Head of Research & Consultancy for Singapore, Tay Huey Ying, both sites are expected to see keen biddings by developers. But the Stirling Road plot is unlikely to see a large turnout similar to that of the recently tendered Toh Tuck Road site due to its high price tag.
\nIn fact, Tricia Song, Research Head at Colliers International Singapore, expects eight to 12 bids for the plot compared to the 24 bids received for the Toh Tuck Road site. The offered quantum could range from S$811 million to S$907 million, or S$850 psf to S$950 psf.
\nMoreover, Tay opined that the substantial unsold supply in the locality could tame the bids as there are currently over 1,500 unsold units in nearby launched and yet-to-be-launched projects, including in Alex Residences (127 unsold units), Commonwealth Tower (306 unsold units), Queens Peak (415 unsold units) and the upcoming 400-unit Artra project.
\nSimilarly, Song estimates that the development of the Stirling Road site will increase the area\u2019s housing supply by 30 percent, but she reckons that the units at two ongoing launches, Queens Peak and Commonwealth Tower, could be significantly absorbed by the market by the time this project is launched.
\nAs for the site at Lorong 1 Realty Park, Tay believes that it could see better turnout than the Stirling Road site given its more palatable price quantum, its location within the established Upper Serangoon area, and the dearth of sites for landed homes in the market.
\n\u201cThe last time a landed site was sold under the GLS programme was four years ago in June 2013, when the Victoria Park Villas parcel was awarded after being strongly contested by 12 bidders,\u201d noted Tay.
\nFor this site Song, expects 16 to 23 bids ranging from S$58 million to S$79 million, which works out to S$400 psf to S$550psf.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…URA launches 2 housing sites for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two housing sites at Stirling Road and Lorong 1 Realty Park were launched for sale...<\/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-52468","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-dEg","jetpack-related-posts":[{"id":113697,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-court-condominium-up-for-collective-sale-for-s108m\/","url_meta":{"origin":52468,"position":0},"title":"Wing Fong Court condominium up for collective sale for S$108m","date":"January 17, 2020","format":false,"excerpt":"\r Meanwhile, the adjacent condo, Wing Fong Mansions, might also be put up for collective sale soon. Image: Google Wing Fong Court in Geylang has been put up for collective sale by PropNex Realty with a $108 million reserve price, reported The Business Times. The freehold condominium located at 10\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/75-8-million-top-bid-for-lorong-1-realty-park-site\/","url_meta":{"origin":52468,"position":1},"title":"$75.8 million top bid for Lorong 1 Realty Park site","date":"June 2, 2017","format":false,"excerpt":"\r Aerial view of the site at Lorong 1 Realty Park in Hougang. (Photo: URA) The tender for a rare landed property site at Lorong 1 Realty Park in Hougang closed on Thursday (1 June) after attracting 11 bids, revealed the Urban Redevelopment Authority (URA). China-based developers Fantasia Investment (Singapore),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75423,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-launches-tenders-for-sengkang-central-hillview-rise-sites\/","url_meta":{"origin":52468,"position":2},"title":"URA launches tenders for Sengkang Central, Hillview Rise sites","date":"December 29, 2017","format":false,"excerpt":"\r Aerialview of Hillview Rise site. (Photo: URA) The Urban Redevelopment Authority (URA) has launched two sites at Sengkang Central and Hillview Rise for sale by public tender, with the bids to be evaluated under a concept and price revenue tender system. 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