{"id":69220,"date":"2017-10-17T10:16:41","date_gmt":"2017-10-17T03:16:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-warm-up-to-en-bloc-sales\/"},"modified":"2017-10-17T11:03:32","modified_gmt":"2017-10-17T04:03:32","slug":"foreign-developers-warm-up-to-en-bloc-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-warm-up-to-en-bloc-sales\/","title":{"rendered":"Foreign developers warm up to en bloc sales"},"content":{"rendered":"


\nView of HDB flats in the Ghim Moh area.
\nDespite its cumbersome and protracted process, the en bloc fever has started to catch on among foreign developers \u2013 especially those from China \u2013 signalling a paradigm shift, reported Business Times.
\nJLL regional director of investments Tan Hong Boon noted that en bloc sites were hardly considered by developers before 2016 since more sites were available under the government land sales (GLS) programme than in the collective sale market.
\nBut as more attractive en bloc sites are offered in the market on the back of the limited supply of GLS sites, more developers are now turning to the en bloc market. With this, increased enquiries regarding the collective sale process have since been observed among foreign players.
\nA corporate lawyer revealed that Chinese developers may have even surpassed a mental hurdle towards the collective sale concept, which is uncommon in China or Hong Kong.
\nThis is evidenced by the fact that several Chinese firms have already snapped en bloc sites. Just this month, Kingsford Hurray Development acquired Normanton Park for $830.1 million, while SingHaiyi Properties and Huajiang International Corporation acquired freehold condominium Sun Rosier for $271 million. Qingjian Realty, on the other hand, purchased Shunfu Ville for $638 million in May last year.
\nA buyer said to be connected to the Zhao family from China also bought a freehold industrial complex Citimac in July.
\nOther Chinese firms believed to be scouring for deals include Hao Yuan Investment, China Construction and Nanshan Group. MCC Land has also expressed its interest for en bloc sites.
\n\u201cWe have been closely observing the recent wave of en-bloc activities and will be keen to participate in a tender if an opportunity arises,\u201d said MCC Land CEO Tan Zhiyong.
\nHowever, he remains cautious of the developers\u2019 over-exuberant bids.
\n\u201cThe current residential property market seems to be stabilising and recent new launches have also been well received. However, with a likely rise in the supply of new projects coming into the market in the next couple of years arising from these en-bloc activities, how the future market will react to home prices that may rise in tandem with tender prices remains to be seen.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Foreign developers warm up to en bloc sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of HDB flats in the Ghim Moh area. Despite its cumbersome and protracted process,...<\/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-69220","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-i0s","jetpack-related-posts":[{"id":107587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-views-failed-en-bloc-attempt-unsurprising-analysts\/","url_meta":{"origin":69220,"position":0},"title":"Braddell View\u2019s failed en bloc attempt unsurprising, analysts","date":"May 30, 2019","format":false,"excerpt":"\r Analysts attributed the property\u2019s failure to attract bidders to its size and the cooling measures rolled out last July. Launched for collective sale at a record price of $2.08 billion, Braddell View\u2019s failure to receive any bids at the close of its tender came as no surprise to market\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70174,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/speculation-abounds-on-uras-request-for-collective-sale-details\/","url_meta":{"origin":69220,"position":1},"title":"Speculation abounds on URA\u2019s request for collective sale details","date":"October 27, 2017","format":false,"excerpt":"\r The property market is rife with speculation on why the Urban Redevelopment Authority (URA) is requiring property agents marketing en bloc sales to submit detailed information on the tender results, reported the Business Times. One camp believes URA will use the information gathered to craft the Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":69220,"position":2},"title":"En bloc sales soars by over 4-fold, says MND","date":"November 7, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":65464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-ramp-up-landbanking-activity\/","url_meta":{"origin":69220,"position":3},"title":"Singapore developers ramp up landbanking activity","date":"September 5, 2017","format":false,"excerpt":"\r View of a Government Land Sales site in Singapore. (Photo: Nikki De Guzman) Seven of the top 10 developers with the biggest residential landbank and unsold units in launched projects are local developers, according to the Business Times\u2019 compilation of developers. This comes as Singapore developers came out strong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86928,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-29-new-launches-offering-14200-units-for-rest-of-year-report\/","url_meta":{"origin":69220,"position":4},"title":"Up to 29 new launches offering 14,200 units for rest of year: report","date":"May 2, 2018","format":false,"excerpt":"\r Is the upcoming supply excessive and will it result in an overheating housing market?\u00a0 Up to 29 private residential projects could be launched between the second and fourth quarters of this year, supplying about 14,200 new units and raising concerns of an overheating housing market, according to a report\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-soared-in-2017\/","url_meta":{"origin":69220,"position":5},"title":"Residential investment sales soared in 2017","date":"February 7, 2018","format":false,"excerpt":"\r Singapore investment sales surged by 119 percent to $21.7 billion for the whole of 2017. Residential investment sales in Singapore rose sharply by 184 percent year-on-year to $8.3 billion last quarter and surged by 119 percent to $21.7 billion for the whole of 2017, according to a new report\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\/69220"}],"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=69220"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69220\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=69220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=69220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=69220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}