{"id":73812,"date":"2017-12-06T10:39:27","date_gmt":"2017-12-06T03:39:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-closed-tender-for-jiak-kim-street-and-fourth-avenue-sites\/"},"modified":"2017-12-06T11:03:04","modified_gmt":"2017-12-06T04:03:04","slug":"ura-closed-tender-for-jiak-kim-street-and-fourth-avenue-sites","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-closed-tender-for-jiak-kim-street-and-fourth-avenue-sites\/","title":{"rendered":"URA closed tender for Jiak Kim Street and Fourth Avenue sites"},"content":{"rendered":"


\nView of the land parcel at Jiak Kim Street. (Photo: URA Map)
\nTwo residential plots in Jiak Kim Street and Fourth Avenue attracted a total of 17 bids with the combined top bid amounting to nearly $1.51 billion, after the Urban Redevelopment Authority (URA) closed the tender for both Reserved List sites on Tuesday, 5 December.
\nThe 13,481.7 sq m land parcel in Jiak Kim Street drew 10 bids. Compared to the minimum bid price of $689.35 million, FCL Residences Pte Ltd submitted the highest offer of $955.41 million or $18,649 psm based on its maximum permissible gross floor area (GFA) of 51,231 sq m.
\nThe 18,532.2 sq m plot in Fourth Avenue saw seven bids. In comparison to the minimum bid price of $448.8 million, Allgreen Properties submitted the top price of $552.96 million or $16,576 psm based on its GFA of 33,358 sq m.
\n\u201cThe strong showing and competitive bidding at the top end for both Jiak Kim Street and Fourth Avenue site clearly reflect the bidders\u2019 confidence in a recovering private residential market amid the positive economic outlook,\u201d said Tricia Song, Colliers International\u2019s Research Head for Singapore.
\nBoth 99-year leasehold plots are zoned for residential, but the developer is allowed to build commercial space on the 1st level of the Jiak Kim Street site.
\nIn particular, Song estimates a break-even price of $2,400 to $2,450 psf and an average price of $2,600 to $2,700 psf for the larger site. That for the Fourth Avenue plot is around $2,200 psf, with an average selling price of $2,400 to 2,500 psf.
\nMeanwhile, JLL\u2019s Research Head for Singapore Tay Huey Ying noted that the batching of tender closings has helped spread competition as each site attracted a different set of bidders. She also pointed out that home builders from the city-state have trumped their overseas rivals for both plum sites.
\n\u201cLocal developers continue to maintain their hold on the prime district market, pipping foreign developers such as China\u2019s CSC Land and Hong Kong tycoon Li Ka-Shing\u2019s Japura Pte Ltd for the two sites at Jiak Kim Street and Fourth Avenue, respectively,\u201d she added.
\nThe complete tender results for Jiak Kim Street site is available here, while that for Fourth Avenue can be viewed here.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…URA closed tender for Jiak Kim Street and Fourth Avenue sites<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the land parcel at Jiak Kim Street. (Photo: URA Map) Two residential plots...<\/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-73812","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-jcw","jetpack-related-posts":[{"id":67720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-launch-tender-for-the-former-zouk-site\/","url_meta":{"origin":73812,"position":0},"title":"URA to launch tender for the former Zouk site","date":"September 29, 2017","format":false,"excerpt":"\r Aerial view of the land parcel at Jiak Kim Street, which includes three conserved shophouses. (Photo: URA) The Urban Redevelopment Authority (URA) announced on Friday (29 September) that it has accepted an application from a developer to put up the former Zouk site at Jiak Kim Street in Robertson\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-zouk-site-up-for-sale-with-689-353mil-reserve-price\/","url_meta":{"origin":73812,"position":1},"title":"Former Zouk site up for sale with $689.353mil reserve price","date":"October 20, 2017","format":false,"excerpt":"\r Aerial view of the land parcel at Jiak Kim Street.(Photo: URA) The site previously occupied by iconic nightclub Zouk has been put up for sale, with a minimum bid price of $689.353 million. The tender for the 99-year leasehold site will close on 5 December, with tenders below $689.353\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71705,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-sales-to-hit-14b-a-sign-of-property-market-resurgence\/","url_meta":{"origin":73812,"position":2},"title":"Land sales to hit $14b, a sign of property market resurgence","date":"November 14, 2017","format":false,"excerpt":"\r Pearlbank Apartments in Outram is a 37-storey horse-shoe shaped building that comprises 280 apartments and eight commercial units. (Photo: Colliers International) More than $3.3 billion worth of land deals, including en bloc sales, are expected to be completed in Singapore during this quarter, boosting the total for the whole\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-land-sales-programme-for-h1-2018\/","url_meta":{"origin":73812,"position":3},"title":"Govt unveils land sales programme for H1 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, announced the Urban Redevelopment Authority (URA) on Wednesday (13 December). These land parcels could potentially yield approximately 8,045 private homes and 63,960 sq m in gross floor area (GFA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74508,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unveils-gls-programme-for-1h-2018\/","url_meta":{"origin":73812,"position":4},"title":"Gov\u2019t unveils GLS Programme for 1H 2018","date":"December 14, 2017","format":false,"excerpt":"\r Six confirmed list sites and nine reserve list plots will be launched under the 1H 2018 Government Land Sales (GLS) Programme, announced the Urban Redevelopment Authority on Wednesday (13 December 2017). These land parcels can potentially yield a total of around 8,045 private dwellings and 63,960 sq m in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122275,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/el-development-and-gao-xiu-hua-submit-top-bids-for-slim-barracks-rise-gls-sites\/","url_meta":{"origin":73812,"position":5},"title":"El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites","date":"September 29, 2021","format":false,"excerpt":"\r El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sitesTwo residential sites at Slim Barracks Rise received robust interest during the close of their tender, with each site attracting 10 bids, revealed the Urban Redevelopment Authority (URA) on Tuesday (28 September). The tender for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/slim-barracks-parcel-a.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73812"}],"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=73812"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73812\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=73812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=73812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=73812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}