{"id":81205,"date":"2018-02-27T18:06:19","date_gmt":"2018-02-27T11:06:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/sumang-walk-ec-site-attracts-17-bids\/"},"modified":"2018-02-27T19:03:12","modified_gmt":"2018-02-27T12:03:12","slug":"sumang-walk-ec-site-attracts-17-bids","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sumang-walk-ec-site-attracts-17-bids\/","title":{"rendered":"Sumang Walk EC site attracts 17 bids"},"content":{"rendered":"


\nMap showing the location of the EC site at Sumang Walk. Source: HDB
\nThe tender exercise for an executive condominium (EC) site at Sumang Walk in Punggol closed on Tuesday (27 Feb) after attracting 17 bids, said the Housing and Development Board (HDB).
\nThe top bid of $509.37 million was jointly submitted by property developers City Developments Limited and TID Residential. This works out to about $583 psf on the gross floor area (GFA).
\nQingjian Realty (Residential) was the second-highest bidder at $486 million, followed by a $450 million offer from Yanlord Singapore Residential and Soilbuild Group Holdings.
\nLaunched for sale on 12 December 2017, the 291,233 sq ft site has a maximum GFA of 873,698 sq ft and a plot ratio of 3.0.
\nOffered on a 99-year lease, the site is expected to yield some 820 EC units.
\nDr Lee Nai Jia, head of research at Edmund Tie & Co., said the site has several attractive attributes, including its proximity to Waterway Point and the upcoming Punggol Digital District.
\n\u201cThere will also be a substantial rental catchment when the Digital District is up and running. Additionally, there are not many competing EC developments in the market currently,\u201d he said.\u00a0
\nBased on the land rate, he expects the breakeven price to fall between $1,000 to $1,100 psf ppr.
\n\u201cWhile the winning bid is considered high relative to past launch prices, the demand for the site is expected to be supported by buyers\u2019 positive outlook of the area. Furthermore, with prices of new private homes trending upwards, the final selling price of the future EC development will be an attractive option for investment,\u201d noted Lee.
\nA decision on the award of the tender will be made after the bids have been evaluated, said HDB.\u00a0
\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…Sumang Walk EC site attracts 17 bids<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Map showing the location of the EC site at Sumang Walk. Source: HDB The tender...<\/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-81205","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-l7L","jetpack-related-posts":[{"id":74416,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ec-site-in-sumang-walk-launched-for-sale\/","url_meta":{"origin":81205,"position":0},"title":"EC site in Sumang Walk launched for sale","date":"December 13, 2017","format":false,"excerpt":"\r HDB has launched a residential site for EC development at Sumang Walk. (Photo: HDB) An executive condominium (EC) site measuring 27,056.4 sq m in Sumang Walk has been launched for sale via public tender on Tuesday (12 December), according to the Housing & Development Board (HDB). Offered under the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":81205,"position":1},"title":"Four sites totalling 1,920 homes released","date":"June 29, 2018","format":false,"excerpt":"\r View of the residential site in Clementi Avenue 1. (Photo: URA) The Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) on Thursday (28 June) launched two confirmed list sites for sale under the second half 2018 Government Land Sales (GLS) programme. One is a 153,223.19 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90064,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-residential-sites-yielding-1880-homes-released-for-sale\/","url_meta":{"origin":81205,"position":2},"title":"3 residential sites yielding 1,880 homes released for sale","date":"June 1, 2018","format":false,"excerpt":"\r Aerial view of the sale site at Dairy Farm Road. (Photo: URA) Three residential sites that could yield a total of 1,880 housing units were released for sale by the Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) on Thursday (31 May) under the Government Land Sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97292,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/canberra-link-ec-site-receives-healthy-interest-with-nine-bids\/","url_meta":{"origin":81205,"position":3},"title":"Canberra Link EC site receives healthy interest with nine bids","date":"September 5, 2018","format":false,"excerpt":"\r Location map of the land parcel at Canberra Link. Source: HDB The tender for an executive condominium (EC) site in Canberra Link received nine bids, with Hoi Hup Realty and Sunway Developments submitting the highest bid of $271 million. Launched for sale on 28 June, the 99-year site has\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106215,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-residential-market-to-remain-stable-in-2019\/","url_meta":{"origin":81205,"position":4},"title":"Singapore residential market to remain stable in 2019","date":"April 18, 2019","format":false,"excerpt":"\r The pace of new launches is forecasted to pick up from the second quarter of 2019, with CDL launching numerous projects, including a new EC project at Sumang Walk. Source: HDB Property developers and property services companies expect the residential market to remain relatively stable this year, revealed CGS-CIMB.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-confirmed-list-sites-to-launch-in-1h-2017-could-yield-2330-units\/","url_meta":{"origin":81205,"position":5},"title":"5 confirmed list sites to launch in 1H 2017, could yield 2,330 units","date":"December 16, 2016","format":false,"excerpt":"\r The government will look to ensure there is a steady supply of new homes to meet the needs of Singaporeans. The Ministry of National Development (MND) announced on Friday (16 December) that there will be five confirmed list sites and 10 on the reserve list in the first half\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\/81205"}],"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=81205"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/81205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=81205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=81205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=81205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}