{"id":94929,"date":"2018-07-28T07:30:43","date_gmt":"2018-07-28T00:30:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-plaza-fortune-park-extend-tender-closing-dates\/"},"modified":"2018-07-28T21:03:29","modified_gmt":"2018-07-28T14:03:29","slug":"katong-plaza-fortune-park-extend-tender-closing-dates","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-plaza-fortune-park-extend-tender-closing-dates\/","title":{"rendered":"Katong Plaza, Fortune Park extend tender closing dates"},"content":{"rendered":"


\nThe freehold Katong Plaza is located close to the future Marine Parade MRT station, various schools and East Coast Park. (Photo: Huttons Asia)
\nThe introduction by the government of its latest round of property cooling measures saw several en bloc hopefuls extending their tender closing dates, with Katong Plaza and Fortune Park being the latest to do so.
\nThe Business Times reported that mixed-use development Katong Plaza and freehold condo Fortune Park moved their tender closing dates to 11 and 14 September respectively.
\nLearn more about the East Coast\/Marine Parade area and search for\u00a0properties to buy or rent.
\nKatong Plaza was launched for en bloc sale on 7 June with an asking price of $188 million or $1,969 psf per plot ratio (psf ppr), while freehold condo Fortune Park was launched on 12 July with an asking price of $126 million or $1,337 psf ppr.
\nUnder the new measures, the government has raised the Additional Buyer\u2019s Stamp Duty (ABSD) rates, while tightening loan-to-value limits on residential purchases, among others.
\nWith this, Singapore\u2019s commercial sector now looks more appealing to developers and investors as it is unaffected by the new ABSD cooling measures, said Angela Lim, deputy head of investment sales at Huttons Asia, the marketing agent for both properties.
\n\u201cFurthermore, foreigners and overseas investors would not be subject to ABSD on commercial properties, and the loan-to-value limits also remain unchanged.\u201d
\nShe noted that a mixed-use project such as Katong Plaza \u201callows developers to diversify their risk \u2013 the developer could choose to retain a portion of the commercial space for an anchor tenant, while selling the remaining strata commercial units to retail investors\u201d.
\n\u201cThere is also very low risk for the residential portion of the new development, as it can yield approximately 80 units based on an average unit size of 70 square metres,\u201d she added.
\nHowever, developers had provided feedback that they need more time to study their bids prior to purchasing more land, in order to factor in the new curbs and the new development charge rates to be unveiled next month.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Katong Plaza, Fortune Park extend tender closing dates<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The freehold Katong Plaza is located close to the future Marine Parade MRT station, various...<\/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-94929","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-oH7","jetpack-related-posts":[{"id":90608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-plaza-in-district-15-goes-en-bloc-with-188m-price-tag\/","url_meta":{"origin":94929,"position":0},"title":"Katong Plaza in District 15 goes en bloc with $188m price tag","date":"June 6, 2018","format":false,"excerpt":"\r The freehold development is located close to the future Marine Parade MRT station, various schools and East Coast Park. (Photo: Huttons Asia) Katong Plaza, a mixed commercial and residential development along Brooke Road in District 15, will be put up for collective sale on Thursday (7 June) with a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104889,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/selegie-centre-sold-en-bloc-for-120m\/","url_meta":{"origin":94929,"position":1},"title":"Selegie Centre sold en bloc for $120m","date":"March 11, 2019","format":false,"excerpt":"\r Katong Plaza, another mixed-use development, has been relaunched for en bloc sale at an asking price of $188 million ($1,968 psf ppr). Mixed-use development Selegie Centre has finally been sold at its $120 million reserve price, or $1,942 psf per plot ratio (psf ppr), following two failed en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97544,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-east-court-to-go-en-bloc-with-19m-price-tag\/","url_meta":{"origin":94929,"position":2},"title":"Freehold condo East Court to go en bloc with $19m price tag","date":"September 10, 2018","format":false,"excerpt":"\r Built in 1986, the project is close to Eunos MRT station and various schools. East Court, an eight-unit residential development along Koon Seng Road in District 15, will be launched for en bloc sale on Monday (10 Sept) with a guide price of $19 million, revealed marketing agent OrangeTee\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86601,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-45-to-be-launched-at-average-price-of-over-2000-psf\/","url_meta":{"origin":94929,"position":3},"title":"Amber 45 to be launched at average price of over $2,000 psf","date":"April 27, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the Amber 45 condominium at Amber Road. (Photo: UOL Group) Property developer UOL Group will open the Amber 45 showflat for preview this Saturday (28 Apr). The freehold condominium will comprise one 21-storey block of 139 units. Located at 45 Amber Road in District 15, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84828,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/united-mansion-up-for-en-bloc-sale-with-reserve-price-of-98m\/","url_meta":{"origin":94929,"position":4},"title":"United Mansion up for en bloc sale with reserve price of $98m","date":"April 9, 2018","format":false,"excerpt":"\r Completed in 1968, United Mansion in Siglap is located close to Parkway Parade, I12 Katong and various schools. (Photo: Cushman & Wakefield) The freehold United Mansion development at 592 to 614 East Coast Road has been launched for collective sale at a reserve price of $98 million, marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106781,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-could-launch-from-2160-psf\/","url_meta":{"origin":94929,"position":5},"title":"Amber Park Could Launch From $2,160 psf\u00a0","date":"May 2, 2019","format":false,"excerpt":"\r Amber Park, which previewed over the weekend, will likely launch on 4 May, with indicative prices from $2,160 per sq ft (psf),\u00a0reported Singapore Business Review citing DBS Group Research. The 529-unit freehold condo is being developed by City Developments Limited (CDL) along with joint venture partner Hong Realty (Private)\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\/94929"}],"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=94929"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94929\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}