{"id":96181,"date":"2018-08-17T11:33:22","date_gmt":"2018-08-17T04:33:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-capitaland-bags-prime-site-in-sengkang-central\/"},"modified":"2018-08-17T12:03:10","modified_gmt":"2018-08-17T05:03:10","slug":"cdl-capitaland-bags-prime-site-in-sengkang-central","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-capitaland-bags-prime-site-in-sengkang-central\/","title":{"rendered":"CDL-CapitaLand bags prime site in Sengkang Central"},"content":{"rendered":"


\nA joint venture (JV) between CapitaLand and City Developments Ltd (CDL) has clinched a prime mixed-use site in the heart of Sengkang Central for $777.78 million ($923.6 psf ppr), announced the Urban Redevelopment Authority (URA) on Thursday (16 August).
\nThe JV said the 3.7ha (401,008 sq ft) site is among the biggest residential and commercial plots awarded since 2015. They plan turn it into an integrated community hub with 700 apartments, along with amenities like a hawker centre, childcare centre, retail shops and a community club spanning three storeys.
\nExpected to be completed by 1H 2022, the integrated project has direct access to Buangkok MRT Station and the upcoming bus interchange there. Aside from being a 20-minute drive from the Central Business District (CBD), it is only nine stops or less than 25 minutes from the Dhoby Ghaut MRT Station via the North-East Line.
\nWhile CDL and CapitaLand had earlier teamed up for the Hillview site tender, this is their first successful bid, said Desmond Sim, CBRE\u2019s research head for Singapore and Southeast Asia.
\n\u201cThis is also the first GLS site where bids were submitted before the introduction of the 6 July cooling measures. Nevertheless, the developers can leverage on the potential of this site to develop the Sengkang community and transport hub to serve the Sengkang and Buangkok housing estates and inject much vibrancy into the area.\u201d
\nIn addition, the JV revealed that new non-remittable and revised ABSD rate for private housing developers announced in the new property curbs will not apply to this 99-year leasehold site with a maximum gross floor area of 842,125 sq ft
\n\u201cCapitaLand looks forward to partnering CDL to shape and transform the site into a landmark development that will be an identity marker and new focal point for the Buangkok neighbourhood,\u201d said CapitaLand Group President & Group CEO Lim Ming Yan.
\n\u201cOver the years, CDL has built up a strong track record for compelling design concepts which has enabled us to secure prime sites like The South Beach and Quayside Collection in Sentosa Cove under the two-envelope system,\u201d added CDL Group CEO Sherman Kwek.
\nOverall, six parties submitted seven concept proposals for the Sengkang Central site tender, but only the price offers of four parties were considered. Aside from the CDL-CapitaLand JV, these include Wing Tai Holdings and Keppel Land ($608.9 million), Singapore Press Holdings and Kajima Development ($636.39 million) and Perennial Real Estate Holdings and Qingjian Realty ($682 million).
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…CDL-CapitaLand bags prime site in Sengkang Central<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A joint venture (JV) between CapitaLand and City Developments Ltd (CDL) has clinched a prime...<\/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-96181","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-p1j","jetpack-related-posts":[{"id":111858,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sengkang-grand-residences-apartments-to-open-for-preview-on-friday-with-units-priced-from-798000\/","url_meta":{"origin":96181,"position":0},"title":"Sengkang Grand Residences apartments to open for preview on Friday, with units priced from $798,000","date":"October 24, 2019","format":false,"excerpt":"\r Located in Sengkang Central, the residential component comprises 680 residential units that are spread across nine blocks. Prices start from $798,000 for the one-bedroom with a study unit.\u00a0\u00a0 Property developers CapitaLand and City Developments Limited (CDL) are set to open Sengkang Grand Residences for public preview this Friday (25\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/liang-court-redevelopment-to-include-700-prime-condo-units\/","url_meta":{"origin":96181,"position":1},"title":"Liang Court redevelopment to include 700 prime condo units","date":"November 21, 2019","format":false,"excerpt":"\r The site currently consists of Liang Court shopping centre,\u00a0Novotel Singapore Clarke Quay, Somerset Liang Court Singapore. Photo: CapitaLand In a joint announcement by City Developments Limited (CDL), CapitaLand, and Ascott Residence Trust (Ascott Reit), the existing Liang Court site\u2014located within District 6\u2014will be redeveloped into a mixed-use, integrated development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112119,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/216-sengkang-grand-residences-units-sold-at-launch-weekend\/","url_meta":{"origin":96181,"position":2},"title":"216 Sengkang Grand Residences units sold at launch weekend","date":"November 4, 2019","format":false,"excerpt":"\r Singaporeans accounted for the bulk of the buyers at 93%, while the remaining 7% were permanent residents and foreigners primarily from Malaysia, China, India and the Philippines. Photo: CDL Developers CapitaLand and City Developments Limited (CDL) sold 216 of the 280 units released for sale at Sengkang Grand Residences\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-buys-landed-housing-site-in-vietnam-for-s81-4mil\/","url_meta":{"origin":96181,"position":3},"title":"CapitaLand buys landed housing site in Vietnam for S$81.4mil","date":"August 31, 2018","format":false,"excerpt":"\r CapitaLand is buying a prime site in Ho Chi Minh City for VND1,380 billion (approx. S$81.4 million), with the 60,000 sq m land parcel expected to contain over 100 landed housing when the development is completed by 2021. This marks the Singapore-listed property developer\u2019s third acquisition in August 2018\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112360,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdls-q3-profit-dragged-down-by-impairment-losses\/","url_meta":{"origin":96181,"position":4},"title":"CDL\u2019s Q3 profit dragged down by impairment losses","date":"November 14, 2019","format":false,"excerpt":"\r However, the group saw healthy residential sales in Singapore,\u00a0with total sales amounting to $2.56 billion. City Developments Limited\u2019s (CDL) profit after tax and minority interest (PATMI) fell 33.7% in the third quarter of 2019 to $115 million, on the back of impairment losses from two hotels and transactions costs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123364,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/canninghill-piers-sells-77-of-its-units-over-launch-weekend\/","url_meta":{"origin":96181,"position":5},"title":"CanningHill Piers sells 77% of its units over launch weekend","date":"November 22, 2021","format":false,"excerpt":"\r CanningHill Piers sells 77% of its units over launch weekend538 out of 696 CanningHill Piers units were sold over its launch weekend on 20 to 21 Nov 2021, including its $48 million penthouse. Source: CDL CanningHill Piers along River Valley Road sold 538 units, or 77% of its 696\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/2021-press-release-canninghill-piers-day-main-1-1.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\/96181"}],"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=96181"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96181\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}