\nThe Housing and Development Board (HDB) released for sale on Monday (27 August) a \u2018white site\u2019 measuring 409,068.42 sq ft in Pasir Ris Drive\/Pasir Ris Central that can potentially yield about 600 private homes, reported the Straits Times.
\nLocated next to the Pasir Ris MRT station, the residential and commercial site is offered under a 99-year leasehold tenure. It has a gross plot ratio of 2.5 and maximum gross floor area of 1,022,679.1 sq ft
\n\u201cThe white site in Pasir Ris Central is part of the government\u2019s plans to rejuvenate the Pasir Ris district. Its proximity to the Pasir Ris MRT station and large population catchment should appeal to developers. It would also be the first mixed-use development \u2013 commercial and residential \u2013 in the Pasir Ris town centre,\u201d said Colliers International\u2019s research head for Singapore Tricia Song.
\nMore:\u00a0Find HDB flats for sale or read our\u00a0HDB guides and BTO guides
\nAside from the 386,424.38 sq ft set aside for commercial purposes, the site will be used for a mixed-use development featuring a town plaza, polyclinic, heritage garden and child care centre. The winning bidder is also required to build a link bridge and underground linkway, along with an Integrated Bus Interchange with MINDEF Pick-Up and Drop-Off point.
\n\u201cThere has been an influx of project completions in Pasir Ris in the past few years, resulting in heightened demand for amenities. Thus, the injection of a white site with commercial component is timely,\u201d said Huttons Asia\u2019s research head Lee Sze Teck.
\n\u201cWe are likely to see joint ventures between developers particularly those with prior experience in such projects or REITs sponsors bidding for the site as such plum sites are not easily available.\u201d<\/p>\n
Song agrees that the site could likely attract major developers or a consortium of them. However, the plot has some drawbacks compared to the recently sold state land in Sengkang Central, which is expected to contain 700 houses, and there\u2019s no nearby competing mall there.
The Housing and Development Board (HDB) released for sale on Monday (27 August) a \u2018white...<\/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-96782","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-pb0","jetpack-related-posts":[{"id":102323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-response-for-pasir-ris-central-white-site\/","url_meta":{"origin":96782,"position":0},"title":"Weak response for Pasir Ris Central white site","date":"December 17, 2018","format":false,"excerpt":"\r Location map of the land parcel at Pasir Ris Central. Source: HDB The tender for a white site at Pasir Ris Central closed last Friday (14 Dec), with three bids received. The bidders were Laguna Garden Limited and Far East Commercial Trustee Pte. Ltd.; Phoenix Residential Pte. Ltd. &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105361,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-awards-tender-for-pasir-ris-site\/","url_meta":{"origin":96782,"position":1},"title":"HDB awards tender for Pasir Ris site","date":"March 25, 2019","format":false,"excerpt":"\r The proposed development will comprise a commercial and residential project that is integrated with a bus interchange, town plaza and polyclinic. The Housing and Development Board (HDB) has awarded the tender for a white site at Pasir Ris Central to Phoenix Residential and Phoenix Commercial, after the consortium submitted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53443,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pasir-ris-to-get-2000-new-hdb-flats\/","url_meta":{"origin":96782,"position":2},"title":"Pasir Ris to get 2,000 new HDB flats","date":"May 2, 2017","format":false,"excerpt":"\r Pasir Ris Town Centre will be transformed into a vibrant hub with an integrated bus interchange, a new Heritage Garden and partly-sheltered Town Plaza. Under the Remaking Our Heartland (ROH) programme, residents of Pasir Ris can look forward to about 2,000 new HDB flats and a new mixed-use project\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50736,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-makeover-plans-for-pasir-ris-toa-payoh-and-woodlands\/","url_meta":{"origin":96782,"position":3},"title":"Big makeover plans for Pasir Ris, Toa Payoh and Woodlands","date":"April 3, 2017","format":false,"excerpt":"\r More recreational spaces will be introduced along the Woodlands waterfront. (Photo: HDB) The Housing and Development Board (HDB) has finalised plans to revitalise Pasir Ris, Toa Payoh and Woodlands. 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Two of Allgreen Properties and Kerry Properties\u2019 70:30 joint ventures (JVs) \u2013 Phoenix Residential and Phoenix Commercial \u2013 have obtained an $861.75 million green loan from Maybank, OCBC Bank and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/pasir-ris-8-artist-impression.jpeg?fit=820%2C405&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96782"}],"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=96782"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96782\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u201cWe estimate that tender could attract four to eight bids with the top bid of $820 million ($800 psf ppr). This compares with the most recent Sengkang Central tender which attracted seven proposals from six bidders with a top bid of $778 million ($924psf ppr),\u201d she added.
\nMore: Can you afford an HDB flat? Check your\u00a0affordability\u00a0now.\u00a0
\nThe tender exercise for the Pasir Ris site will be done via a Concept and Price Revenue Tender System (two-envelope system). The concept of the proposed project will be evaluated first based on its Quality of Public Realm and Quality of Design Concept, as well as the developer\u2019s track record. Thereafter, only the price offered by bidders with qualifying concept proposals will be considered.
\nThe tender exercise will close on 14 December 2018. Before that, HDB will hold a briefing on the key planning and urban design requirements for the site and the concept evaluation criteria on 11 September.
\nEugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email eugenia@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…HDB launches first mixed-use site in Pasir Ris town centre<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"