{"id":97286,"date":"2018-09-05T10:18:25","date_gmt":"2018-09-05T03:18:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/subdued-interest-in-two-government-land-sales-sites\/"},"modified":"2018-09-05T11:03:42","modified_gmt":"2018-09-05T04:03:42","slug":"subdued-interest-in-two-government-land-sales-sites","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/subdued-interest-in-two-government-land-sales-sites\/","title":{"rendered":"Subdued interest in two Government Land Sales sites"},"content":{"rendered":"


\nAerial view of the sale site at Dairy Farm Road. (Photo: URA)
\nInterest in two Government Land Sales sites at Dairy Farm Road and Jalan Jurong Kechil was subdued after their tender exercises closed with five and three bids respectively.
\nThis marked the first batch of GLS site tenders to close after the government introduced new property cooling measures in July 2018.
\n\u201cThe tender results reflect developers\u2019 cautious stance in general, and for private housing sites in particular,\u201d said JLL Singapore head of research and consultancy Tay Huey Ying.
\nThis comes as the additional cooling measures \u201chave a greater impact on demand for private homes\u201d, she explained.
\nBut while bidding activity was subdued, different site attributes contributed to different bidding strategies, said Desmond Sim, CBRE\u2019s research head for Singapore and Southeast Asia.
\nHe noted that the residential with commercial use on first storey site at Dairy Farm Road witnessed close competition as the winning margin between the top bid and the second highest bid was a mere 1.1 percent.
\nUnited Engineers\u2019 UED Residential submitted the top bid of $368.8 million, while MCC Land (Singapore) and Greatview Investment submitted the second highest at $364.89 million.
\nLaunched on 31 May, the 19,647.7 sq m site has a gross floor area of 41,261 sq m and a 99-year leasehold tenure.
\nMeanwhile, the winning margin for the 14,234.9 sq m site along Jalan Jurong Kechil was 31.3 percent.
\nCOHL Singapore and CSC Land Group (Singapore) submitted the top bid of $215 million, while Hao Yuan Investment and Sim Lian Land submitted a $163.8 million and $130 million bid respectively.
\n\u201cThe lower price quantum for this site, as well as a unit yield of only 280 units, has emboldened the winning bidder to put a more generous bid to secure this land bank,\u201d said Sim.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Subdued interest in two Government Land Sales sites<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of the sale site at Dairy Farm Road. (Photo: URA) Interest in two...<\/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-97286","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-pj8","jetpack-related-posts":[{"id":113517,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bids-for-jalan-bunga-rampai-and-irwell-bank-rd-gls-sites-lower-than-expected\/","url_meta":{"origin":97286,"position":0},"title":"Bids for Jalan Bunga Rampai and Irwell Bank Rd GLS sites lower than expected","date":"January 10, 2020","format":false,"excerpt":"\r Developers \u201ccontinue to adopt a more prudent approach to land bids, amid market uncertainties, ample upcoming supply, and the cooling measures which remain in place\u201d, said Tricia Song, head of research for Singapore at Colliers International. Photo: URA The Urban Redevelopment Authority (URA) has announced the closings tenders for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108060,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/real-estate-investment-sales-up-despite-slowing-en-bloc-market\/","url_meta":{"origin":97286,"position":1},"title":"Real estate investment sales up despite slowing en bloc market","date":"June 13, 2019","format":false,"excerpt":"\r Real estate investment sales in Singapore improved in the first quarter of 2019 even as the en bloc\u00a0sale market appears to have slowed down. Real estate investment sales in Singapore improved in the first quarter of 2019 even as the en bloc sale market appears to have slowed down.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-averted-a-10-15-growth-in-home-prices\/","url_meta":{"origin":97286,"position":2},"title":"Property cooling measures averted a 10-15% growth in home prices","date":"November 16, 2018","format":false,"excerpt":"\r National Development Minister Lawrence Wong clarified that the government wants to stabilise the property market so that prices may move broadly in line with income growth. While developers may want a \u201ccomplete laissez faire situation\u201d of allowing \u201cthe market to run its own course\u201d, the government cannot take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":134501,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mtr-corp-withdraws-tender-for-oyster-bay-residential-site-on-lantau-island-after-just-3-bids-submitted-in-subdued-market\/","url_meta":{"origin":97286,"position":3},"title":"MTR Corp withdraws tender for Oyster Bay residential site on Lantau Island after just 3 bids submitted in subdued market","date":"February 13, 2023","format":false,"excerpt":"\r It is the third time the bidding process for a parcel of Hong Kong land has fallen through in just over a month as developers remain hesitant to commit to large investments amid rising interest rates and uncertainty in the economic outlook.\r \r Source : South China Morning Post\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":147883,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinachem-wins-hong-kong-land-tender-with-us131-million-bid-amid-subdued-sentiment\/","url_meta":{"origin":97286,"position":4},"title":"Chinachem wins Hong Kong land tender with US$131 million bid amid subdued sentiment","date":"October 29, 2024","format":false,"excerpt":"\r Developers will remain conservative in their bidding until they see stronger signs of recovery in the housing market, consultants say.\r \r Source : South China Morning Post\r Read more...Chinachem wins Hong Kong land tender with US1 million bid amid subdued sentiment","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54919,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-bid-more-aggressively-amid-signs-of-housing-market-rebound\/","url_meta":{"origin":97286,"position":5},"title":"Developers bid more aggressively amid signs of housing market rebound","date":"May 16, 2017","format":false,"excerpt":"\r With buyers snapping up units at projects such as Seaside Residences (pictured), new home sales more than doubled from the same month last year. The spike in new home sales following an easing of property cooling measures saw more developers aggressively bidding at land auctions in Singapore, reported Bloomberg.\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\/97286"}],"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=97286"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}