{"id":97292,"date":"2018-09-05T11:24:10","date_gmt":"2018-09-05T04:24:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/canberra-link-ec-site-receives-healthy-interest-with-nine-bids\/"},"modified":"2018-09-05T12:02:47","modified_gmt":"2018-09-05T05:02:47","slug":"canberra-link-ec-site-receives-healthy-interest-with-nine-bids","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/canberra-link-ec-site-receives-healthy-interest-with-nine-bids\/","title":{"rendered":"Canberra Link EC site receives healthy interest with nine bids"},"content":{"rendered":"


\nLocation map of the land parcel at Canberra Link. Source: HDB
\nThe 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.
\nLaunched for sale on 28 June, the 99-year site has an area of 18,040.6 sq m and a gross floor area of 45,101.50 sq m.
\nWhile interest for the site remained healthy, it pales in comparison to the 17 bids received for the last EC site at Sumang Walk that closed in February 2018, noted JLL Singapore head of research and consultancy Tay Huey Ying.
\nIn fact, the $558 psf per plot ratio (psf ppr) top bid received for the Canberra Link site is 4.3 percent lower than the $583 psf ppr achieved for the Sumang Walk site.
\n\u201cPerhaps, developers have taken into account the additional five percent non-remittable ABSD that they have to pay for sites acquired after 5 July 2018 in their tender submission,\u201d she said.
\nThe last EC site sold via public tender within the Sembawang area was in October 2014. With only two bids submitted, the site achieved an average price of $353 psf ppr then, revealed Knight Frank Singapore senior director and head of research Lee Nai Jia.
\n\u201cThe EC market continues to generate healthy interest,\u201d said Desmond Sim, CBRE head of research for Singapore and Southeast Asia. \u201cThis is as this segment for the \u2018sandwiched class\u2019 remains limited in stock, with less than 20 units unsold in the pipeline as of Q2 2018.\u201d
\nTay estimates the breakeven price for the new EC at Canberra Link to stand at between $950 psf and $1,000 psf.
\n\u201cThis could translate to higher selling prices than the last EC project launched at Rivercove Residences along Anchorvale Lane in April 2018, which was sold at an average of $976 psf based on caveats lodged,\u201d she added.
\nHome buyers looking for Executive Condominiums may 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…Canberra Link EC site receives healthy interest with nine bids<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Location map of the land parcel at Canberra Link. Source: HDB The tender for an...<\/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-97292","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-pje","jetpack-related-posts":[{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":97292,"position":0},"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":114700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-closes-tender-for-canberra-drive-and-fernvale-lane-sites\/","url_meta":{"origin":97292,"position":1},"title":"URA closes tender for Canberra Drive and Fernvale Lane sites","date":"March 4, 2020","format":false,"excerpt":"\r Parcels A and B received five and four bids respectively, while the EC site at Ferndale Lane was hotly-contested, with seven bids. The tender for two private residential sites in Canberra Drive (Parcels A and B) and an executive condominium (EC) site in Fernvale Lane closed on Tuesday (3\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-avenue-site-attracts-5-bids-canberra-link-site-gets-8\/","url_meta":{"origin":97292,"position":2},"title":"Clementi Avenue site attracts 5 bids, Canberra Link site gets 8","date":"July 4, 2019","format":false,"excerpt":"\r The tenders for a residential site at Clementi Avenue 1 and an executive condominium (EC) site at Canberra Link attracted healthy interest from developers with five and eight bids received, respectively. A consortium comprising units of UOL Group and United Industrial Corporation (UIC) submitted the top bid of $491.3\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sumang-walk-ec-site-attracts-17-bids\/","url_meta":{"origin":97292,"position":3},"title":"Sumang Walk EC site attracts 17 bids","date":"February 27, 2018","format":false,"excerpt":"\r Map showing the location of the EC site at Sumang Walk. Source: HDB The 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). The top bid of $509.37 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97984,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/close-fight-for-sengkang-ec-site\/","url_meta":{"origin":97292,"position":4},"title":"Close fight for Sengkang EC site","date":"September 17, 2018","format":false,"excerpt":"\r Location map of the land parcel at Anchorvale Crescent. Source: HDB Competition was tight for an executive condominium (EC) site measuring approximately 184,464 sq ft at Anchorvale Crescent in Sengkang, which attracted a total of seven bidders before the tender exercise closed on Friday (14 Sept). According to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos\/","url_meta":{"origin":97292,"position":5},"title":"Govt launches three sites yielding 700 ECs, over 1,300 private condos","date":"November 1, 2018","format":false,"excerpt":"\r Aerial view of the white site at Marina View. (Photo: URA) The government released for sale on Wednesday (31 Oct) two confirmed list sites and one reserve list plot that can collectively yield 540 hotel rooms and slightly over 2,000 residential units. In particular, the Housing and Development Board\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\/97292"}],"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=97292"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97292\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}