{"id":97984,"date":"2018-09-17T11:06:45","date_gmt":"2018-09-17T04:06:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/close-fight-for-sengkang-ec-site\/"},"modified":"2018-09-17T12:04:38","modified_gmt":"2018-09-17T05:04:38","slug":"close-fight-for-sengkang-ec-site","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/close-fight-for-sengkang-ec-site\/","title":{"rendered":"Close fight for Sengkang EC site"},"content":{"rendered":"


\nLocation map of the land parcel at Anchorvale Crescent. Source: HDB
\nCompetition 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).
\nAccording to the Housing and Development Board (HDB), the highest bidder is Evia Real Estate and Gamuda (Singapore), which offered $318.8 million, which translates to a land rate of $576 psf per plot ratio (psf ppr).
\nHome buyers looking for\u00a0Executive Condominiums\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nThe second top bidder is Qingjian Realty, which submitted a bid of $318,888,000 or $576.198 psf ppr.
\n\u201cThis has to be the tightest bid spread ever between the top two bidders for a GLS site. Notwithstanding the fact that another tender EC site was closed 10 days earlier, this site saw strong bidding by developers,\u201d said Huttons Asia research head Lee Sze Teck.
\nColliers International\u2019s research head Tricia Song agrees. \u201cThe top bid barely edged out the second highest bidder by just $899 or 0.0003 percent, and the tight margin of just 15 percent between the top and last bidder showed the consensus of pricing among developers.\u201d
\nSong noted that the highest bidder is a joint venture between Evia Real Estate and Gamuda, which last teamed up for GEM Residences. Evia Real Estate is also no stranger to building ECs as it constructed Heron Bay in 2012 and Lake Life in 2013.
\nSong pointed out that EC sites in Singapore continue to attract strong interest from property developers. In fact, the Canberra Link EC plot tender that closed on 4 September drew nine bids, with Hoi Hup Realty and Sunway Developments offering $271 million or $558 psf ppr.
\nIn comparison, two private residential sites in Jalan Jurong Kechil and Dairy Farm only managed to attract three and five bids respectively at the close of tender this month, following the introduction of the new property curbs in July.
\nBased on the $576 psf ppr top bid for the Anchorvale Crescent site, Song estimates that the EC to be built there would have a breakeven price of $900 to $950 psf ppr and an average selling price of $1,100 psf.
\nEstimate your maximum property affordability with our\u00a0Affordability Calculator
\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…Close fight for Sengkang EC site<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Location map of the land parcel at Anchorvale Crescent. Source: HDB Competition was tight for...<\/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-97984","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-puo","jetpack-related-posts":[{"id":23811,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/16-bids-for-anchorvale-lane-ec-site\/","url_meta":{"origin":97984,"position":0},"title":"16 bids for Anchorvale Lane EC site","date":"August 24, 2016","format":false,"excerpt":"\r Location of the land parcel at Anchorvale Lane. Source: HDB An executive condominium (EC) site along Anchorvale Lane in the Sengkang area has attracted strong interest from developers, with 16 bids submitted at the end of the public tender exercise on Tuesday (23 August), said the Housing and Development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94759,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/99-year-leasehold-site-at-anchorvale-crescent-triggered-for-sale\/","url_meta":{"origin":97984,"position":1},"title":"99-year leasehold site at Anchorvale Crescent triggered for sale","date":"July 26, 2018","format":false,"excerpt":"\r Location map of the land parcel at Anchorvale Crescent. Source: HDB An executive condominium (EC) site at Anchorvale Crescent has been triggered for sale by public tender, after a developer committed a minimum bid of $255 million, announced the Housing and Development Board (HDB) on Wednesday (25 July). First\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25143,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/anchorvale-lane-ec-site-awarded\/","url_meta":{"origin":97984,"position":2},"title":"Anchorvale Lane EC site awarded","date":"September 6, 2016","format":false,"excerpt":"\r Location of the land parcel at Anchorvale Lane. Source: HDB A hotly contested executive condominium (EC) site at Anchorvale Lane in Sengkang was awarded to Hoi Hup Realty and Sunway Developments on Monday (5 September), after the developers jointly submitted the top bid of $241 million, which translates to\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":97984,"position":3},"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":100762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-launches-three-sites-yielding-700-ecs-over-1300-private-condos\/","url_meta":{"origin":97984,"position":4},"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":[]},{"id":20890,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-crest-ec-over-70-sold\/","url_meta":{"origin":97984,"position":5},"title":"Treasure Crest EC over 70% sold","date":"July 19, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest sales gallery over the weekend. (Photo: Sim Lian Group) More than 70 percent of the units at the Treasure Crest executive condominium (EC) in Anchorvale Crescent were sold over the weekend, said its developer Sim Lian Group. During the first two days of bookings,\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\/97984"}],"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=97984"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/97984\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=97984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=97984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=97984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}