According to sources, the highest bid for Urban Oasis came from Guocoland. The boss of Guocoland, Quek Leng Chan has submitted a bid which was higher than his cousin, Kwek Leng Beng for the plot of land in Sims Drive. Tenders received saw that Guocoland has submitted a bid of $530.89 million for Urban Oasis.
Urban Oasis represents a prime piece of land as it is situated next to Aljunied MRT Station and it is just 300m away from Aljunied MRT Station.
Tuesday marked the close of tender for a 99 year leasehold Symphony Suites Yishun Ave 9. Bidding for the site was considered softer than expected with the tender only bringing in 5 bids. However, it did draw in a top bid of $278.8 million, made by EL Development. This figure was much higher than predicted for the area and was considered a historical record. Continue reading
There are five adjoined shops that double as homes (shophouses) on Club Street that have been put on the market with an asking price of $22 million
The shophouses for sale are Nos 1, 3 and 5 Slub Street, which are three storeys high and include an attic, and Nos 7 and 9, which are two storeys. There is an 80 year balance land tenure for all five.
Due to an imbalance between what buyers are willing to spend right now and the much higher asking price sellers are expecting, we are seeing some resistance taking place in the market where shophouse prices are concerned.
This has, in effect, caused sellers who wish to let go of their properties having to ask for a much lower price. This in turn has caused shophouse prices to fall.
According to property analyst, the 1st half of the Government Land Sales Programme in 2013, Lake Life EC was bid by Evia Real Esate and this was sold under the HDB Land Sales Programme. The Site was sold under the confirmed list of land for sales and the permitted development was listed as executive condominium planning. Lake Life EC presents an opportunity for buyers to buy a property near the Jurong Lake District as this plot of land is situated right next to it.
5. EC launches could be affected by dwindling demand
Property consultants have said that there is a good possibility that the austere buying regulations that have affected The Amore EC sales could very well hurt soon to come launches. As of May 31st there have been 779 executive condo units launched that have remained unsold. This is the highest number in three years.
URA has reported that, at the close of tender, the 99 year leasehold at Mount Sophia Road Condo drew 9 bids with the top bid coming in at $442.3 million, a value that equates to $1,157 per square foot ppr. That winning bid was made by a group consisting of Sunway Developments, Hoi Hup Realty and S.C. Wong Holdings. Close behind the top bid was a tie-up for second place between Singapore’s Fantasia Investments and Hong Kong’s Singhome Re, who entered a bid of $442 million, just 0.1% under the highest bid.
One of the oldest neighborhoods in Queenstown is set to have one of the largest redevelopments for public housing by a joint group. It looks like time had run out for a group of blocks that are marked for demolition. This means 31 blocks and 3,480 apartment units will be demolished along Commonwealth Drive and Tanglin Road under the Selective En bloc Redevelopment Scheme. This affects blocks 24 through 38 as well as blocks 40 through 45 on Tanglin Halt Road. For Commonwealth Drive this will affect blocks 55, 56, 58 through 60, and 62 through 66.
An industrial land parcel located at Gambas Crescent was recently launched for sale, making this the fourth parcel to be put on offer this year for this area. The three parcels that were sold earlier this year were all purchased in 2013 by Far East Organization. This has caused speculation by leading industry leaders of whether or not this property mogul will be bidding once more in the hopes of creating a stronghold in the area. There seems to be a divide amongst property consultant regarding whether or not Far East Organization will make an aggressive bid for this fourth round.
There is going to be a new mixed development called North Park Residences in Yishun Central, Northern Region of Singapore. Lying close to Northpoint Shopping Centre and opposite of Yishun Train Station, North Park Residences is really convenient for travelling. Moreover, this is a long – term project which is on lease for 99 years with the area of 442,397 square feet. When being completed, it will be a complex consists of around 890 residential units and 359,084 square feet of commercial space.