Archive for category: Misc

The tenders for two government land sale (GLS) sites located at Lentor Central and Champions Way closed on Sept 12. Six bids were received for the Champions Way site, which can yield 350 units. City Developments Limited (CDL) submitted the top bid of $294.889 million, which reflects a land rate of $904 psf per plot ratio (psf ppr). CDL’s bid is 8.3% higher than the second-highest bid from TID (the Hong Leong Group-Mitsui Fudosan joint venture) at $272.26 million or $835 psf ppr.

This site is the first GLS tender in Woodlands excluding executive condominiums since 2011, when a plot at Woodlands Avenue 2 and Rosewood Drive was sold for $367 psf per plot ratio (psf ppr) and developed into the 689-unit Parc Rosewood. Replenishing its land bank, CDL looks forward to creating a vibrant and sustainable icon at the site.

Interestingly, the Champions Way plot received the highest number of bids for a non-executive condominium (EC) site this year. Yet, the disparity between the top and lowest bid is large, with CDL’s bid being 45% higher than Thakral Corp’s $203.33 million ($623 psf ppr). This disparity may indicate a shift in the market with different expectations held by various players.

Despite some trepidation, the site will benefit from the growth of the Woodlands Regional Centre, upgrader demand from residents in Woodlands, as well as its proximity to the Woodlands South MRT Station on the Thomson East Coast Line. The Lentor Central plot, however, only drew two bids.

Predictions for the future project’s selling price range from just under $2,000 psf to above $1,900 psf. This is a premium of more than 53% over the median price for resale transactions at Parc Rosewood this year of $1,301 psf.

Giving context to the development, Leonard Tay, head of research at Knight Frank Singapore, believes that the future project at the site would set a new benchmark price for new launches in the Woodlands planning area.

With the potential to provide the area with a vibrant and sustainable icon, the market affect on the site will be interesting to observe. Regardless, the project will further contribute to the growth and success of the Woodlands Regional Centre.

The tenders for two government land sale (GLS) sites closed on Sept 12. Located at Lentor Central and Champions Way, the Champions Way site drew six bids with City Developments Limited (CDL) submitting the top bid of $294.889 million, which reflects a land rate of $904 psf per plot ratio (psf ppr). This was 8.3% higher than the second-highest bid from TID (the Hong Leong Group-Mitsui Fudosan joint venture) at $272.26 million or $835 psf ppr.

Given that this site is the first GLS tender in Woodlands excluding executive condominiums since 2011, CDL hopes to replenish its landbank and ensure a stable launch pipeline. With the potential to provide the area with a vibrant and sustainable icon, CDL looks forward to seeing their plans come to life.

On the flip side, the wide disparity between the top bid and the lowest bid received for Champions Way points to an inflection in the property market, with different expectations held by various market players. Thakral Corp’s bid of $203.33 million ($623 psf ppr) was 45% lower than CDL’s bid, indicating risk assessment for the locale.

Nonetheless, the future project at the site is set to benefit from the growth of the Woodlands Regional Centre, upgrader demand from residents in Woodlands, as well as its proximity to the Woodlands South MRT Station on the Thomson East Coast Line. Predictions for the future project’s selling price range from just under $2,000 psf to above $1,900 psf. This is a premium of more than 53% over the median price for resale transactions at Parc Rosewood this year of $1,301 psf.

Leonard Tay, head of research at Knight Frank Singapore, believes that the future project at the site would set a new benchmark price for new launches in the Woodlands planning area. This would pave the way for continued growth and success of the Woodlands Regional Centre.

Living in a Tampines Condo has its advantages – it is typically more affordable than a mixed-use development, particularly as standalone condos do not incur the same infrastructure and setup costs. Additionally, standalone condos typically have fewer facilities compared to mixed-use developments. Most condos will provide standard amenities such as pools, gyms, and BBQ areas, however there are usually no commercial spaces, community clubs, or public transport nearby. For those looking for greater convenience, mixed-use developments may be a better option.

The Lentor Central plot, on the other hand, only drew two bids compared to the six received for the Champions Way site. Nonetheless, the future project is expected to have a positive effect on the area.