Hoi Hup Realty Pte Ltd's JV with Sunway Group has been awarded the land sale tender for the coveted EC site located at Tampines Avenue 10. The keenly participated tender closed on the 15th of January, drawing a total of 7 bidders in all with Hoi Hup Sunway submitting the highest bid of S$434.4m, or S$578 psf of GFA. Hoi Hup Sunway intends to develop a luxury EC development Parc Central Residences of about 700 units on this 24,938sqm site which can yield up to a maximum of 69,829sqm GFA. The location provides a rare opportunity to develop a luxury EC development within a matured area. Furthermore, with the last EC launched in the east region being in 2012, there is a pent-up demand for this asset class that is in limited supply in the east as well as the entire island.
The site is well served by lots of amenities within stone's throw in the heart of the regional centre of Tampines. This ranges from the Tampines Town Hub - Singapore's first-ever integrated community and lifestyle hub which offers a variety of sports and community facilities, to offices, educational institutions and a number of matured regional shopping malls. These malls include Tampines Mall, Tampines 1, and Century Square. Not to forget the is conveniently linked to the city and the rest of the island via major arterial roads and expressways such as the Tampines Expressway and the Pan Island Expressway. It is also a short distance away from the Tampines MRT station and the Tampines West Station along the Downtown Line. The new EC, named Parc Central Residences, is estimated to be launched in 2nd half of 2020. *Tampines is a planning area and residential town in the geographical region of Tanah Merah located along the south-eastern coast of the East Region of Singapore. The planning area is bordered by Bedok and Paya Lebar to the west, Pasir Ris to the north, Changi to the east and the Singapore Straits to the south. Tampines New Town is located in the northern portion of Tampines planning area. Tampines is the 3rd largest new town in Singapore by area, covering over 2089 hectares of land and also is the 3rd most populated new town, following Bedok and Jurong West. It is the regional centre for the East Region.
Pasir Ris Central, adjecent to White Sand Park, there are a total of 42 booths and 770 seats on the upper and lower floors. On the ground floor, local desirable traditional hawker food will be sold; on the second floor, FAREGROUND @ Upper Deck will launch a new generation of hawkers whom are keen on food. On top of the international food, the dining atmosphere is more modern.
Pasir Ris Central will inject new elements into local delights. In addition to providing local traditional hawker foods familiar to Chinese, it will also introduce trendy foods sought after by young people, becoming a paradise for the next generation of hawkers to present their new idea.
The Pasir Ris Central Hawker Centre, which will be operated by the NTUC Rich Diners Co-operative, will be seperated into 2 sections and the ground floor will consist of 20 cooked food stalls retailing local popular traditional hawker food. FAREGROUND @ Upper Deck on the second floor will launch a new generation of hawkers, as well as Western or Chinese and Western food, or Italian, French or Japanese food. There are 22 booths on this floor.
In addition to the international food on the second floor, the dining atmosphere is more current. It will be transformed into a social space for friends and family to gather and chat. In addition to dining together, you can also relax with two drinks there.
In order to ensure that residents should enjoy food at rational prices and good quality, and at the same time allow hawkers to have a rational income to support their livelihoods, NTUC requires that each stall provide at fewest two affordable meals (Budget Meals) per day to ensure that residents may eat suitably a meal.
The lunar calendar, commonly known as the "Ghost Festival", ended on Thursday, and the developers who have been inactive for a long time are busy again. This weekend, a new project will be launched to test the "water temperature" of the property market. One of the more eye-catching new debuts is the Avenue South Residence on Silat Avenue.
Prime Minister Lee Hsien Loong recently announced the details of the development of the Southern Southern Waterfront at the National Day Rally, which has caused the attention of private home buyers. UOL is vigorously promoting Avenue South is "the first large private residential project in front of the southern waterfront gateway".
Avenue South Residence has a total of 1074 units, distributed in two 56-storey residential buildings and five four-storey retaining buildings. The developer will launch 300 units first. The price of more than half of the units is less than $1.5 million, the one bedroom unit starts from $850,000, and the second bedroom unit jumps from $1.15 million.
UOL's president pointed out at the project promotion meeting yesterday that the Avenue South Residence unit is divided into three categories, including the Peak Collection on the upper floors, the Horizon Collection on the lower floors, and the Heritage Collection in the reserved buildings. The average price is $2250, $1980 and $1780.
According to the letter, the Southern waterfront gateway will be an important development project for the government to reshape Singapore. This 2,000-hectare area, equivalent to six areas of the Marina Bay area, will promote more vigorous business and leisure activities and create many business opportunities. It will also bring huge value-added potential to private houses around the area.
He also hinted that the company won the land of Avenue South Residence at a competitive price, so it would allow the first batch of buyers to enjoy a more attractive price. However, the price of the project may increase, just like the projects such as The Tre Ver and Amber 45.
An executive condominium (EC) site in Tampines Ave 10 was closed today, and a consortium of Hoi Hup Realty and Sunway Developments topped the list with a bid price of $434.45 million.
The consortium just marked another EC site in Canberra Link in September last year and also launched Rivercove Residences, the only EC project last year.
The results of the tender announced by the Housing Development Board show that the Tampines Ave 10 EC has attracted seven parties to bid. The price tag of Strait Industrial and Sunway Development is equivalent to a floor area ratio of 578 yuan per square foot. The second highest bid for MCC Land is equivalent to 574 yuan per square foot.
The total floor area of this 99-year lot is about 69,815 square meters, and about 695 units can be built.
However , some believe that the Marina Bay project is huge, but in the past two years, many developers have actively purchased land and resources are relatively limited. If the Binhai Jingdi section is launched for bidding in the next few months, the developer bidding situation should not be too intense. It is estimated that there will be four to eight parties participating in the bidding. The highest bidding price is equivalent to the floor area ratio of $1426 to $1600 per square foot.
The risk of rising interest rates and Sino-US trade tensions is now increasing, and developers should be more cautious when bidding.
This year's first new executive condominium (EC), Piermont Grand, sold 375 or 46% of its units in the first two days of the opening from 17 July 2019, with an average selling price of $1080 per square foot, setting a record for the highest price of EC. .
The Piermont Grand in Sumang Walk is jointly developed by City Development (CDL) and TID.
Urban Development issued a statement on Sunday that as of 6 pm, 375 of the 820 units were sold, making it the best-selling real estate project this year. The project has three to five bedroom units ranging in size from 840 to 1701 square feet with a starting price ranging from $888,000 to $1.58 million.
According to the statement, 245 units of buyers are the second home buyers, accounting for about 30% of the total number of units. According to the current regulations of the Housing Development Board, 30% of the units at the time of the opening of the EC are reserved for the second home purchasers. As a result of the full amount, the second home purchaser who could not buy a house this time can purchase from the remaining units after one month.
The last launch of the EC project, Rivercove Residences, sold about 500 units at a record price of 965 yuan, about 80% of the total, when it opened in April last year. Now 628 units have been sold out, and the median price is about $1,000.
Singapore Soka Association successfully awarded the first tender for the new religious land bidding framework with a price of 7.08 million. In the future, the religious land in Punggol will be developed into a Chinese temple.
According to the website of the Housing Development Board, the religious site at the junction of Sumang Walk and Sumang Link was launched on October 30 last year. The tender was closed on January 8 this year. Close to the land, it is the Piermont Grand EC (Executive Condominium) at Sumang Walk by CDL. The distance to the nearby Waterway Point is about 5 minutes.
According to the data, Singapore Soka Association was successfully awarded today (25th).
This religious land area is about 2007 square meters and the lease term is 30 years. In addition to the Singapore Soka Association, the other five parties bidding earlier were Diqing Forest, Amaranth Bacheng Temple Sanqinggong Co., Ltd., South Island Tianxindong Association, Confucius and Mencius Temple, and Sanqinggong Taoist Cultural Center.
According to the new tendering framework announced by the Ministry of National Development last September, the tendering activities for religious land will be carried out in two phases.
In the first stage, bidders must meet three conditions, namely, they must be registered religious groups, regularly organize activities that benefit the vast community of our country, and explain their demand for religious land.
After successfully passing the selected bidders, they can participate in the second stage of the bidding activity. The authorities will assess the financial situation of the bidders and then issue the lot to the religious group with the highest bidding price.
The Urban Renewal Authority launched a private residential lot on Fernvale Road for the market bidding, which is expected to supply about 605 residential units to the market. This is the third government land that has been launched within three kilometers of the site in the past six months. Prior to this, the government launched the executive condominium (EC) site in Yio Chu Kang EC and Anchorvale Crescent EC in December last year and June this year.
Analysts said that the location is close to last year's best-selling private residential project "High Park Residences", which is expected to attract a lot of developers interest, hoping to successfully emulate the excellent sales performance of High Park Residences.
According to the URA's notice, the Fenville Road section belongs to the main list of the Government Land Sale Plan (GLS) in the second half of this year. It is a 99-year leasehold with an area of 17,196 square meters and a maximum construction area of 515,590 square meters. .
Sengkang has launched a number of private housing projects in the past year or two, resulting in a seemingly oversupply situation in the region. However, some projects still have good sales results. For example, High Park, a hegemonic private house project launched last year, sold more than 1,300 units at a median price of less than 1,000 yuan.
Wang Dehui, director of Jones Lang LaSalle Research and Consulting, believes that the site is facing High Park Residences and may replicate the success of High Park Residences, such as the Thanggam LRT station and the Seletar Mall. Various conveniences such as schools have become another popular private housing project.
In addition to the location advantages, Wang Dehui also said that the latest data from the URA indicates that the property market is close to the bottom, and developers will be more confident to bid for lots.
He predicted that the lot could attract 6 to 9 bids, and the highest price was slightly higher than the floor area ratio of $450 and $490 per square foot.
This is the short version based on the latest review of One Meyer condominium by newlaunchguru.sg.
The most highly-anticipated new launch of Q1/2019 is finally here! One Meyer, a super rare freehold luxury condo project situated right in the heart of District 15 East Coast, one of the most prestigious and upmarket districts in Singapore. Not only that, this project is also one of the few condos in the area where residents can have stunning sea view without the traffic noise coming from ECP, thanks to the Katong Park standing in the front.
According to JLL, the marketing agent involved in the deal of One Meyer, this was the first time the residential property was put on sale. This attractive land received bids from more than 12 property developers ranging from small to big players. Several reasons may have led to that situation. First, One Meyer is well located next to the upcoming Katong Park Station set to be operational in year 2023 which is part of the Thomson East Coast line. Next, the site has a seafront and wonderful clear view of the Katong Park, just five stops away from Raffles Place and Shenton Way. This enables the future residents of One Meyer, e.g., cyclist, to reach the CBD via the cycling track of the beach. Sustained Land Ltd successfully acquired the bid with S$69 million paid. (Under|According to|Based on} the Master Plan, One Meyer site occupies 23,400 sq ft with the gross plot ratio of 2.1, and its land rate is estimated to be about S$1409 considering the development charges as well. Sustained Land plans to develop the ten storey high One Meyer into an 18 to 24 storey high accomodating up to 65-unit each having an average size of 753.5 sq ft. The gross profit ratio will shift from the current 2.09 to 2.1 if they obtain authorities' approval.
One Meyer situates at the crossroad of Meyer Place and Meyer Road in Katong which is a place known for many private properties. Lots of transport options are available to get to One Meyer, both public and private. Long travelling time by bus to other places of Singapore will be shortened with the operation of Thomson-East Coast Line by 2023. One Meyer will be served by Katong Park MRT, right at the doorstep. Driving to major places of interest in Singapore is also not a long journey with Singapore Sports Hub less than 7 minutes and CBD/Changi Airport no more than 15-min via ECP. While 23,400 square feet is not classified as a big condo project, One Meyer provides privacy and exclusivity. This one block building with the glass-facade appearance will for sure become the brightest star in Mayer Road. With reference to price list of 2-bedrooms, One Meyer should be a good deal if launch price is about S$2300-S$2400 according to competitive market analysis. Seaside Residences, a 99 year leasehold project, transacted at average of S$1900psf, is located in Bayshore, right at the opposite end of East Coast.
As for shortfalls - as a not-so-big condo project means One Meyer may not get to include so many varieties of facilities that other bigger projects own, notably The Belvedere and The Waterside nearby.
City Developments (CDL) and Hong realty (a subsidiary of the Hong Leong Group) bought ownership of Amber Park Condo in the en-bloc sale in Singapore.
Being the fact that the en bloc sale drawed attention of big bidders in the field, CDL eventually won the bid with Amber Park Price reaching S$906.7 million in single of the largest JV in the local. The sale price of Amber Park CDL translates to a land ratio of approximately S$1,515 per square feet per plot ratio according to the allowable GPR of 2.8 without development fees on the redevelopment. Hong real estate and Cityzens Development list the 200-unit involved with Hong real estate owning a 20% stake of the project.
Based on the 2014 master plan, Amber Park site occupying about 213,670 sq ft is a area for residential purposes. Every of the individual owner of the condo will receive gross sales proceeds averaging between S$4.3 million and S$8.3 million. As the original developer of the prior 200-unit Amber Park condo built in 1986, CDL claim that they understand the greatest what is suitable for the place. The developer intentions to redevelop the place to house luxury condos including up to four 25-storey buildings accommodating about 800 units plus a car park in the basement, a concept subject to approval. According to CDL, many of the units at Amber Park condo will be designed with a North-South facing orientation which allows the future residents of Amber Park condo to enjoy the stunning seaview. The upcoming iconic landmark is anticipated to be an ideal investment deal to reach the residential Market of Singapore. The unparalleled development place will benefit both investors and CDL in view of the fact that 999-year properties in Singapore are scarce. when completed, the Amber Park condo definitely provides a perfect place for people who work in the area to pocess an awesome living experience.
Amber Park condo is well situated in a mature area making it a highly sought after area. With many ongoing projects in the same area, Amber Park has potential which will offer lots of benefits to the residents. Additionally, the strategic location also allows Amber Park to enjoy the excellent connection to other areas of Singapore and access to many amenities. This neighbourhood is known for the rich cultural heritage and delicious foods, and is minutes away to malls such as Parkway Parade and I12 Katong, and reputable schools such as Tao Nan and Ngee Ann Primary, Tanjong Katong Primary, and CHIJ (Katong). Amber Road, as well as the surrounding private residential area, has long had a loyal following, from both locals and expats for its location: minutes walk to the sea and to East Coast beach, and within 15 minutes drive from the Raffles CBD, Marina Bay, and Changi Airport. In addition to appealing locational characteristics, a unique advantage of the place is its freehold status, one thing that is becoming increasingly scarce in Singapore, said Mr Sherman Kwek, CEO-designate of CDL. With all these factors including the stunning sea views, as well as its proximity (290 metres, no more than 4 minutes walk) to the upcoming Tanjong Katong MRT station due for completion in 2023, healthy demand is expected for this condo.
City Development Ltd is a prominent real estate developer doing business in numerous regions around the world. The Singapore listed developer has built its presence in 100 locations covering 28 countries as well as territories. It is also one of the biggest companies with regard to market capitalization with a stable income and a varied portfolio which covers serviced apartments, hotels, offices, shopping malls and integrated developments. The developer has operated in the real estate industry exceeding 50 years providing services in real estate management, investment, and development. In the past, the company has built over 40, 000 homes and it owns a lum sum of 18 million square feet lettable floor area globally. Its key localities of operations include Singapore, Australia, Japan, UK, and China. CDL’s London based and listed subsidiary, Millenium & Copthorne Hotels plc is a top lodge chain globally. It has more than 135 hotels globally situated in key gateway cities. With a proven track record of 50 years, CDL has built more than 40,000 homes globally and got numerous prestigious awards, such as, Quality Excellence Awards, Building and Construction Authority Awards, Workplace safety and Health Awards, etc. For over 20 years, the company has been working for green innovations to construct bold and inspiring green buildings for a brighter future. With such proven reputation, future home owners of Amber Park can expect a luxury home to live in upon completion.
Real estate market is extremely alert on policy adjustments like maximum loan eligibiity and also construction costs. Interest rates for sure may quickly swing the variety of sales that are fulfilled during any quarter of the year. When assessing Haus on Handy condo, increasing interest rate will reduce the sales, but rate reduction will certainly help the purchases of house. This is an essential reality in the realty company as this could definitely lead to quick adjustments in earnings from the purchases that may be landed up at. With this in mind, the time to buy a condominium that appears unoccupied might be when the property mood is low. A hot real estate market will make a business worth much more, as their earnings will be higher during this time. Of course if you follow this practice, you will have to suffer downturn in the marketplace. An additional view the purchase or start-up a real estate company is the state licensing needs.
The majority of states have serious demands for real estate agents. These state mandated procedures to an occupation in the real estate organisation would have to be met before a business can be started. This is not a company that could be tipped into by purely paying out some loan.
A representative could decide having her own firm, pouring considerable efforts into it. When a prospective proprietor has these actions out of the means, discovering an existing business to acquire will certainly be in order. A quick check of property business categories shows that they are generally discovered in larger cities and also the asking rate is considerable. There are additionally resales of franchise firms. Just typing into an online search engine, "Property organisations offer for sale", developed this quick check. A purchaser may also chat to business brokers as well as existing estate brokers in his city. An in place real estate company is benefits as the name is already known and will obtain customers due to this. Building a company from the ground up you do not own the edge. An existing business with a number of areas will likely come with a higher rate tag than what you might begin your very own company.
Another course of action to acquire ownership would certainly be purchasing into an existing company. That may work if you own strong connection with the existing master. Potential issue is you will certainly not have the last say in a lot of choices.
A real estate firm might grow professional in accquiring as well as marketing business suburban or commercial property, farmland as well as ranches, farm item processing plants, rental properties and also shopping. Actually a broker might reduce out a specific niche market that are readily spare in the definite estate company. Some real estate companies have designated task forces that manage certain kinds of real estate marketing.
If you want to learn more on Dhoby Ghaut, where Haus on Handy is located - Dhoby Ghaut is a area in Singapore that often refers to the Dhoby Ghaut MRT Station, a major interchange station on Singapore's Mass Rapid Transit network. As a area, Dhoby Ghaut lies along the eastern end of Orchard Road and is twinned with its namesake in India. There is a shopping mall above the MRT station called Plaza Singapura.
Until the early 1900s, the dhobis used water from a clear stream that flowed into Sungai Bras Basah, now Stamford Canal. This stream now exists as a large drain beside Handy Road. The ghats, or steps leading down to the stream, were demolished when Sungai Bras Basah was canalised. The dhobis would then dry the laundry at Dhoby Green, the open park bounded by Stamford Road, convenient Road, Bras Basah Road and Prinsep Street.