bargain hunter
25-07-18, 19:45
https://www.businesstimes.com.sg/real-estate/ec-site-in-anchorvale-crescent-triggered-for-launch-from-reserve-list
EC site in Anchorvale Crescent triggered for launch from reserve list
WED, JUL 25, 2018 - 7:00 PM
A 99-year leasehold site for executive condominium (EC) housing development along Anchorvale Crescent has been triggered for launch from the reserve list of the Government Land Sales (GLS) Programme.
This follows a successful application by an unnamed developer to bid at least S$255 million for the site at tender.
This works out to nearly S$461 per square foot per plot ratio.
The 1.71-hectare site can be developed into a maximum of 550 residential units. ECs are a public-private housing hybrid.
"As the minimum price committed by the developer is acceptable to the government, the site will bereleased for sale by public tender," the Housing & Development Board (HDB), acting as state land sales agent for this site, said in a release on Wednesday evening.
HDB will launch the public tender for the site in about three weeks. The tender period for the land parcel will be about five weeks.
The land parcel was first made available for sale on the reserve list of the first-half 2018 GLS Programme on June 28 this year.
A site on the reserve list is triggered for launch if a developer's indicated minimum price in its application is acceptable or there is sufficient market interest in the site.
Under the procedures for the reserve list system, the state then makes public the minimum price committed for the site by the successful applicant but does not reveal the identity of the applicant.
EC site in Anchorvale Crescent triggered for launch from reserve list
WED, JUL 25, 2018 - 7:00 PM
A 99-year leasehold site for executive condominium (EC) housing development along Anchorvale Crescent has been triggered for launch from the reserve list of the Government Land Sales (GLS) Programme.
This follows a successful application by an unnamed developer to bid at least S$255 million for the site at tender.
This works out to nearly S$461 per square foot per plot ratio.
The 1.71-hectare site can be developed into a maximum of 550 residential units. ECs are a public-private housing hybrid.
"As the minimum price committed by the developer is acceptable to the government, the site will bereleased for sale by public tender," the Housing & Development Board (HDB), acting as state land sales agent for this site, said in a release on Wednesday evening.
HDB will launch the public tender for the site in about three weeks. The tender period for the land parcel will be about five weeks.
The land parcel was first made available for sale on the reserve list of the first-half 2018 GLS Programme on June 28 this year.
A site on the reserve list is triggered for launch if a developer's indicated minimum price in its application is acceptable or there is sufficient market interest in the site.
Under the procedures for the reserve list system, the state then makes public the minimum price committed for the site by the successful applicant but does not reveal the identity of the applicant.