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Thread: Second sale site in Jurong Lake District in two weeks' time

  1. #1
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    Default Second sale site in Jurong Lake District in two weeks' time

    From URA's New
    15 March 2011

    URA to launch the tender for the second sale site in Jurong Lake District in two weeks' time

    The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the second sale site in Jurong Lake District for sale via public tender.

    The 1.8 ha land parcel located along Boon Lay Way, next to the Jurong East MRT station, was made available for sale through the Reserve List system on 29 October 2010. URA has received an application from a developer for the site to be put up for public tender. The developer has committed to bid at a price of not less than S$510 million in the tender for the land parcel. In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released.

    URA will launch the tender for the land parcel in about 2 weeks. The launch date will be announced later. The tender period for the land parcel will be about 8 weeks.

    Jurong Lake District
    The Jurong Lake District consists of two unique but complementary precincts – Jurong Gateway and Lakeside. Occupying a total site area of 360 ha, which is about the size of Marina Bay, it will be a major regional centre in the west of Singapore, providing an attractive location for commercial developments outside the city centre and a family- friendly leisure destination by the lake. Please see artist’s impression of Jurong Lake District in Annex 1.

    The land parcel launched for sale today is located within the Jurong Gateway precinct. With a total land area of about 70 ha, the Jurong Gateway precinct will offer a good mix of office, retail, hotel, entertainment, food & beverage (F&B) and other complementary uses. The Lakeside precinct, which spreads over 220 ha of land and 70 ha of water body, is envisaged to be developed into a vibrant leisure destination with several family-friendly edutainment attractions for locals and tourists. Attractions such as a new world class Science Centre, waterfront boardwalks, wetlands, parks & promenades will be developed in the scenic lakeside setting.

    White Site at Boon Lay Way
    The subject sale site at Boon Lay Way is the second land parcel to be released for sale at Jurong Gateway, following the successful sale of the first white site at Jurong Gateway Road to Lend Lease in June 2010. It will continue the development momentum of transforming the precinct into an attractive destination for business and leisure serving more than 3,000 multinational and global businesses clustered in the nearby International Business Park and Jurong/ Tuas industrial Estates and a catchment of one million residents from the neighboring towns.

    Several government agencies will also relocate their offices to the Jurong Lake District in the near future. The Ministry of National Development (MND) had announced earlier this month that it has signed the Heads of Terms Agreement with Lend Lease to take up a 30-year lease for 29,300 sqm of office space in the adjacent white site sold last year. MND, together with its statutory boards, the Agri-Food & Veterinary Authority (AVA) and the Building and Construction Authority (BCA), will relocate to Jurong Gateway by 2015.

    With its prominent location next to the Jurong East MRT station and the Jurong East bus interchange, the subject land parcel is ideal for a sizable mixed-use development with a potential gross floor area (GFA) of about 88,980 sqm (see site location in Annex 2). To further build up the critical mass of quality office space within Jurong Gateway and provide more location choices for businesses, a minimum 40% of the maximum permissible Gross Floor Area (GFA) for the land parcel is to be set aside for office use.

    The remaining GFA may be developed for additional office use or other uses allowed under the White zoning, such as commercial, hotel and residential uses.

    Other Details
    Details of the land parcel and location plan are given in Annex 3 and Annex 4. More details of the Land Parcel are available on the URA website: http://www.ura.gov.sg/sales/BLWay/MA/BLW-intro(MA).html.
    Daft, Dafter, Dafterest!!!!

  2. #2
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    ha ha another 5% increase in property values around the area....

  3. #3
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    ooh... wonder who is this developer? If sell at good prices, all jurong and nearby area huat ah

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    there are 2 other white sites in this area if i'm not wrong, u can imagine every time a site is released, the area value increases by 5%....

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    Quote Originally Posted by Allthepies
    there are 2 other white sites in this area if i'm not wrong, u can imagine every time a site is released, the area value increases by 5%....
    does this mean botannica, carabelle etc will also appreciate since they are also near jurong lake district.. haiz i missed out on buying one there during downturn!

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    Good if it is a shopping mall with offices above.

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    Quote Originally Posted by Allthepies
    there are 2 other white sites in this area if i'm not wrong, u can imagine every time a site is released, the area value increases by 5%....
    tot only 2 sites??

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    Quote Originally Posted by ay123
    tot only 2 sites??
    u look at the 2008 master plan, there are 2 or more other white sites not yet released if i remember correctly

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    Quote Originally Posted by extremme
    does this mean botannica, carabelle etc will also appreciate since they are also near jurong lake district.. haiz i missed out on buying one there during downturn!
    yup there will have some positive effects, but those that will benefit most will be those developments nearest MRTs and 1 or 2 stops from Jurong East MRT

  10. #10
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    Below will be the developments that will benefit most.
    1) The Jade (Bukit batok mrt)
    2) Parc Oasis (Chinese garden mrt)
    3) The Madeira, Guilin View (Bukit gombak mrt)
    4) PV, lakeshore, capian, lakefront, lakeholm (Lakeside mrt)

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    Quote Originally Posted by BB
    Below will be the developments that will benefit most.
    1) The Jade (Bukit batok mrt)
    2) Parc Oasis (Chinese garden mrt)
    3) The Madeira, Guilin View (Bukit gombak mrt)
    4) PV, lakeshore, capian, lakefront, lakeholm (Lakeside mrt)
    after the news, agent start calling again. was quoted 950psf with genuine buyer for caspian. don know how true. but gave him my friend contact instead, me no intention to sell. at least now we can see jurong development start to take shape so is good for jurong

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    Quote Originally Posted by OLY99
    after the news, agent start calling again. was quoted 950psf with genuine buyer for caspian. don know how true. but gave him my friend contact instead, me no intention to sell. at least now we can see jurong development start to take shape so is good for jurong
    it will be interesting to see if caspian prices can beat double bay prices anot....one with ready Expo/CBP.....and the other buying into a future development

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    I remember when Lakefront Residences priced at close to $1k psf, everyone laff and say very expensive. Now almost every suburban launch (including far out Sengkang very far from CBD and very far from second CBD in Jurong) also $1k psf liao, and no one bat an eyelid. And those who bot Glyndebourne at $2300psf might be in bigger trouble than LR at $1k psf.

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    Quote Originally Posted by Wild Falcon
    I remember when Lakefront Residences priced at close to $1k psf, everyone laff and say very expensive. Now almost every suburban launch (including far out Sengkang very far from CBD and very far from second CBD in Jurong) also $1k psf liao, and no one bat an eyelid. And those who bot Glyndebourne at $2300psf might be in bigger trouble than LR at $1k psf.
    so lakefront afterall is reasonably priced. those who bought lakefront had made the right choice since every suburb are already selling $1k psf. after the news the price could appreciate further. is that why keppel hold on to some unrelease unit? they already know the 2nd site is gonna to be put on sale?

  15. #15
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    seller hold hold dont sell wait till the 2nd site tendered price announced...

    buyers considering buying Jurong area(those near MRT) have to make up their mind fast... after erection those area with potential possibly price will be up .. more investors will also realise singapore is one of the safest country in Asia which is well protected by natural disaster...will this push the price up further?

    I recalled a couple of months ago there was one investment company interviewed by ST on encouraging people to invest in Japn property...I dont know what is their stand now...after this incident..

  16. #16
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    More retail & commerical sites will be released for tender soon at the Jurong Lake District. Big Box project will revive soon with new investor. These factors should drive price higher after election.

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    New 'white knight' for TTI?
    by Ryan Huang Wenwu 05:56 AM Feb 10, 2011

    SINGAPORE - A new "white knight" may have emerged for debt ridden local trading company TT International (TTI).

    In a filing with the Singapore Exchange, TTI said it had entered into an exclusive non-binding Heads of Agreement with Sembawang Equity Capital (SEC).

    Under TTI's proposed agreement with SEC, both parties will jointly invest in TTI's subsidiary Big Box. Some of the terms will include TTI transferring its plot of land, including the uncompleted warehouse property, at Jurong East Street 11 to Big Box, for an estimated $95 million. This is subject to due diligence by Sembawang Equity.

    Both parties will explore the possibility of structuring Big Box into a trustee company, which both sides will have equal shareholding stakes.
    Another term of the deal will see a related corporation of SEC appointed as the turnkey contractor to complete the construction of the development on the property.

    Going forward, TTI and SEC will proceed to negotiate on the detailed terms and conditions and target to sign an investment agreement by March 31. However, this will be dependent on approval by TTI's creditors and relevant government authorities.

    The news comes two months after engineering services firm Boustead Singapore decided to drop its plans to inject $150 million into a partnership with TTI for the project.

    TTI had entered into a scheme of arrangement on April 19 last year, as part of efforts to execute a debt restructuring and repayment plan. TTI's problems began when credit facilities totalling $332 million were pulled during the financial crisis, forcing it to call for a standstill of payments.

  18. #18
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    I thought the newer developments have already factor in the JLD plan. How much more upside to it?

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