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Thread: URA awards site near Tanah Merah MRT at S$434.6m

  1. #1
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    Default URA awards site near Tanah Merah MRT at S$434.6m

    http://www.todayonline.com/Business/EDC121022-0000081/URA-awards-site-near-Tanah-Merah-MRT-at-S$434,6m

    URA awards site near Tanah Merah MRT at S$434.6m

    Updated 05:00 PM Oct 22, 2012


    SINGAPORE - The Urban Redevelopment Authority on Monday awarded the tender for a housing site in New Upper Changi Road to Keppel Land unit Sherwood Developments, which beat ten other bidders with its highest bid of S$434.6 million.

    The site was launched for sale under the Confirmed List of the Government Land Sales programme. Located within an established private housing estate and close to Tanah Merah MRT Station, the 99-year leasehold site has an area of 343,171 sq ft and a maximum gross floor area of 549,078 sq ft. The tender closed last Tuesday.

    "When awarded the site Keppel Land plans to develop about 700 homes ranging from 500 to 1,400 sq ft in one- to four-bedroom configurations," said the developer, whose bid translates to S$791 per sq ft per plot ratio.

    Mr Lee Sze Teck, Senior Manager of Training, Research and Consultancy at DWG, noted at the close of tender that Sherwood's bid was 7.1 per cent higher than the second best bid from Bayfront Land, a joint venture between Fragrance Group and World Class Land.

    The estimated breakeven is between S$1,150 and S$1,200 psf, while the selling price could be in the range of S$1,400 to S$1,450 psf, higher than the average selling price of S$1,300 to S$1,400 psf at eCO in Bedok South, he added.

  2. #2
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    Huat arrrr.....

  3. #3
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    geez....what a shame i thought they going to award to the lowest bidder...

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    Bayfront Land, a joint venture between Fragrance Group and World Class Land.
    Wow, so Fragrance almost won their 2nd plot in this area?

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    Quote Originally Posted by price
    Wow, so Fragrance almost won their 2nd plot in this area?
    No lah, Sherwood aka keppel land won it, u missed first para?

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    Quote Originally Posted by bakasa2002
    No lah, Sherwood aka keppel land won it, u missed first para?
    dude please read my post carefully.

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    Quote Originally Posted by price
    Wow, so Fragrance almost won their 2nd plot in this area?
    Pai say, yes. They won at 676 ppr for plot beside optima, a good 17% cheaper...

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    Quote Originally Posted by bakasa2002
    Pai say, yes. They won at 676 ppr for plot beside optima, a good 17% cheaper...
    hahaha, wat i meant was. Fragrance is actually trying to bid for this 3rd plot of land and they actually lost by 7% only! wonder what will they build if they had won.

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    Being a developer is also stressful, because land price, material and labour costs are all going up. If landbank is fully used up, then the developer and the employees really have to eat grass.

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    if fragrance had won, build another Parc Rosewood lo

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    Quote Originally Posted by carbuncle
    if fragrance had won, build another Parc Rosewood lo
    haha maybe Parc Tanah for their first plot and Parc Merah for the second.

    Since they almost won this plot, im sure they will be actively bidding on upcoming land sales. These 2 fragrance and world class brothers are aggressive / expanding really fast.

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    Quote Originally Posted by carbuncle
    if fragrance had won, build another Parc Rosewood lo
    Build Another Frangrance HOTEL Like Hotel 81 !

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    Quote Originally Posted by wendytan
    Build Another Frangrance HOTEL Like Hotel 81 !
    It's a residential site lah

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    Quote Originally Posted by price
    haha maybe Parc Tanah for their first plot and Parc Merah for the second.

    Since they almost won this plot, im sure they will be actively bidding on upcoming land sales. These 2 fragrance and world class brothers are aggressive / expanding really fast.
    So shd buy fragrance shares?

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    Quote Originally Posted by bakasa2002
    So shd buy fragrance shares?
    haha bro u like me property haven't buy thinking of buying shares..

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    Quote Originally Posted by bakasa2002
    So shd buy fragrance shares?
    I thought only their hotels are listed?

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    Quote Originally Posted by price
    I thought only their hotels are listed?
    how was your trip to JB?

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    Quote Originally Posted by Laguna
    how was your trip to JB?
    I oso went jb yday
    .
    .....




    .
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    .
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    Jor Bo

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    weather is steamy hot here why sandy is ravaging on us east coast and earthq on pacific coast ...
    Ride at your own risk !!!

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    Quote Originally Posted by Laguna
    how was your trip to JB?
    not too bad, went 满足爽 for massage @ Sentosa and cheap Karaoke session @ KSL

    u should join me next time!

  21. #21
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    Quote Originally Posted by price
    not too bad, went 满足爽 for massage @ Sentosa and cheap Karaoke session @ KSL

    u should join me next time!
    I go KSL for show and massage as well
    where is 满足爽, addres u hv?

  22. #22
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    Let me suggest the names

    The Crimsons by Fragrance Land
    Ride at your own risk !!!

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