Results 1 to 5 of 5

Thread: URA to market Ophir-Rochor site at global property fair

  1. #1
    Newbie
    Join Date
    Feb 2007
    Posts
    366

    Default URA to market Ophir-Rochor site at global property fair

    URA plans to promote Ophir-Rochor corridor at MIPIM, Cannes
    By Channel NewsAsia | Posted: 10 March 2008 1241 hrs


    SINGAPORE- The Urban Redevelopment Authority has announced its plans for the Ophir-Rochor corridor.

    The project is expected to be developed over the next ten to 15 years as part of plans to rejuvenate the Central Business District.

    It will feature a mix of offices, hotels and other complementary facilities in a park-like environment.

    The first land parcel in the new Ophir-Rochor corridor will be launched for sale in June via the Confirmed List of the Government Land Sales Programme.

    This 2.74 hectare site is adjacent to Parkview Square, which is located between Rochor Road and Ophir Road. It will include a requirement to develop a minimum quantum for office and hotel use.

    This will help boost the tourism industry and cater to the growth of Singapore's financial and business services sector.

    URA said that this Ophir-Rochor corridor will be "the catalyst for future development and growth in the area".

    Plans for development of the Ophir-Rochor corridor and sale site will be exhibited and promoted at the Singapore Pavilion during the "Marche International des Professionals de L'Immobilier" (MIPIM) between 11 and 14 March 2008.

    MIPIM is a premier international property event in Cannes. The Singapore Pavilion will see a mix of public-private companies, led by URA.

    This is part of URA's continuing efforts to attract foreign investors to property development and investment opportunities in Singapore.

    Singapore's real estate investment opportunities in Ophir-Rochor and Marina Bay will be jointly promoted at MIPIM Cannes.

    The Singapore Pavilion will also promote Singapore's key recent and upcoming developments. - CNA/vm

  2. #2
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Re: URA plans to promote Ophir-Rochor corridor at MIPIM, Cannes

    Published March 11, 2008

    Ophir-Rochor corridor site to be marketed in France

    By ARTHUR SIM


    THE Urban Redevelopment Authority (URA) will market the first site in the new Ophir-Rochor corridor at the 'Marche International des Professionals de L'Immobilier' (MIPIM), a premier international property event in Cannes, France.


    Attractive: The Ophir-Rochor area will create opportunities for the development of open courtyards and plazas in a park-like setting

    The site will be launched for sale under the Confirmed List of the Government Land Sales Programme in June.

    In a statement yesterday, URA said the 2.74-hectare parcel is at Rochor Road/Ophir Road, adjacent to Parkview Square.

    It also said the developer will have to include a minimum amount of office and hotel space to cater to the growth of Singapore's financial and business services sector and tourism.

    Depending on market demand, URA will release more redevelopment sites in the Ophir-Rochor area over the next five to 10 years. URA will be exhibiting plans for development of the Ophir-Rochor corridor at MIPIM Cannes.

    Depending on demand URA will release more redevelopment sites in the area over the next five to 10 years.

    A team led by URA, and comprising public sector agencies and private companies, will showcase investment opportunities, including key recent and upcoming developments, at the Singapore Pavilion.

    'With some of the most prominent upcoming developments and strategic sale sites that Singapore has to offer in Marina Bay and Ophir-Rochor, I am confident we will continue to attract international investors,' said URA's director of land administration Choy Chan Pong.

    Besides plans for the Ophir-Rochor corridor, URA will exhibit plans for the extension of the existing financial district at Marina Bay.

    As part of the plan to rejuvenate and grow the existing Central Business District, URA has released more plans for the Ophir-Rochor corridor to complement the Marina Bay area, featuring mixed-use developments with offices, hotels, residential and other complementary facilities in a park-like environment.

    It is expected to be developed over the next 10 to 15 years.

  3. #3
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Re: URA plans to promote Ophir-Rochor corridor at MIPIM, Cannes

    March 11, 2008

    URA to market Ophir-Rochor site at global property fair

    By Jessica Cheam



    SINGAPORE'S urban planner is going international to market the Ophir-Rochor district - touted as the nation's next development hot spot.

    The Urban Redevelopment Authority (URA) said yesterday that it will market a major site in this 'new growth area' at a renowned annual global property event in Cannes, from today till Friday. The 2.74ha site for office, hotel and other uses could fetch up to $1.4 billion, a property analyst estimates.

    A URA-led team of local agencies and companies such as the Housing Board, Singapore Tourism Board and property developer City Developments (CDL) will exhibit and showcase property investment opportunities at the fair - the Marche International des Professionnels de L'Immobilier.

    The Government last year unveiled plans to rejuvenate the hotchpotch Ophir-Rochor area with its mix of commercial buildings and old shophouses.

    This is part of a masterplan to double the size of Singapore's financial district to that of Hong Kong at about 2.82 million sq m of office space, National Development Minister Mah Bow Tan said in Parliament last month.

    The Ophir-Rochor corridor will complement the financial district at Marina Bay and Raffles Place, surrounded by a vibrant arts and entertainment scene, said the URA.

    The site, between Rochor and Ophir roads and surrounding Parkview Square, will go on sale in June, and is expected to yield 495 hotel rooms and 139,740 sq m of commercial space.

    The URA said the site will have a minimum requirement for office and hotel use, and is the second to be released in the district.

    Last September, a CDL-led consortium that included Middle East investors won the tender for a 3.5ha site at $1.689 billion to build an eco-friendly mixed-use project - South Beach - designed by world- renowned British architect Norman Foster and his partners.

    Property analysts say the upcoming site is likely to garner international interest.

    Savills Singapore's director, Mr Ku Swee Yong, said the site is the 'best piece this year' - likely to get at least five bids. He estimates the land cost, based on certain assumptions, to be up to $1.4 billion, or $700 to $800 per sq ft per plot ratio.

    Chesterton International head of research and consultancy Colin Tan said the property fair will keep Singapore's property scene on the global radar, but he expressed concerns about big projects adding to the current strain on resources.

    The URA has been participating in the French fair since 2002. It is one of the world's largest real estate exhibitions, attracting about 26,000 delegates from 74 countries each year.

  4. #4
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Re: URA plans to promote Ophir-Rochor corridor at MIPIM, Cannes

    URA to market first sale site at Ophir Rochor district in June

    By Wong Siew Ying, Channel NewsAsia | Posted: 11 March 2008 0123 hrs


    SINGAPORE : The Ophir Rochor area is undergoing a revamp.

    And a landmark development has been planned for this new office district.

    The Ophir Rochor district has been slated to be a new growth extension from the Marina Bay area.

    The first plot next to Parkview Square will be released for sale in June as part of the government land sales programme.

    Analysts expect the 2.74-hectare site to provide some 1.6 million square feet of space for a range of uses.

    Mr Donald Han, Managing Director of Cushman & Wakefield (Singapore), said: "The proportion will be something like close to 500 rooms for hotel. That's probably suitable for a 4-star hotel, potentially even 5-star, and if you look into the office component, it would be slightly in access of 1.3 or maybe 1.4 million gross floor area."

    Industry watchers expect the development to be completed in two to three years, with rentals going at about half of that in prime financial districts, at between 8 and 10 dollars per square foot.

    The URA will be marketing the Ophir Rochor site at an international real estate exhibition in Cannes on March 11-14.

    Analysts say the opening up of the Rochor Ophir corridor will become a catalyst for more sites to be developed in the area.

    They also expect to see some collective sales in the near future, as older buildings in the vicinity get a makeover, to keep up with the times.

    Mr Han added: "If you look at Rochor Road, Beach Road, it's quite a mix bag of new and old. Particularly the old ones, there are a lot of strata title developments where there is really not much incentives among owners wanting to upgrade.

    "The fact that there is now a landmark development coming in, land values will be recognised at the end of the day and when there is an increase in terms of land value, there will be an increase in desire to redevelop."

    The URA will continue to release more land in the Ophir Rochor area over the next five to 10 years, in tandem with market demand. - CNA/de

  5. #5
    Any complaints please PM me
    Join Date
    May 2006
    Posts
    8,129

    Default Re: URA to market Ophir-Rochor site at global property fair

    Tuesday, March 11, 2008

    URA says bonjour to major developers

    Neo Chai Chin

    New Ophir-Rochor land parcel marketed at premier property event in Cannes

    [email protected]


    A PRIME land parcel enveloping Parkview Square in Bugis may soon draw more top developers to Singapore, just as the Beach Road and Marina View parcels did last year.

    The 2.74 ha site, along Rochor and Ophir Roads, will comprise office and hotel space, said the Urban Redevelopment Authority (URA), which is pitching it to an international audience in France over the next three days.

    The site could be worth $1.2 to $1.48 billion, according to property analysts.

    Marketing it at a premier property event the annual Marche International des Professionals de L'Immobilier in Cannes is "good branding and also a move to see if there are large investment funds interested in developing Singapore's streetscape", said Mr Ku Swee Yong of Savills Singapore.

    The land parcel, which will be up for sale in June, is the first in the new Ophir-Rochor corridor to be launched under the Government's land sale programme.

    Plans were earlier announced for this vibrant growth area comprising financial and business institutions, hotels and residential facilities in a park-like setting that will complement the financial district at Marina Bay and Raffles Place.

    More land parcels in the Ophir-Rochor area will be released for development over the next five to 10 years "in tandem with market demand", said the URA.

    About 40 per cent of the first development could be commercial space, while 60 per cent of it could be devoted to hotel and retail space, said Mr Ku, Savills' director of marketing and business development.

    It may consist of a 500-room hotel on par with the nearby Intercontinental, with retail outlets on the lower levels and 1.2 million to 1.4 million sq ft of office or commercial space, said Mr Donald Han, managing director of Cushman and Wakefield.

    Mr Han deemed it as attractive as last year's Beach Road site, which was clinched for $1.69 billion by a three-nation consortium led by City Developments.

    While South Beach at Beach Road is "more prestigious" as it straddles Suntec City and Raffles City, the Ophir-Rochor site is "equally attractive" for being on the fringe of the Central Business District, its good waterfront views and proximity to Bugis MRT, he said.

    Marketing it at the present time would also give new investors time to do due diligence of the Singapore market before the parcel is launched for sale, he said.

    URA has been marketing prime sites more aggressively to international players for the past three to four years, said a spokesperson.

    Last year, major investors like Dubai's Istithmar Group, the United States-based El-Ad Group and Macquarie Global Property Advisors (MGPA) ventured into Singapore's land tender market. Istithmar and El-Ad were part of South Beach's winning consortium, while MGPA, partly owned by Australia's Macquarie Group, clinched the Marina View plots.

    Mr Ku said that he would like to see more developments in Singapore by renowned companies from Japan and Europe to "give a better international flavour to our landscape".

Similar Threads

  1. Replies: 1090
    -: 16-01-20, 14:24
  2. Offer price for SC Global fair: independent advisers
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 2
    -: 27-12-12, 22:40
  3. CapitaLand eyes buildings in Ophir-Rochor project
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 18-07-11, 18:46
  4. Ophir/Rochor Rd white site for sale
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 1
    -: 01-07-08, 11:43

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •