The first state land tender for a prime 99-year leasehold site in Holland Drive since 2018 attracted three bids on May 14, with a top bid of $805.4 million cast by a consortium led by UOL Group and CapitaLand Development.
If awarded the tender, the consortium plans to develop two 40storey condominium towers on the District 10 site, which can yield 680 units and is next to the One Holland Village mixed-use development, a spokesman said.
The consortium, Holly Development, comprises CapitaLand Development (35 per cent), UOL (35 per cent), Singapore Land (20 percent) and Kheng Leong (10 per cent). Its bid works out to a land rate of $1,285 per sq ft per plot ratio (psf ppr).
GuocoLand and two entities of Hong Leong Group Singapore Intrepid Investments and Hong Realty came in second with a bid of $765.3 million, or $1,221 psf ppr.
Japura Development, an entity linked to Hong Kong billionaire Li Ka Shing's CK Asset Holdings, came in third with its $632 million bid.
"With the top bid being just 5.2 per cent above the second bid, this shows that despite the challenging environment, there are parties with resources still contesting for sites with good attributes," said Knight Frank Singapore's head of research Leonard Tay.
この記事は The Straits Times の May 15, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Straits Times の May 15, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
RealVantage breaks down walls in real estate investing for the masses
Real estate fund targets investments in middle market real estate assets
CROATIA LIFT CONFIDENCE
They beat Portugal 2-1 away in final friendly before Euro, sending warning to Spain, Italy
Jacobs wants to go faster after retaining 100m title
Home favourite Marcell Jacobs vowed to improve his time and technique ahead of the Paris Olympics after he retained his European 100m crown in Rome as Italy basked in their bountiful weekend with five golds to surge to the top of the medal table.
Workers from dorms drinking, sleeping by roadside at night
Motorists say they endanger themselves and other road users with such behaviour
US 'standing strong' with Ukraine in Russia battle, Biden vows
In a swipe at Trump, he emphasises value of US-European alliances on state visit to France
Seoul accused of modern slavery with seasonal worker scheme
Filipino workers say brokers charged steep fees, cheated them out of promised wages
Terrorist attacks dampen Chinese interest in key corridor project with Pakistan
Political instability, economic distress in the country causing serious delays, say analysts
Proposal to allow pets on China’s trains draws cheers and jeers
Some welcome prospect of trips with pets, but others raise objections over fur, faeces
Layoff worries mount as Indonesia sees flood of illegal imports
Smuggled goods compete unfairly with locally made products, economists say
Malaysia's data centre push sparks concern over power, water usage
It could strain supplies in the coming years, particularly in industrialised states: Experts