28 Sep '15, 4pm

New: Singapore Property News This Week #227

A housing site at Lor Lew Lian, which was put on the reserve list of the Government Land Sales (GLS) has been triggered for tender—a first in the last 21 months. Based on estimates stated in the current H2 2015 GLS Programme, the 99-year leasehold site may be developed into a 465-unit private condo project. An unnamed developer had made a minimum bid of $250 million or $552.93 psf of potential gross floor area. This commitment has led to the release of the site for tender. Located near Serangoon MRT Station, the 1.4 ha site has a maximum gross floor area to land area ratio of 3.0. The tender is expected to be launched next month according to the Urban Redevelopment Authority. Wong Xian Yang from OrangeTee.com predicts that there would be about 6 to 12 bids for the site. He believes the top bid would be around $590-630 psf ppr. On the other hand, Alan Cheong from Savills be...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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