Real Estate

Normanton Park enbloc sale launched: reserve price of S$800m or S$898 psf ppr

THE tender for the collective sale of Normanton Park, near Science Park and Kent Ridge Park, has been launched. The reserve price is S$800 million, which translates to S$898 per square foot per plot ratio.

This unit land price is inclusive of two payments that the developer of the 660,999 square foot site will have to make to the state. One is an estimated differential premium of S$225.3 million…

Park West condo owners eye S$750m in third try at collective sale

OWNERS of condominium project Park West are hoping that third time’s the charm in their collective sale attempt, this time at an expected selling price of S$750 million.

They saw a strong start on Saturday when signatures from around 30 per cent of owners by share value and strata area were collected on their first meeting to approve the collective sales agreement. Huttons Asia was also appointed…

Freehold Katong plot could fetch up to $61m

A freehold plot in Katong has been put up for sale – another sign that the property sector is on the rebound.

Analysts expect keen interest for the site at 12 Amber Road, which is sandwiched between condominiums Amber Skye and King’s Mansion. It is near the upcoming Tanjong Katong MRT station that will be on the Thomson-East Coast Line due for completion in 2023.

Marketing agent JLL said that it…

Sim Lian tipped to have bid S$970m for Tampines Court

SIM Lian Development is believed to have placed a bid of S$970 million for the collective sale of Tampines Court.

On Tuesday evening, Huttons Asia, the marketing agent for the privatised HUDC (Housing and Urban Development Company) estate, said the tender for the site, which closed at 3 pm the same day, received a bid of that sum – above the reserve price of S$952 million.

Terence Lian, who heads…

Roxy to build River Valley block with more than 100 units

ROXY-PACIFIC Holdings plans to redevelop a freehold plot in River Valley Road, which it bought for S$110 million, into an apartment block of at least 18 storeys and housing more than 100 units.

The price paid by the developer for the 28,798 sq ft site opposite the Yong An Park condo works out to about S$1,582 per square foot per plot ratio (psf ppr), inclusive of an estimated development charge…

Signs of new vigour in the property market

Comments from CapitaLand’s chief executive officer Lim Ming Yan last week that there are signs the private residential market could be bottoming out made market watchers sit up for its positive tone from Singapore’s largest property player.

The comments jive with a range of data pointing to an uptick in the market. The latest second-quarter numbers from the Urban Redevelopment Authority (URA)…

Privatised HUDC estate Florence Regency in Hougang could be next collective sale

SINGAPORE – En bloc fever is getting even hotter with privatised HUDC estate Florence Regency in Hougang likely to be put up for collective sale soon.

The approval level from owners at the 336-unit project is nearing the requisite 80 per cent mark.

The Straits Times understands that three other former HUDC developments – Laguna Park, Pine Grove and Ivory Heights – have also started the collective…

En bloc fever back in Singapore, with 7 collective sale transactions this year

SINGAPORE – It’s a fever that last swept Singapore in 2011 before property cooling measures introduced in 2013 cooled it.

Now, it looks like the collective-sale fever has hit again, with deals flowing fast and thick in the past two months.

Six residential developments and an industrial complex have already been sold en bloc – far exceeding the three deals done in all of 2016. (more…)