Ang Mo Kio Site sold for $381.4mil

The joint partnership between UOL Group, Singapore Land Group and also Kheng Leong Company. It has submitted the maximum bid in the tender for the website, stated URA on Wednesday (June 2).

 

Sitting on a plot region of 12,679.4Sqm reverse Bishan-Ang Mo Kio Park, the property parcel was offered for sale onto a 99-year rental duration.

 

It had been up for tender in Nov 26, 2020, to May 2021. The winning bid was 6.3 percent greater compared to last year. Second-highest bidding of $358.89 million in Titus Residential SG, a tie-up involving City Developments and MCL Land. The tender for the website was conducted last year. As compared to Normanton Park by Kingsford, the site was sold for a much lower price.

 

Noting the Amount of bids, Huttons Asia manager of study Lee Sze Teck stated: “It seems that competition for property is stiff and programmers must bid greater than $1,000 psf ppr to stand a chance of procuring land for growth.  The degree of bidding among programmers showed their assurance, and any limitation induced from the snowball is temporary”

 

Additionally final yesterday was that the tender for its maiden executive condo (EC) home site in Tengah property in western Singapore. The 99-year plot combined Tengah Garden Walk attracted seven bids. Eligibility and resale requirements which are entirely increased 10 years after the job was completed.

 

The best bid marks a listing land speed for an EC website under the Government Land Revenue programme, noticed PropNex thoughts of content and research Wong Siew Ying.  The previous high was $583 psf ppr obtained from the Sumang Walk EC website given in March 2018.

 

“As this is the initial EC website from the brand new Tengah real estate, the successful tenderer could put on a first-mover advantage once it enters the current market,” she explained. The tender to the Tengah EC website was conducted by Housing Board.


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