Forgot your password?
or

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at feedback@srx.com.sg

ON TRACK

Achieve the life you want, in the home you love
Property News06 Dec 2017

FCL makes $955.4m bid for ex-Zouk site

zouk

Frasers Centrepoint Limited (FCL) trumped nine other bidders with an offer of $955.4 million for a residential plot in Jiak Kim Street, the former site of popular nightspot Zouk.
And Allgreen Holdings emerged top among seven bidders for a residential parcel in Fourth Avenue, lodging a tender of $552.96 million.
The two 99-year leasehold sites were on the Reserve List of the Government Land Sales programme and were triggered for public tender after minimum acceptable bids were made.

Frasers Centrepoint Limited (FCL) trumped nine other bidders with an offer of $955.4 million for a residential plot in Jiak Kim Street, the former site of popular nightspot Zouk. And Allgreen Holdings emerged top among seven bidders for a residential parcel in Fourth Avenue, lodging a tender of $552.96 million. The two 99-year leasehold sites were on the Reserve List of the Government Land Sales programme and were triggered for public tender after minimum acceptable bids were made.

Allgreen Properties picked up two collective sale sites in Bukit Timah last week, including Royalville.
The bullish bids come after warnings from the Government on over-exuberance in the property market.
"Despite the authority flagging the risk of excessive exuberance... the bidding for choice sites has not shown any sign of slowing," said Cushman & Wakefield research director Christine Li.

Ms Tricia Song, research head for Singapore at Colliers International, said the strong showings for the Jiak Kim Street and Fourth Avenue sites "clearly reflect bidders' confidence in a recovering... market amid the positive economic outlook".
Frasers Centrepoint Singapore chief executive Christopher Tang said the Jiak Kim Street site is "a rare location in a cosmopolitan locale, filled with rich heritage and character, sitting right on the edge of the Singapore River".

Market watchers felt that the aggressive price Allgreen paid for Royalville could have deterred some developers from bidding for the site in Fourth Avenue. Still, having seven bidders is considered a respectable showing, Ms Li said.
JLL head of research and consultancy Tay Huey Ying noted that the batching of tender closings for the two sites "appeared to have helped spread the competition for each site, and potentially taming the bids somewhat".
She added: "Interestingly, local developers continue to maintain their hold on the prime district market, pipping foreign developers such as China's CSC Land and Hong Kong tycoon Li Ka-shing's Japura for the two sites in Jiak Kim Street and Fourth Avenue, respectively."
Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
MY PROPERTY
CONCIERGE
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
ON TRACK
Property News 25 May
Liang Seah Street, Little India shophouses for sale and auction

Three adjoining shophouses at 33 Liang Seah Street have been put up for sale via private treaty at $30 million, marketer Colliers International said yesterday.

The three units, which have multiple tenants, are on a single land title within the Beach Road Conservation Area and are zoned commercial and residential.

Property News 24 May
Balestier Regency up for collective sale at $218m

Balestier Regency, a 72-unit condominium complex off Balestier Road, was launched for collective sale by tender yesterday, with a minimum expected price of $218 million, Teakhwa Real Estate said.

The indicative price translates to a land rate of $1,264.90 per square feet per plot ratio (psf ppr), including a development charge of $1.35 million.

The land price will fall to about $1,220.90 psf ppr if the 10 per cent bonus balcony area is included, Teakhwa said.

Property News 23 May
HDB puts on sale 3,970 BTO flats in Sengkang, Yishun, Toa Payoh and Tampines

THE Housing Board (HDB) launched 3,970 Build-To-Order (BTO) flats across four projects in Sengkang, Yishun, Toa Payoh and Tampines on Tuesday, in the second such exercise this year.

Prices without grants range from S$76,000 for a two-room Flexi flat in non-mature estate Yishun, to more than S$422,000 for a five-room flat in mature estate Tampines.

About 17,000 BTO flats are expected this year.

Property News 21 May
Buyers snap up 70 units at Le Quest Phase Two launch on Saturday
SINGAPORE - Le Quest, a Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok, sold 70 units on the first day of its Phase Two sales. Qingjian Realty has offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview.

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
Sevi
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.