Marina View white site attracts one bid

The tender for the white plot at Marina View wrapped up on Tuesday 21September, with Blvd View becoming the only one bidder for the 99 years land rental site.

At a publicity, the URA expressed: “This is not a news of tender grant. A verdict on the verdict of the tender will be conducted after the offer has actually been assessed. This will definitely be published during a future date.”

Professionals observed that Boulevard View’s proposal of $1.508 billion or $One thousand Three hundred Seventy Nine per sq ft ppr is the exact quote value that set off the spot to get freed out of the GLS programme’s Reserve Selection.

The 7,817.6 spot is expected for mixed-use property consisting hotel, residence, business and/or serviced apartments. It can yield 905 private residence units, Five hundred Forty accommodation living areas together with 2,000 square metre in gross floor area of commercial zone.

The Watergardens Singapore

Huttons Asia CEO Mark Yip mentioned it is definitely the first bid to captivate just one offeror since the Circuit Breaker.

“The previous instance a Government Land Sales tender saw one bidder was actually for a plot at Silat Avenue in 2018,” he further mentioned.

Tricia Song, Head of Research for SE Asia at CBRE, mentioned the only bid for the site remains in complete comparison to the competitive bidding seen in the five rural or city perimeter residence spots.

These include Tampines Street 62, Lentor Central, Ang Mo Kio Ave 1, Tengah Garden EC also Northumberland spots, which drew in 7 to Fifteen offers for each development with tender costs going over expectations.

Tricia associated the lacklustre attraction with regards to the location to “the larger quantum of more than $1.5 billion land value, near-term uncertainness over the CBD workplace and holiday accommodation markets, as well as competition from properties that are unsold and undeveloped fresh source from rebuilts inside the community”.

Having land tenders just within the Outside Central Region attaining $1.204K psf ppr and also Int’l Plaza going en bloc for $2.170K psf per plot ratio, Mark marked that Boulevard View’s $1thousand 3hundred 79 psf per plot ratio offer resembles on the cheap range, that might be deemed opportunistic by the Govt.

And due to the fact that there is no other offeror to get the plot, this gives the Govt another justification not to award the spot, he claimed.

Add Comment

Your Email address will not be published

error: Content is protected !!