The first state land tender for a prime 99-year leasehold site in Holland Drive since 2018 attracted three bids on May 14, with a top bid of $805.4 million cast by a consortium led by UOL Group and CapitaLand Development.
If awarded the tender, the consortium plans to develop two 40storey condominium towers on the District 10 site, which can yield 680 units and is next to the One Holland Village mixed-use development, a spokesman said.
The consortium, Holly Development, comprises CapitaLand Development (35 per cent), UOL (35 per cent), Singapore Land (20 percent) and Kheng Leong (10 per cent). Its bid works out to a land rate of $1,285 per sq ft per plot ratio (psf ppr).
GuocoLand and two entities of Hong Leong Group Singapore Intrepid Investments and Hong Realty came in second with a bid of $765.3 million, or $1,221 psf ppr.
Japura Development, an entity linked to Hong Kong billionaire Li Ka Shing's CK Asset Holdings, came in third with its $632 million bid.
"With the top bid being just 5.2 per cent above the second bid, this shows that despite the challenging environment, there are parties with resources still contesting for sites with good attributes," said Knight Frank Singapore's head of research Leonard Tay.
Diese Geschichte stammt aus der May 15, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 15, 2024-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
THE NEW BERNABEU A REAL PROBLEM
Locals and neighbourhood residents hate noise from concerts and construction work
Japan seek to beat the heat and Saudi Arabia
HONG KONG - Japan face second-placed Saudi Arabia in Group C of Asia's third round of World Cup qualifiers in Jeddah on Oct 10, looking to continue their prolific start as top-of-the-table clashes take centre stage across the continent.
Police investigating Spanish pair over protests in S'pore
A Spanish man and woman in their 30s are assisting the police with investigations after photos appeared on social media of the man holding a banner in various parts of Singapore to protest against Singaporean business magnate Peter Lim, who owns Spanish top-tier football club Valencia.
FROM SAUDI SPLURGE TO SPENDING SLUMP
Football transfer outlay drops in 2024 as officials assess the commercial returns
Future looks bright for America's Cup: Ainslie
BARCELONA - Sailing has a great opportunity to develop as a sport if the America's Cup can involve more frequent events and evolve the boats now being raced, according to British skipper Ben Ainslie.
Sport can be 'solution multiplier' for climate
LONDON – Sports clubs and organisations must raise their game and become leaders in the battle to prevent catastrophic climate change, Sport England chairman Chris Boardman said on Oct 8.
SINNER TO BE GIVEN NO QUARTER
Medvedev vows to put up a better fight against world No. 1 in Shanghai last eight
Ryder Cup captains won't exclude LIV Golf players
NEW YORK - Ryder Cup captains Keegan Bradley and Luke Donald said on Oct 8 that they will not shy away from including LIV Golf players in their respective teams for the 2025 biennial showdown between the United States and Europe.
MISTY SWIFT EARNS EVEN MORE FANS AT TRIALS
Ex-Kranji runner No More Delay also struts his stuff at hit-outs
MediShield Life can be made more effective. Its review holds the key
We must incentivise outpatient treatment and accept that, in some cases, personalised medicine can save lives.