Yesterday, 30th January 2018, City Developments Limited (CDL) won other bidders and became the top bidder for two of three private housing sites at a state tender.
The first, Handy Road land site was purchased $212.2 million or $1.722 per sqft plot ratio. Handy Road new launch will be launched in 1st Q 2018. You can find out more information about the luxurious condo here.
The second, a land parcel in West Coast Vale, was bidden with the highest price $472.4 milion, or $800 psf ppr.
Finally, the last one, Chong Kuo Road site in Sembawang / Mandai area, which was sold for $43.95 million, or $681 psf ppr by a reputable joint-venture company between OKP Land and Lian Soon Holdings.
Sherman Kwek, CDL group chief executive said: "We... see great potential in the two sites... As Singapore's residential market begins to gradually recover, we will continue to seek suitable opportunities to increase our local land bank."
According to the CDL spokesman, Handy Road condo will come with three private residential towers - eight to ten storeys high. The condo could yield a total of 200 premium units with a myriad of the world-leading facilities include a large basement carpark, hammock garden, spa lounge, an infinity lap pool, kid pool, jacuzzi, BBQ area, dining pavilion and many more.
New condo @ Handy Road owns a strategic location when it has 4 MRT Stations surrounded. Dhoby Ghaut MRT, Fort Canning MRT, Bencoolen MRT and Bras Basah MRT at your doorstep. Just minutes' drive to Suntec, the CBD and Marina Bay.
The West Coast Vale site area will spread over two 36-storey towers, right next to Parc Riviera by EL Development and the upcoming luxurious condo by CSC Land Group, Twin Vew. The Urban Redevelopment Authority said that the future condo will come with 730 residential units.
In three sites, the price bid for Handy Road condo is the highest price because of its unique location. It's located along handy Road, very close to Orchard Road @ D9, one of the most vibrant entertainment and shopping address in Singapore.
The bid price was also just 0.6 percent shy of the benchmark price of $1,733 psf ppr that was set for the Jiak Kim Street site which awarded to Frasers Centrepoint last month, Tricia Song, Colliers International's head of Singapore research noted.
She estimates CDL's break-even cost for a Handy Road project at $2,300 psf and reckons the group could be looking at an average selling price of $2,650 psf.
She added that the price bid of City Developments Limited for the West Coast Vale plot was 35 percent higher than the upcoming Twin Vew site, which was $592 psf ppr. Tricia also estimates CDL's break-even for the West Coast Vale plot at $1,250 psf and an average selling price of $1,400 psf to $1,500 psf. The group's bid was just 0.7 percent more than the next highest bid, by China Construction (South Pacific) Development.
Besides the upcoming Handy Road and West Coast Vale site, The Tapestry is one of the impressive developments of City Developments Limited on Singapore' property market in early 2018. The Tapestry (former Tampines Ave 10 (Parcel C)) is situated at the junction of Tampines Street 85 and Tampines Street 86 in prime District 18. The condo location is ideal.
Please take a look at The Tapestry condo location to see its prime address @ Tampines. Strategic? Convenient? Unique? All are available at Tapestry CDL. GET IN TOUCH WITH US to get the best price, discount or register your VVIP Preview. Hurry up!!!
From The Tapestry condo, you can go to the Central Business District just 5 mins via the upcoming Tampines West MRT, Pan Island Expressway or Tampines Expressway. It takes you just a few minutes to various popular shopping centres, food courts and restaurants in this area like IKEA, Century Square, Tampines One and Our Tampines Hub.
Because of locating in the heart of Tampines area, Tapestry condo Tampines creates a unique position and sets a new benchmark for urban city living.
The Tapestry @ Tampines owns a unique location where everything around you and your family. What about its internal amenities and layouts? Yes! CDL will develop the condo with a plethora of the 5-star facilities, more than 50 impressive utilities with 100m continuous lap pool, a 50m lap pool, family pool, BBQ area, Infinity Gymnasium, Spa, etc and a childcare centre await you. Come to Tampines Ave 10 new launch and enjoy a new living standard.
With a total of 861 exclusive residential units and plenty of the luxurious selections from 1 to 5 bedrooms, The Tapestry CDL offers you with a resort-lifestyle living. If you're looking for a tranquillity riverfront living, but also connect to city fringe, The Tapestry is your BEST destination.
If you have any inquiries for CDL's HOTTEST developments in the first quarter of 2018, please keep your interest and CONTACT US for the official information in details. The Tapestry @ Tampines, Handy Road condo or West Coast Vale new launch, TELL US which one you will choose! Don't miss!!!
Adapted from The Straitstime, 31 Jan 2018.