A lesser known government land sale (GLS) land parcel near Sembawang Park at Jalan Kandis attracted a impressive 9 bids on 7 April 2016 from small and large developers, like Nanshan Group Singapore Co, KSH Development, Allgreen Properties and TA Corporation - showing the affordable nature of the land price and the attraction of its location, although the site is not near transportation nodes or amenities.
Dillenia Land, a unit of Tuan Sing Holdings, submitted the top bid of about $51.1 million, or $481 per sq ft per plot ratio, for the 0.7ha plot slightly higher than the second-highest bid of $50.2 million by China developer - Qingjian Realty.
Business Times reported William Liem, chief executive of Tuan Sing Holdings saying they propose an exclusive project in a quiet, green estate near the water with about 130-140 units (two bedrooms and larger units) targeting primarily at families, launching by end of 2016. They estimate to price between $1,000 - $1,100 psf to attract upgraders from nearby estates in the Sembawang and Canberra area.
Business Times reported William Liem, chief executive of Tuan Sing Holdings saying they propose an exclusive project in a quiet, green estate near the water with about 130-140 units (two bedrooms and larger units) targeting primarily at families, launching by end of 2016. They estimate to price between $1,000 - $1,100 psf to attract upgraders from nearby estates in the Sembawang and Canberra area.
Desmond Sim, head of CBRE Research told the Business Times that when completed, this project will be the only non-landed project within a two-km radius in a precinct that is predominantly landed.
Tuan Sing chief financial officer Chong Chou Yuen noted after yesterday's tender closing that while the company has land bank in China and Perth, it has none left in Singapore. In fact, we currently see many developers with low or no land bank for development in Singapore especially where are also fewer GLS land tender sales this year compared with last year or 2014.
Tuan Sing chief financial officer Chong Chou Yuen noted after yesterday's tender closing that while the company has land bank in China and Perth, it has none left in Singapore. In fact, we currently see many developers with low or no land bank for development in Singapore especially where are also fewer GLS land tender sales this year compared with last year or 2014.
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