Sengkang Central site attracts seven tenders

Romesh Navaratnarajah22 Jun 2018

Location map of Sengkang Central site crop

Location map of the land site at Sengkang Central. Source: URA

The tender for a residential and commercial site in Sengkang Central measuring approximately 401,008 sq ft closed on Thursday (21 June), said the Urban Redevelopment Authority.

The 99-year leasehold site with a maximum gross floor area of 842,125 sq ft could yield some 700 housing units. It also has strong potential to become a landmark in the area, said CBRE research head Desmond Sim.

More: URA Launches Tenders For Sengkang Central, Hillview Rise Sites

The confirmed list site was launched for sale last December via the concept and price tender system, whereby envelopes containing the concept proposals are opened and evaluated first.

The criteria includes the design concept, quality of public realm and the developers’ track record.

Thereafter, the envelopes containing bid prices will be opened, but only those with qualifying concept proposals will be considered, with the site awarded to the highest bidder.

Overall, six parties submitted seven concept proposals. These include a joint venture between CapitaLand and City Developments Limited, Perennial Real Estate Holdings and Qingjian Realty, Wing Tai Holdings and Keppel Land, and Singapore Press Holdings and Kajima Development.

Property consultancy JLL noted that the site received fewer bids compared to the 247,214 sq ft Holland Road site, which was awarded in May to Far East Organization.

Nevertheless, it said the land parcel next to Buangkok MRT station attracted “fair interest” from companies with “no shortage of capability and experience in successfully designing and developing the subject parcel”.

CBRE’s Sim agrees. “The six consortia who have thrown in the bids comprise experienced developers with proven track records. We expect the selection process to be challenging and very comprehensive.”

Interested in living in Sengkang? Check out AreaInsider.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

POST COMMENT

You may also like these articles

Holland Road site attracts 15 bids

Location map of the land parcel at Holland Road. Source: URAUPDATED: The tender for a plum commercial and residential site at Holland Road in District 10 closed on Tuesday (20 Mar) after attracting st

Continue Reading21 Mar 2018

Cuscaden Road site sets new GLS record of $2,377 psf ppr

Location map of the Cuscaden Road site. (Photo: URA)The tender exercises for three residential sites closed on Wednesday (26 Apr) with relatively bullish bidding from developers, with the top bid for

Continue Reading27 Apr 2018

Holland Road site awarded to Far East-led consortium for $1.21b

Artist's impression of the future mixed-use development near Holland Village. (Photo: URA)The tender for the commercial and residential site at Holland Road has been awarded to a Far East Organization

Continue Reading17 May 2018