Wednesday, September 26, 2012

Check out these possible bidding results for the 3 GLS sites launched for sale


An analyst reveals his expectations of the winning bid and number of bidders for each site. Here are the comments from Png Poh Soon, Head of Research at Knight Frank Singapore:

1. Sengkang West Way / Fernvale Link (Parcel B) (EC)

Expected winning bid : $295 to $310 psf ppr
Expected selling price : $720 to $750 psf
Expected number of bidders: 5 to 7 bidders
Although located 2 km away from Sengkang MRT station, this site encompasses some positive attributes, such as its close proximity to Sengkang Riverside Park with park connectors to Punggol Waterway, and well-connected to Tampines Expressway.
More activities are expected in this area over the next 1 to 2 years upon completion of the nearby HDB estates, H20 Residences and other facilities, including Aerospace Park slated for completion next year and The Seletar Mall at Fernvale LRT Station slated for completion by the end of 2014.

2. Pasir Ris Drive 3 / Pasir Ris Rise (EC)

Expected winning bid : $295 to $305 psf ppr
Expected selling price : $740 to $750 psf
Expected number of bidders: 5 to 7 bidders
We expect cautious bids from developers due to the expected strong competition coming from adjacent condominium developments such as Sea Esta, Ripple Bay, Watercolours and Seastrand. As at August 2012, the four projects still have about 385 unsold units in total. In addition, the EC market is becoming more competitive as the government injects more EC land supply into the market. Competition also comes from new launches in Punggol and Sengkang areas, which are attracting buying interest for the improved amenities and facilities.

3. Alexandra Road / Alexandra View (Parcel B)

Expected winning bid : $900 to $930 psf ppr
Expected selling price : $1,680 to $1,750 psf
Expected number of bidders: 4 to 6 bidders
The Alexandra/Redhill area is viewed as one of the prime locations with its close proximity to central downtown. Notwithstanding that, there has been an increase in land supply in the vicinity with 3 land sites sold over the past 10 months, we foresee land bids for this site to be competitive as developers seek well- located sites in the central region. 



Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
Email: marshe_inc@yahoo.com.sg
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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