Cautious bidding expected for latest GLS sites

By Romesh Navaratnarajah: Two 99-year leasehold residential sites released under the Government Land Sales (GLS) Programme this month are expected to receive healthy interest from developers, with seven to nine bids due to their strategic locations, said Knight Frank Singapore.

Located at Commonwealth Avenue and New Upper Changi Road/Bedok South Avenue 3 (Parcel B), the sites are just next to Queenstown and Tanah Merah MRT stations respectively.

However, developers will likely be "more cautious" on the bids submitted as there are alternative sites available under the 1H2013 GLS Programme.

"If Commonwealth Avenue site is sold, the Queenstown/Redhill locale would see a total of five GLS residential sites sold. With impending large supply of private homes in this area, land bids are likely to be less competitive," said Alice Tan, Senior Manager Research at Knight Frank.

Meanwhile, the sale of the New Upper Changi Road site (pictured) would mean that four GLS housing sites would be located within that area which could generate 2,150 homes.

"This is on top of the 190 units unsold at eCO as at Nov 2012. Ample supply could lead to more measured land bids from developers as they adopt a cautious stance for land sites within the same locale," Tan added.

Both sites are expected to be developed into condominiums or flats and could yield 1,300 homes. Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg Related Stories: Govt releases two more housing sites

New home sales plunge 44%

URA awards tender for Alexandra View site

More from PropertyGuru:
Govt releases two more housing sites
New home sales plunge 44%
URA awards tender for Alexandra View site
Sembawang EC site sold for S$211.92m

Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.25810.000.00%
    USDSGD=X
    1.7402+0.0054+0.31%
    EURSGD=X
    2.1138+0.0072+0.34%
    GBPSGD=X
    81.2921-0.3818-0.47%
    SGDJPY=X
    6.1623-0.0134-0.22%
    SGDHKD=X
    2.5984-0.0028-0.11%
    SGDMYR=X
    9,256.0264-43.6582-0.47%
    SGDIDR=X
    4.9669-0.0018-0.04%
    SGDCNY=X
    1.1653-0.0006-0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,293.70+3.10+0.24%
    GCM14.CMX
    19.64-0.05-0.24%
    SIK14.CMX
    91.62-1.25-1.35%
    ^XAU
    3.120.00-0.05%
    HGK14.CMX
    101.91+0.47+0.46%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.74+0.03
    ^FVX
    2.690.00
    ^TNX
    3.460.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.123+0.001+0.82%
    B22.SI
    0.15+0.008+5.63%
    545.SI
    0.635+0.040+6.72%
    5WH.SI
    0.615+0.005+0.82%
    E5H.SI
    1.355+0.005+0.37%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    20.00+4.200+26.58%
    K6S.SI
    1.215+0.190+18.54%
    S53.SI
    0.415+0.045+12.16%
    570.SI
    1.345+0.130+10.70%
    5DA.SI
    0.154+0.014+10.00%
    5GD.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.053-0.059-52.68%
    5TF.SI
    1.62-0.520-24.30%
    N02.SI
    0.20-0.020-9.09%
    E94.SI
    0.179-0.013-6.77%
    567.SI
    0.30-0.020-6.25%
    508.SI