El Development and Gao Xiu Hua submit top bids for Slim Barracks Rise GLS sites

The tender for the 99 year leasehold sites was launched on 15June in the Verified Listing of the first half 2K21 GLS program.

El Dvlpmt submitted the premier offer of $320.1 mil or $1,246 psf per plot ratio for Parcel A, that extends 7,957.3 square m. The plot owns a maximum GFA of 23 thousand 8hundred 72 square metre and also can provide 2hundred 65 flats units with a commercial cap of Eight hundred sq m in gross floor area.

“The premier proposal was literally just One point Three percent exceeding the second greatest offer from Gao Xiu Hua, that peak the offer for Land B,” stated CBRE’s Head of Research for S.E.A. Tricia Song.

Avenue South Residence Condo Price

Gao Xiu Hua, who is speculated to be the partner of the Chairman of Kingsford Dvlpmt, submitted the main offer for Plot B at $1hundred 62 point 4 million or $1thousand 2hundred 10 psf ppr. This particular top tender was 2.4 % more than the 2nd greatest proposal from TID Home.

Extending 5,936.6 sq m, the plot has an utmost GFA of Twelve thousand Four hundred Sixty Seven sq m furthermore could offer 140 exclusive houses including a commercial cap of 4hundred square metre in gross floor area.

“Plot A’s land premium is higher than Plot B’s, likely due to Land A’s closer vicinity to the Buona Vista MRT station,” Tricia beefed up.

She credited the strong curiosity for the sites to their “comparatively palatable measurements, the growing catchment at the rising one-north R&D enterprise hub, as well as restricted new apartments supply inside the vicinity”.

The spots defeated a former home site at Slim Barracks Rise, that acquired a highest offer of $1.001K psf ppr during the end of its offer in September’19.

It was ultimately become One-north Eden, the apartments of that were advertised at an average amount of $Two thousand 9 psf, spoke Song.

For the two plots, Tricia imagines the development to get marketed at beyond $Two thousand One hundred psf while opened.


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