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

The offer for the 99 year lease term locations was released on 15June in the Confirmed Checklist of the 1st half ’21 GLS program.

Hyll on Holland Condo Price

El Development offered the number one proposal of $3hundred 20 point 1 mil or $1,246 psf ppr for Land A, that reaches 7,957.3 sq meters. The plot has an optimum GFA of 23,872 sq m plus can generate 2hundred 65 homes units with a commercial cap of Eight hundred sq meter in GFA.

“The main offer was literally merely 1.3 percentage higher than the following greatest proposal from Gao Xiu Hua, who topped the tender for Plot B,” shared CBRE’s Head of Research for S.E.A. Tricia Song.

Gao Xiu Hua, who is believed to be the spouse of the Chairman of Kingsford Development, tendered the top tender for Land B at $162.4 million or $1.21K per sq foot ppr. This main tender was Two point Four percent higher than the 2nd greatest bid from TID Residential.

Stretching over 5,936.6 square meter, the plot has a maximum gross floor area of 12,467 sq meter plus may supply 1hundred 40 private households including a retail limit of 4hundred sq m in GFA.

“Parcel A’s property price is exceeding Land B’s, likely due to Plot A’s shorter proximity to the Buona Vista train station,” Tricia further mentioned.

She accredited the powerful attention for the spots to its “remarkably appetizing measurements, the rising catchment at the rising one-north R&D firm hub, as well as restricted brand new property amount inside of the proximity”.

In fact, the plots outmatched a previous residence location at Slim Barracks Rise, that reaped a high proposal of $1.001K per sq feet per plot ratio at the time of the end of its offer in Sept2K19.

It was ultimately developed into One-north Eden, the apartments of which were generally sold at an average amount of $Two thousand 9 psf, mentioned Tricia.

For the two spots, Tricia anticipates the projects to be advertised at above $2thousand 1hundred psf as soon as kicked off.


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