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URA to launch tender for residential site at West Coast Vale

The Urban Redevelopment Authority (URA) has accepted an application from a developer to put up the residential site at West Coast Vale for sale by public tender.

This comes after the developer committed to bid a price of not less than S$ 379.988 million in the tender for the site.

“As the minimum price committed by the developer is acceptable to the government, the site will be released for sale by public tender,” said the URA.

With a maximum permissible gross floor area of 54,857 sq m, the 1.9ha site was made available for sale on the reserve list of the second half 2017 Government Land Sales Programme.

Tricia Song, head of research for Singapore at Colliers International, noted that the West Coast Vale site has been triggered for sale despite the abundance of new and upcoming supply within the area.

“We think this is probably due to the brisk sales chalked up at 752-unit Parc Riviera which is now 87 percent sold as of October 2017, at a median price of S$ 1,250 psf, since it was launched in November 2016,” she said.

“Next to the Parc Riviera site is a new, yet-to-launch project Twin Vew – which can yield 570 units – that was sold in February 2017 to China Construction at S$ 592 psf per plot ratio (ppr).”

Song expects the top bid for the site to stand at “about S$ 443 million to S$ 472 million (S$ 750 to S$ 800 psf ppr), with a selling price of S$ 1,300 to S$ 1,375 psf”.

The trigger price of S$ 379.988 million translates to S$ 643.5 psf ppr, she added.

Meanwhile, the URA revealed that the public tender for the land parcel will be launched in about two weeks, while the tender period for the site will be about six weeks.

This article was edited by Romesh.

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HDB, EDB call largest solar leasing tender

Artist’s impression of HDB blocks at Punggol Northshore, which will have solar-ready roofs. (Photos: HDB)

Aggregating multi-agency demand for the installation of solar panels across 27 government sites and 848 Housing and Development Board (HDB) blocks, HDB, along with the Singapore Economic Board (EDB), called the third and largest solar leasing tender under the SolarNova programme.

The tender will see the installation of solar photovoltaic (PV) systems of 50 megawatt-peak (MWp), up 25 percent from the previous two SolarNova tenders which required the installation of 40 MWp of solar PV systems.

The present tender will also involve more HDB blocks, with tenderers required to optimise the roof space for solar panel installation.

The solar energy harnessed will be used to power common services within the HDB estates such as lifts, pumps and lighting in common areas, helping town councils to moderate the hike in maintenance and operating costs due to inflation.

Playing a key role in supporting the city-state’s effort in promoting sustainable development, HDB have made steady progress in building solar capabilities, said Dr Cheong Koon Hean, chief executive officer of HDB.

“Today, HDB is the largest stakeholder in solar PV installation, having committed to fulfil over 60 percent of the 350 MWp of solar capacity that Singapore has planned to achieve by 2020,” she said.

And with the third tender, HDB is on track to achieve its goal of “rolling out 220MWp of solar panels across 5,500 HDB blocks by 2020”.

The tender will close on 31 January 2018, and is slated to be awarded in the second quarter of 2018.

Meanwhile, the installation of the solar PV systems is set to be completed by the second quarter of 2020.

This article was edited by Keshia Faculin.

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Royalville’s tender closing date extended to 30 Nov

Royalville is a freehold apartment development completed in 1988 which comprises of 93 units. (Photo: Edmund Tie & Company)

The tender closing date for Royalville at Bukit Timah Road will be extended from 10 November to 30 November, revealed its marketing agent Edmund Tie & Company.

Nestled on a 16,181.5 sq m (174,176 sq ft) site, Royalville has a gross plot ratio of 1.4 and was zoned for residential use under Master Plan 2014.

The development enjoys excellent accessibility and connectivity as it is located near Sixth Avenue MRT Station as well as various lifestyle destinations like Holland Village, The Grand Stand, the Singapore Botanic Gardens and Dempsey Hill. Nearby schools include Methodist Girls’ School (Primary), Raffles Girls’ Primary School, Nanyang Primary School, Henry Park Primary School, National Junior College and Hwa Chong Institution.

Well served by expressways and major roads such as Pan Island Expressway (PIE), Bukit Timah Expressway (BKE), Bukit Timah Road, Sixth Avenue, Dunearn Road, Eng Neo Avenue and Holland Road, the site also enjoys excellent connectivity to the central business district and the Orchard Road shopping belt.

The site has been launched for collective sale by owners for $ 368 million, which works out to a land rate of $ 1,509 psf per plot ratio (psf ppr), with no development charge payable.

“Inclusive of additional 10 percent bonus balcony area and development charge of approximately $ 1.16 million, the land rate works out to $ 1,376 psf ppr,” said Edmund Tie & Company.

 

This article was edited by Keshia Faculin.

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