The leading 4 proposals obtained were all over the S$ 800 each square foot each story proportion (psf ppr) mark, which highly recommended the hostile need for land sources as well as the prospective development of the property market in the future. The prospective buyers consist of huge developers, i.e. Fraser Centrepoint, City Developments, GuocoLand, UOL as well as Hoi Hup. The greatest quote originated from a joint-consortium which includes Fraser Centrepoint, Sekisui House (that are additionally the designers for 2 various other incredibly popular tasks – North Park Residences as well as Rivertree Residences) and also Keong Hong Holdings, at S$ 624.18 m or S$ 858 psf ppr.
The cost of S$ 858 psf ppr for this Siglap Road GLS site opponents that of the GLS site alongside Parc Esta Eunos MRT Station as well as Redhill MRT Station at S$ 851 psf ppr won by Tang Skyline Pte Ltd in November 2015. This interesting 1.93-hectare Siglap Road GLS land parcel offering unequaled sea sight might include 850 domestic units anticipated to introduce around end of 2016. In April 2015, 2 stories of 99-year leasehold household land parcels were launched by Singapore's Housing Development Board (HDB) to buy under the Goverment Land Sales (GLS) program at Toa Payoh as well as Dundee Road. As anticipated by a lot of professionals, these 2 sites undoubtedly attracted a high degree of action from residential property designers. In Jan 2016, an uncommon Government Land Sales program (GLS) site at Siglap Road attracted 8 quotes in overall the other day. Specialists think that this need for land is because of the prompt requirements for residential property developers to restore their land financial institutions that is crucial for their service.