The latest bidding which is now in alert is the residential site which is at Woodleigh lane situated near the Bidadari housing estate. Around 15 bidders had taken part in putting a tremendous bid of $700.7 million with CEL unique development, Heeton & KSH and making it about $1,110 per square foot on a per plot ratio. Hereby clean and clear competition is seen with proof as the fight between the two bids of first and second were under a tight margin of about 0.8 percent. Not only these two bids but the other top four bids were on a tight competition as well with a 3.6 percent tight margin.
At present, units which are available near to this place are indeed being sold for a lesser price than this. At just an average price of $1,400 per square feet Forest Woods and Poiz residences were offering this rate as a fairly good mark. A mixed used Bidadari site was put to bid by Kajima development and Singapore press holdings at a rate of $1,181 per square feet.
KSH and Chip Eng Seng which is listed further went on to state that they had planned over to build a large structured Singapore condominium which consists of 16 storied residential unit blocks towards the Woodleigh site comprising with a total which adds up to 800 units.
Verwood Holdings of City Development have come together with Logan Property to enter the third highest amount of bid of $688.1 million. Now that’s fairly a large sum to bid over. The result was called “unsurprising” by the head of CBRE research of Singapore and south East Asia Mr. Desmond Sim, as this site has always been highlighted as one of the high profiled or high standard area from the beginning which is being situated just right next to the MRT station at Woodleigh and also within the surrounding if the fore and upcoming project of the Bidadari precinct.
Businessman have been thoroughly vigilant about the future projects and strive to work towards achieving higher standards by trying to restock their lands in order to keep their business stable and running. The bidding competition is the thirst bidders have in order to secure a unit for themselves for greater benefits in future.
One specific factor which is capable to keep the entire property market intact is indeed the resell market. If at any mean the resell market realizes or finds it in a tough situation to pair up or match its fare along with those in the new house sale market, this could probably attract some more demand towards the resell market in the upcoming and future project as well.
During an important seminar which was held last week by the real estate developers seminar, some hard core players of this industry described about the aggressive land bidding stating that there will only be one winner per site and as each tender process goes into leaving a massive amount of pure capital in the sidelines which is thereby waiting for deployment into the land parcel next.
Other Nearby New Launches
Upcoming new launch condos
- Shunfu Condo | Marymount Condo
- Martin Modern