Land Tender for Siglap Road Seaside Residence

The latest tender in Siglap Road has gather a total of 8 bids for the plot land beside upcoming Siglap Road MRT and the top bid came from Frasers Centrepoint Limited, Sekisui House and Keong Hong Holdings. All 3 developers are not new to the local property scene and is is noted that Fraser Centrepoint Homes is one of the most reputable developers in Singapore.

Seaside Residences Tender

According to the URA tender notes, the prime site for Seaside Residences next to East Coast Parkway has a land size of 207,849 sqft and is one of the largest site offered by Government Land Sales Programme this year by Frasers Centrepoint Homes Seaside Residences. The gross floor area based on the height restrictions is 727,474 sqft and has the potential to yield around 800 to 900 units depending on the size of the unit set by the developer.

Siglap Road URA Tender

Bid details for the plot of land indicate that there are 4 developers who are particularly keen on the plot of land as their bids are high and are of very narrow range to one another. The submitted bids are only 7% difference which suggest that the developers are optimistic on the plot of land and therefore aggressive in the submission of bids in an effort to secure the land for development. A walk around the plot of land indeed shows that the tender site is very close to the upcoming Siglap MRT Station. Also, Seaside Residences has unblock views of the East Coast due to the location and there is no hindrance of any residential blocks in front of the development.

East Coast Park Land Tender

Due to the nature of the land for Siglap MRT Seaside Residences, most of the units for the tender site will have either the unblock sea frontage view or the Marine Parade view. This also means that developer are also aggressive on the bids given that it has been a long time since such prime sites are available under the Government Land Sale Programme. Usually, such plots of land are only available through en bloc of older developments but it is noted that because of the new ruling that there are qualifying charges for unsold units, developers prefer to still buy land from the government due to the shorter tender period.