Singapore's Urban Redevelopment Authority and Housing & Development Board are selling three residential sites that could yield roughly 1,880 units.
A 99-year leasehold site at Dairy Farm Road sits on 19,647.5 square meters of land and can offer up to 500 housing units with a maximum gross floor area of 41,260 square meters. The plot is zoned for residential with commercial space at the first floor.
Two other 99-year leasehold sites, one at Sims Drive and an executive condominium property at Tampines Avenue 10, are available for sale on the reserve list and may be launched in the event that there is a minimum acceptable bid, said the Urban Redevelopment Authority in a release.
For the Dairy Farm Road plot, Huttons Asia head of research Lee Sze Teck anticipates seeing up to 10 bidders with the highest bid falling between S$900 and S$1,000 per square foot per plot ratio, according to a report by The (Singapore) Business Times. Over at Colliers International, the head of research for Singapore Tricia Song expects the plot to receive an offer between S$880 to S$950 per square foot per plot ratio.
Similarly, consultants estimate offers for the 16,225.3-square-meter plot at Sims Drive to reach S$1,200 per square foot per plot ratio, while the executive condominium site, spanning 24,938.7 square meters, is expected to garner a S$600 top bid, according to Teck.
The close of the tender for the Dairy Farm Road plot is slated for Sept. 4, according to the release.
Separately, the June 1 report by The (Singapore) Business Times noted that the Dairy Farm is collecting the required consent for an en bloc sale at an over S$1.68 billion asking price, or a minimum land rate of S$1,100 per square foot per plot ratio, including the development charge.
As of May 31, US$1 was equivalent to S$1.34.
