On the 21 June 2023, the government announced the Government Land Sales (GLS) Programme for the second half of 2023 (2H2023), which comprises eight Confirmed List sites and nine Reserve List sites. These sites can yield about 8,590 private residential units, 98,250 sqm gross floor area (GFA) of commercial space and 530 hotel rooms.
Of the sites announced, the Zion Road Parcel B land plot was amongst the sites under the Reserve List, with more information on the land plot available in Dec 2023.
| Item | Details |
|---|---|
| Location | Zion Road (Parcel B) |
| Planning Area | Bukit Merah |
| Land Use | Residential (Non-Landed) |
| Est Site Area | 0.92 ha |
| Gross Plot Ratio | 5.6 |
| Est. Housing Units | 605 |
| Sales Agent | URA |
| More Land Details Available | Dec 2023 |
| PARAMETERS | PROVISIONS / REQUIREMENTS |
|---|---|
| Site Area | 9,287.8 m2 (Subject to final cadastral survey) |
| Land Use / Zoning | Residential |
| Type of Proposed Housing Development | The proposed residential development shall be for a combination of: a. Condominium; or b. Flats; or c. With prior written approval, a combination of flats and strata landed houses. Serviced Apartments and Serviced Apartments II (SA2) will not be allowed. |
| Permissible Gross Floor Area (GFA) | Overall GFA Maximum GFA: 52,012 m2 Minimum GFA: 46,811 m2 |
| Building Height (Maximum) | 240.0 m SHD |
Credit : Streetdirectory.com
7 Aug 2024
1. The Urban Redevelopment Authority (URA) has awarded the tenders for the four sites at Canberra Crescent, De Souza Avenue, Zion Road (Parcel B) and Margaret Drive to the respective highest tenderers, namely Peak Nature Pte Ltd and Huatland Development Pte. Ltd. for the site at Canberra Crescent; SL Capital (8) Pte Ltd for the site at De Souza Avenue; Valerian Residential Pte. Ltd. for the site at Zion Road (Parcel B); and Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. for the site at Margaret Drive.
2. The sites at Canberra Crescent and De Souza Avenue were launched for tender on 16 April 2024, while the site at Zion Road (Parcel B) and Margaret Drive were launched on 13 May 2024 and 30 May 2024 respectively. The tenders for the sites at Canberra Crescent, De Souza Avenue and Zion Road (Parcel B) closed on 18 July 2024, while the tender for the site at Margaret Drive closed on 1 August 2024. All four sites were offered for sale on 99-year lease terms.
3. Details of the four awarded sites and the respective successful tenderers are provided below.
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) ($PSF of GFA) |
| Canberra Crescent | Residential | 20,435.8 m² | 32,698 m² | Peak Nature Pte Ltd and Huatland Development Pte. Ltd. | $279,000,800.00 ($8,532.66 psm ppr) ($792 psf ppr) |
| De Souza Avenue | Residential | 19,245.4 m² | 30,793 m² | SL Capital (8) Pte Ltd | $278,900,000.00 ($9,057.25 psm ppr) ($841 psf ppr) |
| Zion Road (Parcel B) | Residential | 9,285.9 m² | 52,002 m² | Valerian Residential Pte. Ltd. | $730,088,888.00 ($14,039.63 psm ppr) ($1,304 psf ppr) |
| Margaret Drive | Residential | 9,522.3 m² | 39,994 m² | Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. | $497,000,000.00 ($12,426.86) ($1,154 psf ppr) |
19 July 2024
The only other offer for the site, from units of Hong Leong Group, came in at S$1,180.54 psf ppr
ROBERT Kuok’s Allgreen Properties placed the top bid for a 99-year leasehold private housing site in Zion Road, near the group’s Great World City mixed development, at a state tender on Thursday (Jul 18).
Allgreen unit Valerian Residential’s bid of nearly S$730.09 million – or about S$1,304 per square foot per plot ratio (psf ppr) – was the higher of two bids received for the site at the Urban Redevelopment Authority (URA) tender, in yet another display of lacklustre interest from developers in private housing sites amid heightened business risks.
18 July 2024
The Urban Redevelopment Authority (URA) closed the tender for the 3 sites at Canberra Crescent, De Souza Avenue and Zion Road (Parcel B) today.
The sites at Canberra Crescent and De Souza Avenue were launched for public tender on 16 April 2024. The site at Zion Road (Parcel B) was on the Reserve List of the Government Land Sales Programme. URA had, on 18 April 2024, accepted a successful application for the site to be put up for sale and it was launched for public tender on 13 May 2024. The 3 sites were offered for sale on 99-year lease.
This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
The above 2 bids translates to the following values in PSF PPR:
14 May 2024
The Urban Redevelopment Authority (URA) has released a residential site at Zion Road (Parcel B) for sale today under the Reserve List of the first half 2024 (1H2024) Government Land Sales (GLS) Programme.
Reflecting continued market interest in GLS sites, this site received a successful application from a developer for tender launch, with a commitment to submit a bid not lower than a minimum bid price of $604,567,890 in the tender. The successful application follows the award of five GLS residential sites in the year to date, including the adjacent site at Zion Road (Parcel A) last month.
To cater to demand, the Government has increased the Confirmed List supply of private housing in the GLS programme to 5,450 units in 1H2024, from 4,090 units in 1H2023 and 5,160 units in 2H2023. This is the highest supply on the Confirmed List in a single GLS Programme since the 2H2013 GLS Programme. In addition, the Government has made available a total supply of 3,460 residential units in the Reserve List of the 1H2024 GLS programme, to allow developers to activate more sites for tender launch if they assess that there is demand.
Other Details
The tender for the Zion Road (Parcel B) site will close at 12 noon on 18 July 2024.
The tender closing for this site will be batched with the two residential sites at Canberra Crescent and De Souza Avenue, which were launched on 16 April 2024 under the Confirmed List of the 1H2024 GLS Programme. Any tender below the minimum bid price of $604,567,890 will not be accepted.
22 Apr 2024
The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the Residential site at Zion Road (Parcel B) for sale by public tender. This is a Reserve List site on the first half 2024 (1H2024) Government Land Sales Programme.
URA has received an application from a developer for the site to be put up for public tender. The developer has committed to submit a bid not lower than a minimum price of $604,567,890 in the tender for the land parcel. As the minimum price committed by the developer is assessed to be acceptable to the Government, the site will be released for sale by public tender.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in May 2024 and close the tender in July 2024.
Details of the land parcel
With a land area of about 0.9 ha, the Residential site at Zion Road (Parcel B) will have a maximum permissible gross floor area of 52,002 m2 and can yield about 610 private residential units.
Minimum offer of S$1,080 psf ppr is about 10 per cent under Zion Road site awarded last week
22 Apr 2024
THE Urban Redevelopment Authority (URA) has released a Zion Road site for sale from its reserve list, after receiving an application committing to a bid not lower than about S$604.6 million.
The launch of the tender for Zion Road (Parcel B) comes on the heels of URA’s recent sale of a larger neighbouring site in Zion Road. Parcel A was awarded to a City Developments Ltd-Mitsui Fudosan joint venture (CDL-Mitsui JV) at its sole bid of S$1.1 billion or S$1,202 per square foot per plot ratio (psf ppr).
CDL-Mitsui’s bid for the Parcel A site was both below expectations and 30 per cent lower than a comparable state land site across the road.
Zion Road (Parcel B) comes out of the reserve list in the Government Land Sales (GLS) programme for the first half of 2024. Reserve list plots are only released for sale if a developer puts in an offer of a minimum price that is acceptable to the government and if there is sufficient market interest.
The reserve Zion Road site, which can yield some 610 new private homes, was triggered for sale after a developer made an application to commit to submit a bid at the minimum price of S$604,567,890, URA said on Monday (Apr 22). It did not disclose the identity of the developer.
Credit : The Business Times
21 Jun 2023
The Confirmed List supply of private housing in the GLS programme has been further ramped up by 26% in 2H2023 compared to 1H2023.
With the 2H2023 supply, the total Confirmed List supply of around 9,250 units for the whole of 2023 will be the highest in a decade.
Complementing the property market cooling measures, this supply injection will bring the total pipeline supply of private housing (including ECs) to about 63,500 units, and cater to resilient demand.
| S/N | Location | Site Area (ha) | Proposed GPR | Est Residential Units | Est Hotel Rooms | Est Comm. Space (m2) | Est Available Date | Sales Agent |
|---|---|---|---|---|---|---|---|---|
| Residential Sites | ||||||||
| 1 | Lentor Gardens | 2.06 | 2.1 | 500 | 0 | 0 | Available | URA |
| 2 | Senja Close (EC) | 1.01 | 3.0 | 295 | 0 | 0 | Available | HDB |
| 3 | Holland Drive | 1.23 | 4.7 | 680 | 0 | 0 | Nov-2023 | URA |
| 4 | De Souza Avenue | 1.91 | 1.6 | 350 | 0 | 0 | Nov-2023 | URA |
| 5 | Tampines Street 95 (EC) | 2.25 | 2.5 | 560 | 0 | 0 | Nov-2023 | HDB |
| 6 | Zion Road (Parcel B) | 0.92 | 5.6 | 605 | 0 | 0 | Dec-2023 | URA |
| Commercial Sites | ||||||||
| 7 | Punggol Walk | 1.00 | 1.4 | 0 | 0 | 13,350 | Available | URA |
| White Sites | ||||||||
| 8 | Woodlands Avenue 2 | 2.75 | 4.2 | 440 | 0 | 78,000 | Available | URA |
| Hotel Sites | ||||||||
| 9 | River Valley Road | 1.02 | 2.8 | 0 | 530 | 2,000 | Available | URA |
| Total (Reserve List) | 3,430 | 530 | 93,350 | |||||
21 Jun 2023
Land supply for private housing has been further beefed up for the second half of 2023, taking the total confirmed supply for the year to its highest in a decade.
In all, the eight sites on the confirmed list of the Government Land Sales (GLS) programme announced on Wednesday will yield about 5,160 private residential units, including 560 executive condominium (EC) units, and 4,900 sq m gross floor area (GFA) of commercial space.
