Month: December 2024

Investing in condos has several advantages, one of which is the potential to leverage the property’s value for future investments. This means that condo owners can use their unit as collateral to secure financing for additional investments, allowing them to grow their real estate portfolio. While this can lead to higher returns, it also comes with risks. Therefore, it is essential to have a well-planned financial strategy and to carefully consider the potential impact of market fluctuations.

The Great Room, a leading co-working space provider, has recently opened its second Australian location in Sydney. In partnership with LendLease, the new flexible workspace occupies levels 14 and 15 of the One O’Connell Street office building, spanning 25,360 sq ft. This 36-storey property, situated in the Sydney CBD, was completed in 1991.

According to Jaelle Ang, CEO of The Great Room, their collaboration with Lendlease for long-term investment and value creation will ensure that the new space at One O’Connell Street reflects a unique premium product and delivers sustainable profitability.

The Great Room first entered the Australian market earlier this year, with its inaugural location at level 29 of 85 Castlereagh Street, also in the Sydney CBD. Originating from Singapore, The Great Room now has 12 locations across Singapore, Bangkok, Hong Kong, and Sydney.

In Singapore, the operator recently expanded its footprint with the opening of Csuites Powered by The Great Room in Paya Lebar Quarter – its first outlet outside the CBD. This space, which opened in October, boasts private manager cabins, soundproof meeting rooms, floor-to-ceiling windows, and ergonomic workstations tailored for height and comfort.

Aside from providing top-notch facilities, The Great Room also hosts monthly networking sessions and panel discussions for its members. After its acquisition by New York-based co-working business Industrious in 2022, members of The Great Room now have access to 160 destinations operated by both brands in Asia Pacific, Europe, North America, and the UK.…

The government has taken steps to maintain a healthy balance between housing supply and demand by offering a total of 8,505 private residential units in the upcoming 1H2025 GLS Government Land Sales (GLS) programme. This includes 10 plots in the Confirmed List, comprising of nine residential sites and one residential cum commercial site. These 10 sites are expected to yield an estimated 5,030 residential units, including 980 executive condo (EC) units. The number of residential units being offered is in line with the 5,050 units offered in the Confirmed List of 2H2024, but almost 60% higher than the average supply on the Confirmed List in each GLS programme from 2021 to 2023.

In addition, the Reserve List includes four private residential sites, one commercial site, three White sites and one hotel site, which could potentially yield an additional 3,475 private residential units and 199,900 sqm (2.15 million sq ft) gross floor area (GFA) of commercial space. The 3,475 residential units on the Reserve List of 1H2025 are higher than the 3,090 units in 2H2024. With the inclusion of the Reserve List, the overall private housing supply of 8,505 units in 1H2025 is on par with the 8,140 units in 2H2024.

The progressive increase in private housing supply over the last three years has contributed to the stability of the private residential market, as reflected by the moderation in property price momentum. Based on the URA private residential property price index, price growth has slowed down to 6.8% in 2023 from 10.6% in 2021 and 8.6% in 2022. It is expected that private residential prices will experience more modest gains in 2024, with a cumulative price increase of around 1.6% over the first three quarters of the year.

When purchasing a Singapore condo, it is crucial to also take into consideration the maintenance and management of the unit. Typically, condos come with maintenance fees that cover the upkeep of shared areas and amenities. While these fees may increase the overall cost of ownership, they play a vital role in ensuring that the property remains well-maintained and retains its value. To make investing in a condo a more passive venture, investors can enlist the help of a property management company to handle the day-to-day management of their unit.

To cater to the stiff competition for EC sites among developers and rising EC land prices, the government has increased the supply of EC sites, with three plots potentially yielding 980 units in the Confirmed List of 1H2025. This is a shift from previous GLS programmes since 2019, where only one EC site was offered in each half-yearly land sales programme. Seven new plots will also be introduced in the 1H2025 GLS programme, including a plot at Lakeside Drive near the Jurong Lake Gardens in Jurong Lake District, Dunearn Road in the new housing precinct in Bukit Timah Turf City, and Telok Blangah Road on the former Keppel Golf Course site. These plots are expected to be highly attractive to both developers and homebuyers, as they are in close proximity to MRT stations and other amenities.

The last time three EC plots were launched for sale in a single GLS programme was in 2H2014, highlighting the government’s efforts to maintain a balance in the housing market. In addition, the URA has provided more flexibility for the residential plot in Upper Thomson Road (Parcel A), allowing for serviced apartment/long-stay serviced apartment use subject to approval from technical agencies.

It is worth noting that for the first time, URA did not award the tender for three plots – Marina Gardens Crescent, the Jurong Lake District master developer site, and plots in Media Circle (for long-stay serviced apartment use). These sites are now listed on the 1H2025 Reserve List. With the majority of the sites in close proximity to MRT stations, it is expected that these sites will be highly sought after by developers. Overall, the increase in private residential supply from the GLS programmes has contributed to market stability, and the government’s careful and strategic allocation of sites is expected to continue to maintain a healthy balance between supply and demand.…

Rewritten:
The scarcity of land in Singapore is a major factor driving the high demand for condos in the country. As a small island with a rapidly increasing population, Singapore has limited space for development. To address this issue, the government has implemented strict land use policies, resulting in a competitive real estate market where property prices are consistently on the rise. As a result, investing in real estate, especially condos, has become a highly profitable opportunity with the potential for significant capital appreciation. For more information about condos, please visit One Mind One Energy.

St William, a subsidiary of London-listed real estate company Berkeley Group, is promoting their latest residential project, Regent’s View, located in London. This unique development, situated in Zone 2, has been created through an adaptive reuse scheme, transforming a decommissioned Victorian-era gasholder site into a mixed-use development with canal-front views.

The project, which consists of 555 units, has already received global recognition, being awarded “Best Future Residential Project” at the 2024 World Architecture Festival (WAF) in Singapore. St William, in collaboration with its architect partner RSHP, has successfully repurposed the iconic gasholder frames into an integral architectural element of the new development.

Originally formed in 2014 as a 50:50 joint venture between Berkeley Group and London’s National Grid, St William’s aim is to revitalize decommissioned industrial sites into new, vibrant residential and community spaces. In 2022, St William acquired full ownership of the company after purchasing National Grid’s stake for GBP412.5 million ($705 million).

Regent’s View, one of St William’s ongoing projects, is located on a 4.5-acre site in East London’s Tower Hamlets borough. The site, formerly known as the Bethnal Green Gasholders, has been a landmark in the area since the 1850s, supplying gas to homes in the district. After being decommissioned in 2012, St William has now transformed the site into a modern mixed-use development, with two of the residential towers framed by restored gasholder structures.

The project will feature five contemporary residential buildings, ranging from six to 13 stories, surrounded by a landscaped park. Additionally, the development will include 45,000 sq ft of ground floor commercial and community space, with access to a 100m section of the canal, which has been closed to the public for over 150 years. This will activate the area with new food and beverage options.

Despite some initial controversy surrounding the redevelopment of the site, with a petition signed by over 8,000 people calling for its preservation, the Tower Hamlets council approved the project in a vote of seven-to-one. St William has spent almost five years on the project, engaging with the local community and incorporating their feedback to preserve the gasholder frames and rejuvenate the canal front through placemaking activities.

St William has also prioritized affordable housing in their development, allocating 35% of the units for this purpose. The design of the development also includes ground floor space for non-residential use, with larger gasholder buildings along the waterfront featuring commercial and community amenities, while the remaining buildings will have access to resident-exclusive spaces.

In addition to Regent’s View, St William is also redeveloping a 23-acre site in Newham, turning it into a 2,000-unit mixed-use project. The site, acquired from the joint venture with National Grid, features seven Victorian-era gasholder frames and is the largest collection of surviving gasholders of this era in the world. Development of this site is expected to begin next year.

St William has already launched the sale of The Wright Building, a six-storey block at Regent’s View, with prices ranging from GBP675,000 ($1.15 million) to GBP1.63 million. The block, which is over 70% sold, is expected to be completed next year. The second sales phase, The Westwood Building, was launched in September and features units starting at GBP585,000 for a one-bedroom to GBP1.68 million for a three-bedroom. St William expects this block to appeal to international investors, with its proximity to key educational institutions and local amenities.

Over 50% of Regent’s View’s international buyers are based in Asia, showing a growing interest in London’s city fringe neighborhoods in Zone 2. With Central London properties becoming increasingly expensive, St William believes this trend will continue as investors seek better rental premiums in these areas. The next sales phase at Regent’s View is expected to come in the second half of 2025, featuring some of the largest units with views of either the waterfront or the landscaped courtyard.…

in Singapore

Singapore’s cityscape is characterized by towering skyscrapers and advanced infrastructure that showcases the modernity of the country. Condominiums, strategically situated in desirable locations, offer a perfect combination of luxury and convenience that allures both locals and foreigners. These condos boast a wide range of amenities including swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them an appealing choice for potential tenants and buyers. For investors, these perks translate into higher rental yields and increased property values over time, making owning a Singapore Condo a wise and lucrative investment.

A 1,485 sq ft three-bedroom unit at Gambier Court in prime District 9 will be up for auction on Dec 12 by Knight Frank Singapore with a guide price of $2.6 million. Based on the unit’s floor area, this works out to $1,755 psf.

According to the records, the current owner purchased the unit in a resale transaction at $1.8 million in October 2018. This owner’s sale marks the second time the property will be going up for auction, after it was previously listed in Knight Frank Singapore’s auction on Nov 26 at a higher guide price of $2.64 million, but did not receive any bids.

Director of auction and sales at Knight Frank, Tricia Tan, notes that the owner is selling the unit to move closer to their children’s school. The property will be sold with vacant possession.

Featuring a balcony that faces northeast, the unit offers unblocked views of the sea and Singapore River. It is situated on the eighth floor and comprises three bedrooms and a study area. Originally a four-bedroom apartment, one of the previous owners converted the unit into a three-bedroom, providing the future owner with a more spacious layout, perfect for local and expat families with children.

Constructed in 1999, Gambier Court is a 99-year leasehold condo at 60 Kim Yam Road. The low-density development consists of just 21 units, including 18 apartments and three strata-landed units housed in conserved shophouses.

The development’s apartments vary in floor plan and feature two- to four-bedroom units ranging from 936 sq ft to 2,530 sq ft, while the three strata-landed units are two-storey properties with an attic spanning between 2,562 sq ft and 2,885 sq ft. Gambier Court is conveniently located within walking distance of Fort Canning MRT Station on the Downtown Line and offers close proximity to a variety of F&B and retail options, such as the new lifestyle hub New Bahru at Kim Yam Road, Robertson Quay, UE Square, and Clarke Quay.

Based on Realis caveats, the most recent transaction at the condo was for a 1,485 sq ft four-bedder unit on the seventh floor, which went for $2.5 million, or $1,683 psf, in December 2022. The seller was able to generate a profit of $600,000, having bought the unit for $1.9 million ($1,279 psf) in August 2016. To learn more about Gambier Court properties in Singapore, check out the latest listings here.…

Gallop Gables, a freehold condo, has achieved a new psf-price high of $2,299 psf during the period between Nov 19 and Nov 22. This latest high came from the sale of a 2,669 sq ft four-bedroom on the second floor for $6.14 million on Nov 20. The previous record was $2,108 psf from the sale of a 1,163 sq ft two-bedroom unit on the third floor for $2.45 million on Feb 19.

Located on Farrer Road in District 10, Gallop Gables features 102 units spread across four-storey blocks. Completed in 1997, the low-density development is within walking distance of Farrer Road MRT Station on the Circle Line.

In the second spot is The Scala, also recording a new psf-price record of $2,064 psf from the resale of a 1,259 sq ft, four-bedroom unit on the 12th floor for $2.6 million on Nov 20. The seller had bought the unit for $1.66 million ($1,318 psf) in October 2012. The condo is a 99-year leasehold development on Serangoon Avenue 3 in District 19, completed in 2013. The units are a mix of one- to four-bedroom units measuring between 474 sq ft and 2,142 sq ft. It is within walking distance of the Lorong Chuan MRT Station on the Circle Line and close to several educational institutions.

Investing in real estate inevitably brings Location to the forefront as a crucial factor, and this remains particularly true in Singapore. The value of Condos situated in central areas or in close proximity to essential amenities like schools, shopping malls, and public transportation hubs tend to appreciate at a higher rate. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values. With the added advantage of being close to good schools and educational institutions, Condos in these areas are highly sought after by families, further enhancing their investment potential. As noted by Condo, the location plays a vital role in determining the success of a real estate investment, and investors should carefully consider this factor when deciding where to invest in Singapore.

On the other hand, Sims Edge, a freehold condo, has seen a new record of $1,907 psf from the sale of a 409 sq ft, one-bedroom unit on the 13th floor for about $780,000 on Nov 22. This is the first time a unit at the condo has transacted above the $1,900 psf threshold. Sims Edge is a freehold development on Geylang East Avenue 2 in District 14, Geylang. Completed in 2014, the boutique condo has 78 units of one- to two-bedders ranging from 409 sq ft to 1,195 sq ft.

During this period, no new psf-price lows were recorded.…

19 May 2021

The recent sale of a four-bedroom unit measuring 2,885 sq ft at Ardmore Park stands out as the most profitable condo resale transaction of the week from November 19 to 26. The unit, located on the 14th floor, was sold for $11.25 million ($3,900 psf) on November 22. The seller had previously bought the property in September 2016 for $8.2 million ($2,843 psf), making a significant profit of $3.05 million, which translates to a capital gain of 37%. This also means an annualized profit of 4.6% over a holding period of eight years.

This sale follows another profitable transaction that took place on October 1, where a four-bedroom unit measuring 2,885 sq ft on the 23rd floor was sold for $12.7 million ($4,402 psf). The seller had purchased the unit in September 2010 for $9.7 million ($3,363 psf), resulting in a profit of $3 million and a capital gain of 30.9%.

Ardmore Park is a luxurious freehold condo with 330 units located in the prime Ardmore Park area in District 10. It was completed in 2001 and comprises three 30-storey towers. The typical units in the development are four-bedroom apartments measuring 2,885 sq ft, but there are also six duplex penthouses measuring 8,740 sq ft.

Apart from these two recent transactions, there have been four other profitable resale deals at Ardmore Park this year. These units, all four-bedders similar to the two that were sold in November and October, were priced between $4,108 and $4,472 psf, resulting in profits ranging from $2.65 million to $7.07 million.

The second most profitable condo resale deal during the same week was the sale of a four-bedroom apartment at Goldenhill Park Condominium. This unit, measuring 1,539 sq ft and located on the 16th floor, was sold for $3.43 million ($2,228 psf) on November 21. The seller had purchased the unit from the developer in May 2001 for $1.14 million ($741 psf), earning a profit of $2.29 million, or 201%. They had owned the unit for 23 and a half years.

This sale marks the second-highest profit recorded at Goldenhill Park Condominium. The record currently belongs to a four-bedroom penthouse measuring 2,928 sq ft, which was sold for $4.3 million ($1,469 psf) in February 2022. The seller had bought the unit from the developer in April 2001 for around $2 million ($683 psf), resulting in a profit of $2.3 million.

Goldenhill Park Condominium is a freehold development located on Mei Hwan Drive in District 20. Completed in 2004, it comprises 390 units, ranging from two- to four-bedroom apartments measuring between 926 sq ft and 2,928 sq ft. The condo is close to the Lorong Chuan MRT Station on the Circle Line.

There have been five other resale transactions at Goldenhill Park Condominium this year, all of which have resulted in profits ranging from $760,000 to $1.91 million. The units were sold at prices between $2,082 psf and $2,246 psf.

On the other hand, the most unprofitable condo resale deal during the week was at The Oceanfront @ Sentosa Cove, where a four-bedroom unit measuring 2,831 sq ft on the 10th floor was sold for $4.7 million ($1,660 psf) on November 20. The seller had bought the unit in May 2007 for $5.8 million ($2,050 psf), incurring a loss of $1.1 million, or 19%, after owning it for 17 and a half years.

The Oceanfront @ Sentosa Cove is a 99-year leasehold condo situated in the exclusive Sentosa Cove residential enclave. Completed in 2010, it comprises 264 units spread across five towers, ranging from 12 to 15 storeys high. The residences are made up of two-, three-, and four-bedroom units measuring between 1,216 sq ft and 4,284 sq ft, as well as penthouses measuring between 2,745 sq ft and 8,095 sq ft.

Investing in a Singapore condo has emerged as a sought-after option for investors, whether they are locals or foreigners. The country’s stable political climate, strong economy, and top-notch living standards make it an ideal location. The real estate market in Singapore is brimming with potential, and condos hold a special appeal due to their convenience, amenities, and potential for lucrative returns. For those considering a Singapore condo investment, this article will delve into the advantages, factors to keep in mind, and the necessary steps to take. To learn more about investing in a condo in Singapore, visit Singapore Condo.

Of the six resale transactions at The Oceanfront @ Sentosa Cove this year, there were four unprofitable deals, with losses ranging from $30,000 to $519,000. The other two deals were profitable, with the sellers earning gains of approximately $268,000 and $1.7 million, respectively.…

Habyt, a leading co-living operator, has recently unveiled its newest accommodation space at 5 Kadayanallur Street in Tanjong Pagar. Known as Kada at Maxwell, this 18-room space is the flagship property for the company’s new concept, Habyt Flex, which aims to expand their offerings beyond long-term co-living options.

In August, Habyt Asia Pacific CEO Jonathan Wong had expressed the company’s plans to introduce more short-term living options in their portfolio. As a result, the first properties under the Habyt Flex concept were launched in August, namely the 39-room Habyt Novena and the 27-room Habyt Kallang. Other properties under this concept include Habyt Cantonment and Owen House by Habyt.

Kada at Maxwell offers a range of room types, including en suite studios and two- to three-bedroom units, all equipped with a full kitchenette. Guests have the option to book on a nightly or weekly basis, with a 12-month option also available.

Habyt Asia Pacific CEO Jonathan Wong describes Kada at Maxwell as a testament to the company’s commitment to redefine flexible living in Singapore. This property marks a significant shift towards the next phase of Habyt’s evolution in the Asia Pacific region. Room rates at Kada at Maxwell start at $180 per night.

Located within a preserved 1920s colonial building, Kada at Maxwell spans three storeys and was designed by the renowned architectural firm Swan & MacLaren. This building was originally built to house the St Andrew’s Mission Hospital for Women and Children, and it is one of the earliest modernist buildings in Singapore.

In September 2023, the Singapore Land Authority (SLA) launched a public tender to lease the property. The tender was evaluated based on the bid price and the quality of the proposed concept, with SLA encouraging bidders to consider creative lifestyle concepts.

The popularity of condos in Singapore remains high, driven by the limited availability of land. Being a small island nation with a quickly growing population, Singapore faces numerous challenges when it comes to land development. To counter this issue, the country has implemented strict land use regulations, resulting in a highly competitive real estate market where property prices continue to climb. As a result, investing in real estate, particularly in condos, has become an attractive opportunity, offering the potential for significant capital appreciation.

After careful consideration, the site was awarded to Bethesda Medical, which submitted a monthly rental bid of $103,000. This was the third-highest bid price, after Wan Dormitory ($160,000) and The Working Capitol ($108,240). According to SLA, Bethesda’s strong focus on community building and connecting people with businesses gave their concept the winning edge. The first floor of the building will feature 10 F&B options, while the second floor will house a gym by Limitless, a wellness centre in partnership with Shiruki Studio, and a co-working space. Habyt’s Kada at Maxwell occupies the entire third floor.

Residents of Kada at Maxwell will have unlimited and complimentary access to the property’s health and wellness amenities, which include a performance gym, cold plunge, infrared saunas, hot tubs, and foot baths. “By combining modern conveniences with the timeless charm of a heritage building, we are offering our guests a unique lifestyle experience that goes beyond traditional accommodation,” adds Wong.…

URA has recently announced the launch of tenders for two residential Government Land Sale (GLS) sites located at Holland Link and Chuan Grove, which are part of the Confirmed List for the 2H2024 GLS Programme. Both sites will feature a 99-year leasehold and will potentially be ready by the second half of 2024.

The Holland Link site, situated along Holland Link in District 10, spans 185,141 sq ft and is expected to have a maximum gross floor area (GFA) of 257,225 sq ft, potentially yielding around 230 housing units. This site is located within the upcoming Holland Plan precinct, one of three upcoming precincts by URA alongside Bayshore and Kampong Bugis. According to Marcus Chu, CEO of ERA Singapore, this precinct has a forecasted 2,500 new homes and is expected to be an attractive location for developers looking to capitalize on first-mover advantages.

The site has several notable features, including its proximity to esteemed schools such as Methodist Girls’ School (Primary and Secondary), Henry Park Primary School, Pei Hwa Presbyterian Primary School, and National Junior College, all within a 2km radius. This is likely to be a draw for families with young children who are seeking priority admission to these schools. Additionally, the site is located near the prestigious Brizay Park Good Class Bungalow area, which further adds to the appeal of low-density private residences as an option for future development in the Holland Plan precinct, notes Mark Yip, CEO of Huttons Asia.

However, both Chu and Yip predict a limited response to the Holland Link site, with potentially only one or two bids and a top bid of $1,200 to $1,300 psf per plot ratio (psf ppr).

Moving on to the Chuan Grove GLS site, it is situated in District 19 along Chuan Grove off Lorong Chuan. The site measures 170,409 sq ft and has a maximum GFA of 511,232 sq ft, with potential for approximately 555 new housing units. It is within 400m of the Lorong Chuan MRT station on the Circle Line, which also provides easy access to Bishan and Serangoon MRT stations. Chu expects this site to attract HDB upgraders living in the vicinity, especially with an estimated 3,815 Build-to-Order (BTO) units in Toa Payoh fulfilling their Mandatory Occupation Period (MOP) within the next four years.

Chu also notes that more residents of older HDB estates may seek to upgrade their homes, given the increasing number of million-dollar flats in nearby areas such as Serangoon, Bishan, and Toa Payoh. The median transaction prices for five-room flats in Bishan and Toa Payoh over the past 10 months were $792,000 and $828,000 respectively. Moreover, Chu believes that the recent success of Chuan Park, with 76% of its 916 units sold at an average price of $2,579 psf during its launch weekend, may encourage developers to bid for the Chuan Grove site. He predicts bids ranging from $571 million to $600 million, with a land rate of $1,200 psf ppr. Yip, on the other hand, expects a total of three to five bids with a top bid between $1,150 to $1,250 psf ppr.

The tender for the Chuan Grove site will close at noon on July 8, 2025, while the Holland Link site’s tender will close on July 29, 2025.

It is crucial to consider the potential rental yield when contemplating an investment in a condo. The rental yield is essentially the annual rental income expressed as a percentage of the property’s purchase price. In Singapore, the rental yields for condos can vary considerably depending on various factors, such as location, property condition, and demand in the market. Typically, areas near business districts or educational institutions have a high rental demand, thus offering better rental yields. To gain more knowledge and understanding about the rental potential of a specific condo, conducting thorough market research and seeking guidance from real estate agents can be immensely beneficial. It is also worth noting that adding Singapore Projects to the equation can provide further insight into the condo’s rental potential.…

When considering investing in Singapore condos, it is important to take into account the government’s property cooling measures. In recent years, the Singaporean government has implemented various measures to control speculative buying and maintain a steady real estate market. One of these measures, known as the Additional Buyer’s Stamp Duty (ABSD), imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may have an impact on the short-term profitability of condo investments, they also contribute to the long-term stability of the market, creating a safer investment environment. It is essential to keep these measures in mind when looking to invest in a Singapore Condo as they play a crucial role in maintaining a healthy and sustainable real estate market.

On December 3, URA announced that two residential Government Land Sale (GLS) sites were released under the Reserved List of the 2H2024 GLS Programme. The two sites, known as Holland Plain and River Valley Green (Parcel C), are now available for application. If a developer expresses interest at an acceptable minimum price, the government will put them up for sale. Furthermore, a Reserved List site may be considered for tender initiation if multiple developers submit a minimum price similar to the government’s reserve price.In terms of specifications, Holland Plain has a size of approximately 169,175 sq ft and a maximum gross floor area (GFA) of around 304,522 sq ft. It has the potential to produce 280 residential units and is a 99-year leasehold site that sits alongside the recently launched Holland Link GLS site. The latter has an estimated capacity of 230 units, and submission for it closes in July 2025.

River Valley Green (Parcel C), on the other hand, is located next to the Great World MRT Station and is also a 99-year leasehold site with a size of about 123,964 sq ft. It has a maximum GFA of 433,882 sq ft and can potentially yield 470 new residential units. However, according to Mark Yip, CEO of Huttons Asia, the site is unlikely to be triggered for sale due to the ongoing tender for the neighbouring River Valley Green (Parcel B) plot. This plot can accommodate 580 units and includes 220 long-stay serviced apartments.

The River Valley Green (Parcel C) site is also in close proximity to three other recently awarded GLS sites. In June, Wing Tai Holdings’ subsidiary, Winchamp Investment, clinched the River Valley Green (Parcel A) for a whopping $464 million, or $1,325 psf per plot ratio (psf ppr). It will be transformed into a residential development with over 400 units. Furthermore, in April, City Developments and Mitsui Fudosan were awarded Zion Road (Parcel A) for $1.107 billion, or $1,202 psf ppr, with plans to explore a mixed-use project featuring 740 residential units, a retail podium, and a block with 290 rental apartment units. Lastly, Allgreen Properties was awarded Zion Road (Parcel B) in August for a sum of $730.09 million, or $1,304 psf ppr, with an estimated 610 residential units.

Considering the upcoming supply from the three aforementioned sites, Yip believes there is little motivation for developers to trigger the sale of River Valley Green (Parcel C).…