The Tapestry by CDL

The Tapestry by CDL THE TAPESTRY condominium along Tampines Avenue 10 (Parcel C) is a new launch condominium by City Developments Limited (CDL).

The development comprises of 861 exclusive residential units including 1 to 5 bedrooms with more than 50 exciting facilities.

“The stabilisation of the property market has substantially reduced its vulnerability to the Covid-19 shock. If property...
17/07/2020

“The stabilisation of the property market has substantially reduced its vulnerability to the Covid-19 shock. If property prices had been rising rapidly as we entered the Covid-19 crisis, we could have seen a sharp and painful correction,” Mr Menon said.

SINGAPORE — Despite the economic slump as a result of the Covid-19 pandemic, the existing cooling measures for the property market will stay, the head of Singapore’s central bank said.

Tampines Ave 10 housing site gets S$370.1 million top bid from CDL unit Published 25 APRIL, 2017SINGAPORE — A private r...
02/03/2018

Tampines Ave 10 housing site gets S$370.1 million top bid from CDL unit
Published 25 APRIL, 2017

SINGAPORE — A private residential site along Tampines Avenue 10 attracted nine bids from developers, with a City Developments (CDL) unit submitting the top bid of S$370.1 million, Urban Redevelopment Authority data showed after the close of tender on Tuesday (April 25).

The 99-year leasehold site, released from the Confirmed List of the first-half 2017 Government Land Sales programme, sits on 21,717.7 square metres, or about 233,767 sq ft, of land. With a plot ratio of 2.8, the site can yield a maximum permissible gross floor area of 60,810 sq m (or 654,553 sq ft), on which CDL plans to build about 800 homes.

The site, marked as Tampines Ave 10 Parcel C, is located between condominium projects The Alps Residences and The Santorini, which are under construction. It is linked to the city and the rest of the island via major arterial roads and expressways, such as the Tampines Expressway and the Pan Island Expressway. However, it is not within comfortable walking distance to an MRT station.

The top bid from Bellevue Properties, a wholly-owned subsidiary of listed property developer CDL, translates to S$565.42 per sq ft per plot ratio, or 5.7 per cent above the second-highest bid from Kingsford Development.

“The top bid today can be considered quite bullish as it is 17.2 per cent higher than the price of the land parcel on which The Alps Residences site was acquired by MCC Land in May 2015 at S$482.60 psfppr,” said Mr Nicholas Mak, Executive Director and Head of Research & Consultancy Department at SLP International Property Consultants.

“The relatively brisk sales at recent launches - Grandeur Park Residences in Tanah Merah and Seaside Residences at Siglap Road - also indicated healthy demand for new homes. This has resulted in the decline of the unsold residential property inventories of some developers. Hence, it leads to the healthy demand for land by developers,” he added.

A CDL spokesperson said after the preliminary tender result: “In the event that we are awarded the site, CDL will explore a condominium development of about 15 storeys with about 800 units. All units are expected to enjoy a north-south orientation and the development will also include a childcare centre on site.”

SINGAPORE — A private residential site along Tampines Avenue 10 attracted nine bids from developers, with a City Developments (CDL) unit submitting the top bid of S$370.1 million, Urban Redevelopment Authority data showed after the close of tender on Tuesday (April 25). The 99-year le

CDL unit puts in $370.1m top bid for Tampines condo site26, 2017, 5:00 AM SGTA unit of City Developments (CDL) has put i...
02/03/2018

CDL unit puts in $370.1m top bid for Tampines condo site
26, 2017, 5:00 AM SGT

A unit of City Developments (CDL) has put in the top bid for a fairly large condominium site in Tampines.

The latest government land sales site tender attracted nine bidders - fewer than some had expected - though the bid amounts were no less bullish than for recent sites.

The site in Tampines Avenue 10, launched last month under the confirmed list for the first half of this year, drew a top bid of $370.1 million from Bellevue Properties, a unit of CDL.

Located near Bedok Reservoir, the site has a land area of 21,717.7 sq m and maximum gross floor area of 60,810 sq m.

CDL said in a statement yesterday that if it is awarded the site, it will explore a condominium development of about 15 storeys with about 800 units. The development would also include a childcare centre, it added.

Mr Ong Teck Hui, national director of research and consultancy at JLL, said that while nine bidders could be considered a "good turnout", the number was still fewer than he had expected. He attributed this to developers being drawn to more attractive sites such as in Stirling Road and Lorong 1 Realty Park.

He added that the top bid reflected the bidder's outlook of prices remaining stable or increasing when the project is launched, as opposed to the current trend of prices moving downwards.

Mr Nicholas Mak, head of research and consultancy at SLP International Property Consultants, hailed the "return of sanity" to developers, saying the number of bids was more "reasonable".

He noted that the top bid was bullish as it was 17.2 per cent higher than the land price paid by MCC Land for the nearby land parcel on which The Alps Residences is sited.

This translates to a price of about $565.4 per sq ft (psf) per plot ratio. Mr Mak estimated the project could be launched at prices of above $1,150 psf from the middle of next year.

While there are two nearby projects, The Alps Residences and The Santorini, he said these projects are not likely to compete with the future development as they are expected to be substantially sold by the time the new project is launched.

A unit of City Developments (CDL) has put in the top bid for a fairly large condominium site in Tampines.. Read more at straitstimes.com.

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