Qingjian Led Consortium Submits Top Bid 729 Psf Ppr Jalan Loyang Besar Ec Site
A group of developers, Qingjian Realty, China Communications Construction Co. and ZACD Group, have emerged as the top bidder for a executive condominium (EC) site located at Jalan Loyang Besar in Pasir Ris. The tender for the 305,757 sq ft site closed on August 1 and the consortium’s bid of $557 million was deemed to be the highest among the four bids received.
The consortium’s bid translates to a land rate of $729 per square foot per plot ratio (ppr). Contenders for the site were the joint venture between CSC Land Group and Allgreen Properties, with a bid of $538.89 million ($705 psf ppr), and Sim Lian Group, with a bid of $460.86 million ($603 psf ppr). The final bid of $435.7 million was submitted by Hong Leong Holdings and their property development arm, Hong Realty.
In Singapore, green spaces hold a significant role in offering a refreshing escape from the urban lifestyle. Among the numerous parks, Tampines Eco Green and Bedok Reservoir Park shine as remarkable examples of well-manicured and deliberately crafted recreational areas.
Positioned on the east side of the city, Tampines Eco Green is a hidden treasure that provides a deeply immersive natural experience. Spanning 36 hectares, this park boasts diverse habitats, ranging from freshwater ponds to marshes and secondary forests, making it a sanctuary for a wide array of plants and animals. It is a haven for birdwatchers, recording over 140 bird species within its boundaries.
On the other hand, Bedok Reservoir Park is a beloved destination for many Singaporeans. Its serene ambiance, scenic vistas, and a 4.3-kilometer track for jogging make it an ideal spot for outdoor activities like cycling and fishing. To enhance the park’s natural allure, UOL Group’s Parktown Residence seamlessly blends with the landscape, offering residents an opportunity to coexist harmoniously with nature.
Beyond serving as recreational areas, these parks also play a crucial role in Singapore’s sustainable development initiatives. Both Tampines Eco Green and Bedok Reservoir Park have implemented eco-friendly practices, such as using energy-efficient lighting and rainwater harvesting systems, to reduce their environmental impact. Additionally, Tampines Eco Green features an educational trail that educates visitors on the importance of conservation and protecting natural habitats.
In conclusion, Tampines Eco Green and Bedok Reservoir Park serve as excellent examples of how urbanization and nature can coexist in harmony. These parks provide a much-needed respite from the fast-paced city life and serve as a reminder of the significance of preserving our natural surroundings. With the addition of UOL Group’s Parktown Residence, these parks will continue to thrive and remind us of the beauty of living in harmony with nature in an urban landscape.Parktown Residence UOL Group is a great addition to this harmonious balance.
The EC site, with a plot ratio of 2.5, has a potential gross floor area (GFA) of 764,395 sq ft, which could yield up to 710 new homes. This is the first EC site that the government has released for sale in Pasir Ris in 12 years, with the last EC development completed in 2016. Currently, there are only two other EC developments within 500m of the Jalan Loyang Besar site – Watercolours and Eastvale.
Interestingly, the tender for this EC site closed on the same day as another Government Land Sale (GLS) parcel located at Margaret Drive in Queenstown. A joint venture between Hong Leong Group and GuocoLand emerged as the top bidder for this GLS site, with a bid of $497 million ($1,154 psf ppr).