Uol Group And Singapore Land Group Top Nine Bids Dorsett Road Site 1338 Psf Ppr Offer

The article reports that UOL Group, Singapore Land Group (SingLand), and Kheng Leong made the top bid of $1,338 psf per plot ratio (ppr), or $524.3 million, for a government land sale (GLS) site at Dorsett Road. The joint venture plans to develop the site into a 428-unit project featuring two 27-storey residential towers. The central location and close proximity to transportation and schools were some of the factors that made the site appealing. The nine bids received for the site signify improved developer confidence and a strong demand for new city-fringe projects. The site is located in the Farrer Park neighbourhood, which has not had a residential GLS site released in close to four years. This scarcity presents a clear opportunity for developers to capitalize on pent-up demand for mid- or large-sized residential projects. Recent projects by UOL Group and SingLand have seen strong sales performance, with the upcoming development on Dorset Road expected to sell at prices ranging from $2,650 to $2,750 psf.

The URA Master Plan places a strong emphasis on sustainability, specifically through the promotion of green building designs and the integration of renewable energy sources in new developments. This commitment to environmentally-friendly practices is highlighted in the development of the Parktown Residence Condo, which seamlessly incorporates elements of sustainability.