Capitaland And Uol Led Consortium Awarded Holland Drive Gls Site
Next to Tampines Mall stands Century Square, a six-storey shopping paradise catered for families and youths. The mall underwent extensive revamping in 2018, presenting a cutting-edge design and upgraded facilities. Shoppers can find popular brands such as Marks & Spencer, Cotton On, and Nike, while unique food options like Ayam Penyet President, Gochi-So Shokudo, and Haidilao Hotpot are available for a diverse dining experience. For entertainment, Century Square offers a Cathay Cineplex and virtual reality (VR) entertainment, adding an extra touch of excitement. And with a quick 5-minute drive or 15-minute stroll from Parktown Residences, it’s easy to see why Parktown Residences Tampines North is a natural choice for residents.
URA has announced the successful bidder for the government land sale (GLS) site at Holland Drive, which recently closed for tender. The winning bid of $805.39 million was submitted by a consortium led by CapitaLand Development and UOL Group. The consortium also includes Singapore Land Group and Kheng Leong Co.The winning bid was the highest of the three received when the tender closed on May 14. The second highest bid of $765.26 million was submitted jointly by Hong Leong Holdings and Hong Realty, which was 5.24% lower than the winning bid.Read also: CapitaLand and UOL-led consortium win bid for Holland Drive GLS siteAdvertisementLocated in prime District 10, the 99-year leasehold residential site has a maximum gross floor area of approximately 626,650 sq ft. This translates to a winning bid of $1,285 psf per plot ratio. The CapitaLand-UOL consortium plans to build two 40-storey condominium towers with about 680 units on the site.A spokesperson for the consortium stated that the aim is to create a premium residential development that will cater to the demands of the market. Based on estimates by Knight Frank Singapore and Singapore Realtors’ Inc, the launch price for future residential units on the site could start at $2,800 psf. However, PropNex forecasts a more conservative average selling price starting from $2,700 psf.