Serious SGD1BIL Bid for Marina Gardens Lane site, Huat Ah!

[Pinkieslut]

S$1 Billion bids for prime land show Singapore's property market is still hot​

Bloomberg
Fri, 30 June 2023 at 4:13 pm SGT·1-min read

Gardens by the Bay, from left, Marina Bay Sands, and the central business district in Singapore, on Sunday, Oct. 3, 2021. Photographer: Ore Huiying/Bloomberg
By Shubhangi Goel
(Bloomberg) — Two state land plots in Singapore offered for private housing and commercial use each fetched billion-dollar bids from developers, signaling continued robust demand in the property market amid cooling measures and recession fears.
Chinese developer Kingsford Hurray Development Pte. and two partners put in the leading bid of S$1.03 billion ($763 million) for the Marina Gardens Lane site, according to a statement from the Urban Redevelopment Authority on Tuesday. The land parcel is located next to some of the city-state’s prime attractions, including Gardens by the Bay and Marina Barrage.

Further out in the city’s suburbs of Tampines, a mixed-use site fetched the highest bid of S$1.2 billion from Topaz Residential Pte. and Topaz Commercial Pte., the Housing & Development Board said in a statement.
Both sites have a 99-year lease. While such hefty bids are not unprecedented in Singapore, it is a further sign of interest from developers in the still-buoyant property market, which has seen significant increases in rent and home prices in recent years.

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[laksaboy]

Tiong developer Kingsford. I believe it built the new Normanton Park condo, which is almost ready now.


https://www.yan.sg/maifangdienrichrier/

新加坡鑫丰地产（官方微信：新加坡鑫丰）成立于2000年，母公司香港鑫丰投资是亚洲领先的房地产开发商，在中国、澳大利亚等地有多个房产项目，近年来在新加坡发展迅速，代表项目有鑫丰·山景碧苑（Kingsford Hillview Peak）和鑫丰·银河湾（Kingsford Waterbay）

--
Parent company is based in Hong Kong.

鑫丰地产 打造跨国度品牌​

https://toutiaosg.com/360789

Why Hong Kong-linked Kingsford Development can’t sell flats on a US$600 million Singapore property​

https://www.scmp.com/week-asia/econ...-linked-kingsford-development-cant-sell-flats

(If blocked by paywall, use this archived link: https://archive.is/KWKMQ)

 

[syed putra]

They didn't say the size of the lot.
I wanna compare that to Hakka restaurant just sold to pavilllion mall kl about 3+acres fir just myr500+mil.

Pavilion Group Tycoon Purchased Iconic Hakka Restaurant Land For RM556 Mil?​

BY HYPE DESK

SEPTEMBER 29, 2022



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If you are a true foodie, you’ve probably heard of the iconic Hakka restaurant. They offer a variety of dishes from seafood to meat dishes and it is a definite delight to the taste buds. Situated right across the fashionable Pavilion Kuala Lumpur, the family-run Hakka Restaurant has served authentic Hakka cuisine since 1956. That was approximately 66 years ago!
That is why we are sad to hear that Pavilion Group’s Tan Sri Desmond Lim has bought off the 3.25 acres of land, which is exactly where the Hakka Restaurant currently stands. Many speculations are being made about Hakka Restaurant’s situation but no actual confirmed news is available.
SOURCE: WAUPOST.COM
The said 3.25 acres of land is sold at a whopping RM4,000 per square foot. Therefore, the real estate mogul Tan Sri Desmond Lim must have spent a total of RM556 million on the land. Looking into the mind of a real estate mogul, it is probably worth buying because of the strategic location within Kuala Lumpur’s golden triangle. The location itself would double or even triple the initial pay-off.

 

[Pinkieslut]

Tiong developer Kingsford. I believe it built the new Normanton Park condo, which is almost ready now.


https://www.yan.sg/maifangdienrichrier/

新加坡鑫丰地产（官方微信：新加坡鑫丰）成立于2000年，母公司香港鑫丰投资是亚洲领先的房地产开发商，在中国、澳大利亚等地有多个房产项目，近年来在新加坡发展迅速，代表项目有鑫丰·山景碧苑（Kingsford Hillview Peak）和鑫丰·银河湾（Kingsford Waterbay）

--
Parent company is based in Hong Kong.

鑫丰地产 打造跨国度品牌​

https://toutiaosg.com/360789

Why Hong Kong-linked Kingsford Development can’t sell flats on a US$600 million Singapore property​

https://www.scmp.com/week-asia/econ...-linked-kingsford-development-cant-sell-flats

(If blocked by paywall, use this archived link: https://archive.is/KWKMQ)

That new condo will be housing the high SES new rich of China, and also their mistresses .

 

[laksaboy]

That new condo will be housing the high SES new rich of China, and also their mistresses .

I think that location is too low SES for them, too many working class trash commute to Science Park next door... maybe they should try Ridout Road instead.

 

[mahjongking]

all these big money are freshly printed from overseas central banks invading our shores to 'buy' up properties......dont be conned, these are not hard earned money

 

[laksaboy]

all these big money are freshly printed from overseas central banks invading our shores to 'buy' up properties......dont be conned, these are not hard earned money

And thanks to their 'investments', inflation is skyrocketing. You see, the imported money cannot exist in a vacuum without affecting other aspects of the economy.

 

[syed putra]

The 99-year leasehold site at Marina Gardens Lane, measuring about 131,805 sq ft, is zoned for residential with commercial at the first storey use. It can yield an estimated 790 residential units and about 8,073 sq ft of commercial space, with a maximum gross floor area (GFA) of about 738,114 sq ft.

its like buying a hdb eith 99 year lease if developed.

 

[red amoeba]

Another money laundering opportunity ?

 

[mahjongking]

And thanks to their 'investments', inflation is skyrocketing. You see, the imported money cannot exist in a vacuum without affecting other aspects of the economy.

thats why simple folks never ever suspect they are been scammed.....all govts are implicit in this fucking big big scam, non is innocent....fuck pap first, and all others

 

[tobelightlight]

Chinese developer Kingsford Hurray Development Pte. and two partners put in the leading bid of S$1.03 billion ($763 million) for the Marina Gardens Lane site, according to a statement from the Urban Redevelopment Authority on Tuesday.

i dunno if the flaccids here understand the future implication of this.

This is a state-own land and has the Singapore nationality recognition to it. Money come first, others like roots and culture are bullshit. This land should not even be sold or allow access to foreign developing companies at all. It says so much how incompetent the PAP is. They got no way to get more money due to their incompetence, and has to sell the country soul for it.

 

[syed putra]

i dunno if the flaccids here understand the future implication of this.

This is a state-own land and has the Singapore nationality recognition to it. Money come first, others like roots and culture are bullshit. This land should not even be sold or allow access to foreign developing companies at all. It says so much how incompetent the PAP is. They got no way to get more money due to their incompetence, and has to sell the country soul for it.

I assume all that wealth will eventually trickle down to the grassroots no?

 

[k1976]

Altogether now!!! HUAT AH!!!

Heng Ong Huat lah

 

[k1976]

Any miss the boat bro?
This is your chance to huat big big hah