Jiak Kim Street and Fourth Avenue Awarded for tender site

Jiak Kim Street and Fourth Avenue

According to Urban Redevelopment Authority’s stated site, both Jiak Kim and Fourth Avenue at FCL Residences and Allgreen Properties Limited have been awarded tenders for sites. The company also presented the highest bid for two sites.

On October 19, 2017, and November 2, 2017, launches sites on Jiak Kim Street and Fourth Avenue. The tenders will be closed on both sites on December 5, 2017. The sale of land parcels is being offered in the 99-year lease terms.

Each dimension is derived from Frasers Centerpoint Limited. It has the highest bid for Jiak Kim Street which extends 13,482 square meters and S $ 1,732.55 per square foot and plot or psf ratio.
This is the highest unit price of land per sq ft of land for government land being sold, excluding commercial and white sites.

Allgreen Properties originated from the highest bid amounting to 18,532 square meter Land Parcel and subjected to a land rate of S $ 1,540 psf ppr of Fourth Avenue. Royalville and Crystal Tower approved by developers freehold sites on Friday, and now the third site has a look along with the same stretch of Bukit Timah.

Jiak Kim Street and Fourth Avenue are sites on the Fund List and originally in the Land Government Program.

Cushman and Wakefield’s director of real estate research firm Christine Li said both sites of Jiak Kim and Fourth Avenue were hotly debated by benchmark costs set at the same location.

Ms. Li added “Perhaps the developer’s pricing is a slight approval of around 6 to 7 percent for the sale of future development prices. It is in line with market expectations that prices of new homes will increase five to ten percent next year.

JLL real estate agency and head of research and consulting Tay Huey Ying said: “Li Ka-Shing of Japura Pte Ltd is the powerful foreign trader and developer of CSC Land of China and Hong Kong for two sites on Jiak Kim Street and Fourth Avenue. The interest will continue to stay with local developers in their commodities in the prime market of the district according to the citation. “