Category: Singapore Property Market News

Media Circle Parcel B is a GLS site launched under Singapore’s Government Land Sales (GLS) program 2H 2024 by the Urban Redevelopment Authority (URA). As part of the GLS initiative, this parcel of land is earmarked for development that aligns with Singapore’s broader objectives of fostering growth in strategic industries, particularly in the media and technology sectors.

The Urban Redevelopment Authority (URA) has recently announced the release of a Government Land Sales (GLS) site at Faber Walk for 2024. This site, nestled in a mature and sought-after residential estate, presents a unique opportunity for developers and homebuyers alike.

The Ministry of National Development (MND) and Housing Development Board (HDB) have recently introduced measures to address the HDB resale market and offer additional assistance to first-time homebuyers in the lower-to-middle-income bracket.

A consortium consisting of GuocoLand, Hong Leong Holdings’ Intrepid Investments, and Hong Leong Group’s Hong Realty has emerged as the top bidder for a government land sale (GLS) site on Margaret Drive.

The highest bid of $841 psf ppr is significantly higher, 22.3% above the second highest bid of $687 psf ppr, which was submitted by Capital Development, a subsidiary of Eng Seng Lee Construction.