About Holland Road Site Land Tender

Holland Road Land Tender

A highly contested GLS at holland road draws total of 15 bids at of its closing date when some developers even submit more than one bid to avoid missing this land tender. This is a mixed development with both residential and commercial components.

A consortium by Far East, Sekisui House and an affiliated company has put in a total of 3 bids, together with other 3 consortiums that has placed 2 bid each respectively. Qingjian Realty and Percennial, Guocoland with Hong Leong, Lendlease and Pontiac Land.

The rest of the bidders submit 1 bid each in a partnership like RB Capital team with CDL, Kerry Properties with Allgreen Properties, Roxy, JBE Properties with Chip Eng Seng etc.

The team partnership may indicate that this land tender likely exceed $1b mark that require a huge capital outlay.

Other than the tender price, bidders are required to submit a proposal on their overall concept and track record, follow by tender price thereafter. Only those who pass the first stage of concept evaluation will move on to second stage that award the site to the highest tender.

This site is finally awarded to Far East Organization at $1.2b and its design concept to build residential apartment, retail space, service apartment, dual office/ residential units. The price at $1.213 billion convert to $1,888 psf ppr.

 

About Holland Road Site

Old Holland village

URA has implemented a 60-40 rule for this Holland Road Site where 60% are use for residential and the rest 40% for commercial use. There can be up to 570 residential units. There’s a maximum gross floor area of 59,715sqm which 13,500 sqm are designated for retail usage. The entire site is divided into 2 zones – commercial and residential zone.

Holland Road New Condo

The residential zone can build up to 570 units with communal facilities. The combination of the commercial / residential zone is to create a vibrant live, work and play with everything under one roof.

Holland Road Retail Space

The commercial retail component will overlook the public plaza that is cater for lifestyle events. There will be restaurants, cafes and pubs to retain the culture of Holland Village which is a popular ground for expats and Singaporean to hang out.

Holland Road New Condo Pocket Park

The Pocket park which faces current Holland Village set to provide residents and visitors relaxing ground where they can chill over the weekend. This is in line to retain current culture and charm of holland village while enriching social fabric.

Holland Village is well loved for its charm, character, heritage which set itself apart from other neighbourhood. It is well love by Singaporeans as well as expats to chill for social meet up and gathering.

 

Project Details

Developer: Far East
Description: Mixed Development with Commercial and Residential Components
Address: Holland Road
District: 10 
Site Area 59,715sqm
Tenure: 99-years
Expected TOP: 2025
Plot Ratio TBA

 

Holland Road New Condo Location

Holland New Condo Location

Holland Road Land site is situated along Holland Road, close to Holland Village and Holland Village MRT Station that provide residents easy access to numerous amenities nearby like Holland Village, Holland Road Shopping Centre, Holland Drive Market and Food Centre, and even Ikea, One North and Orchard Shopping Belt is just couple of minutes away.

Nearby schools include Nanyang Kindergarten, Raffles Girls Primary School, St James Church Kindergarten, Nanyang Primary School, New Town Primary School, Fairfield Methodist and Anglo Chinese School school are some of the reputable schools around the region.

 

Potential of the Site

This site is divided into 2 zones, Zone 1 for Residential that include condo or strata house and Zone 2 for Commercial or Service apartment. Developer will have up to 7 years to complete the development.

The 15 bidders reflect the potential of the site as mixed development as rare and often highly sought after. Residents are well connected with facilities and likely cafes where they can life, eat and shop under one roof, which from investors perspective, often has a good rental yield. Thus, development like this often is high demand.

In fact, Far East will only be selling about 400+ units, while retain about 100+ units as service apartment as they are confident of the rental in this area. There wil be this for long term to take advantage of the rental demand in this vicinity.

 

Holland Road New Condo Registration of Interest

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Review of Holland Road New Condo

Holland Road New Condo | GLS 2018
Holland Road new Condo

A highly contested GLS at holland road draws total of 15 bids at of its closing date when some developers even submit more than one bid to avoid missing this land tender. This is a mixed development with both residential and commercial components.

Product SKU: Holland Road New Condo | GLS 2018

Product Brand: Property Review

Product Currency: SGD

Product Price: 1200000000

Product In-Stock: InStock

Editor's Rating:
5