{"id":25610,"date":"2021-10-29T06:50:47","date_gmt":"2021-10-28T23:50:47","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25610"},"modified":"2021-10-28T08:54:25","modified_gmt":"2021-10-28T01:54:25","slug":"singapores-dairy-farm-walk-site-expects-to-draw-bids-from-developers","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/singapores-dairy-farm-walk-site-expects-to-draw-bids-from-developers\/","title":{"rendered":"Singapore’s Dairy Farm Walk site expects to draw bids from developers"},"content":{"rendered":"

Positive sentiment in the market, including good locational attributes, will create keen interest in the site<\/span>\u00a0<\/span><\/p>\n

\"\"
The Dairy Farm Walk site is surrounded by nature, near the Bukit Timah Expressway, and about a 10-minute walk to Hillview MRT station. DucHuyNguyen\/Shutterstock<\/figcaption><\/figure>\n

According to The Straits Times<\/a>, a residential site in Dairy Farm Walk has been offered by The Urban Redevelopment Authority\u00a0(URA), which is expected to\u00a0attract an adequate\u00a0amount\u00a0of bids from developers.\u00a0<\/span>\u00a0<\/span><\/p>\n

Located in Upper Bukit Timah, the parcel spans 15,663 square\u00a0metres\u00a0and has a maximum gross floor area of 32,893 square\u00a0metres, accommodating around 385 units.\u00a0<\/span>\u00a0<\/span><\/p>\n

The 99-year leasehold site comes under the confirmed list of the second half of the government land sales (GLS)\u00a0programme\u00a0in 2021, for land parcels launched according to schedule regardless of demand.<\/span>\u00a0<\/span><\/p>\n

Private homes from GLS sites modestly increased in H1 2021, following a sharp contraction in H2 2020 due to the pandemic.\u00a0<\/span>\u00a0<\/span><\/p>\n

With unsold inventory declining, developers this year have been eagerly bidding for plum sites.\u00a0<\/span>\u00a0<\/span><\/p>\n

The Dairy Farm Walk site is surrounded by nature, near the Bukit Timah Expressway, and about a 10-minute walk to Hillview MRT station. <\/span>\u00a0<\/span><\/p>\n

“The positive sentiment in the market, keenness in replenishing land bank by developers, limited new supply in the area and other good locational attributes will contribute to a keen interest in the site,” said Lee Sze Teck, senior director of research at property agency Huttons Asia.\u00a0<\/span>\u00a0<\/span><\/p>\n

Teck added that\u00a0as the\u00a0site\u00a0allows for satisfactory building\u00a0height,\u00a0north-facing units on higher floors\u00a0will be able to enjoy unblocked views of the Chestnut Avenue good class bungalow area. Meanwhile, the south-facing higher floor units will face beautiful greenery.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Singapore\u2019s residential market shows positivity with 18% increase in resale<\/strong><\/a><\/p>\n

He expects the tender to attract up to eight bidders and a top bid of between SGD900 (USD666) and SGD1,000 (USD740) per square feet per plot ratio.<\/span>\u00a0<\/span><\/p>\n

Tender for the site will close at noon on March 8<\/span>th<\/span>, 2022.\u00a0<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Positive sentiment in the market, including good locational attributes, will create keen interest in the site\u00a0<\/p>\n","protected":false},"author":12,"featured_media":25611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2417,2418,512,110],"class_list":["post-25610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-developer-bids","tag-government-land-sales","tag-residential","tag-singapore","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"\nSingapore's Dairy Farm Walk site expects to draw bids from developers | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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