One North Gateway

[sginvestor]

SINGAPORE GLS Sales Update – Nine bids were received for The one-north Gateway site at the close of the tender on September 5, 2019 with top bid being $155.7 million and was submitted by TID Residential, a unit of TID Pte Ltd (a joint venture between Japanese developer Mitsui Fudosan and Hong Leong Holdings). This bid price of $155.7 million by TID will translate the land cost to $1,001 psf per plot ratio (psf ppr).

The demand for this site was rather good because the land size is small and thereby having its quantum attractive to much bids on the government confirmed list. This land size plot ration will yield up to estimated of 165 units. The risk of not being able to sell out the units in the project within the five-year timeline is also reduced and thus the risk for any downside in demand is very much more manageable. The name of this mixed development Is called One North Gateway. This One North Gateway location will be very much sought after for its many good amenities well within its vicinity.

Another project coming soon …. Forett.