Tan Quee Lan Street site expected to be hotly contested
Ms. Tay Huey Ying, Head of Research and Consultancy, Singapore
郑惠匀, 研究与咨询部主管 (新加坡)
The Tan Quee Lan Street site is assessed to be the most attractive of all the sites on the 1H 2019 GLS confirmed list as it is located next to the Bugis MRT station and right in the heart of Bugis where the government’s plan for its rejuvenation is fast bearing fruit.
It will attract developers keen to ride on the area’s rapid transformation into a vibrant mixed-use locale and an extension to the CBD. We expect most of the participants of the Middle Road site for which tender closed yesterday to bid for the Tan Quee Lan Street site.
The low pipeline supply of available residential units for sale amounting to less than 800 units (in the immediate locality) could embolden interested bidders to be bullish in their bids in spite of the cooling measures in place.
Pipeline Supply in Bugis Locality
No. |
Project Name |
Est. No. of Units in Development |
Date of 1st Launch |
1 |
South Beach |
190 |
Sep-18 |
2 |
Midtown Suites |
219 |
Upcoming |
3 |
Middle Road site |
375 |
Upcoming |
We observe that the Master Plan zoning for the one-north Gateway site has been changed from full-residential, to residential with commercial at first storey. The launch of the tender for this site has likely been delayed to allow the authority to incorporate this change into the tender conditions and documents.
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