Exploring CDL’s Bid for Zion Road GLS Parcel A: Market Insights

In a significant move, a joint venture led by City Developments (CDL) has submitted a bold bid of $1.1 billion for a prime plot in Zion Road Parcel A, marking the pioneering Government Land Sales (GLS) initiative for long-stay serviced apartments. However, industry analysts have raised concerns over this singular bid for Zion Road Parcel A, citing a land rate of $1,202 per sq ft per plot ratio (psf ppr) that falls below market expectations, indicating CDL’s cautious approach despite the promising opportunity to diversify its rental property portfolio.

Market Dynamics: Analyzing Participation and Bids

Experts note a consensus regarding the subdued participation and bids for Zion Road GLS Parcel A and other sites, attributing it to escalating risk aversion among developers. Economic uncertainties, sluggish new home sales, interest rate fluctuations, and regulatory cooling measures contribute to this trend. The single bids received on April 4 are termed as “conservative,” particularly for the Zion Road plot, despite its inherent attractiveness.

Comparative Insights: Evaluating Land Rates and Market Trends

Drawing comparisons with past GLS transactions nearby, analysts question the viability of the Government awarding the Zion Road GLS Parcel A given its relatively lower land rate. For instance, the land rates achieved for Jiak Kim Street and Irwell Bank Road plots far exceed the bid for the Zion Road site, raising doubts among industry observers.

Perspectives on Future Development and Market Impact

While uncertainty looms over the awarding of this land site, industry experts anticipate potential benefits in rejuvenating the supply of serviced apartments in the area. The prospect of tapping into a new source of recurring income and gaining a competitive edge as an early mover in this segment offers promising opportunities for developers.

Challenges and Considerations: Sizeable Plots and Market Dynamics

Analysts point out the reservations among developers regarding the sizeable plot of the Zion Road GLS Parcel A, coupled with its land price and the impending influx of new private home supply from adjacent GLS sites. These factors contribute to a cautious sentiment prevailing among industry players.

Strategic Vision: CDL’s Ambitious Plans for Zion Road Development

Should CDL and its joint venture partner Mitsui Fudosan (Asia) secure the Zion Road GLS Parcel A, ambitious plans for a mixed-use project are in the pipeline. This envisioned development comprises residential and commercial spaces, showcasing CDL’s commitment to innovative urban solutions and market-leading ventures.

In conclusion, the bidding dynamics for the Zion Road GLS Parcel A provide valuable insights into the evolving landscape of Singapore’s real estate sector and the strategic maneuvers of key players like CDL in navigating market uncertainties and seizing lucrative opportunities.

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One Pearl Bank Factsheet

One Pearl Bank Unit Mix

Register your interest and to secure a unit at One Pearl Bank, simply call (65) 6100 0339 or drop a text to (65) 8666 3339. This project is really beautiful, worthwhile to book a unit there.

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Margaret Ville Factsheet:

Margaret Ville Units Mix:

• TRANSPORTATION: 4.0/5

If you are working in the Pasir Panjang, One North or Current CBD, then you will appreciate how near is Queenstown to all the above-mentioned working place.

Located quite near to Queenstown MRT station, you can easily take a stroll to MRT. From Queenstown MRT, it takes you only 5 stops to Raffles Place. It takes only 2 stops to Buona Vista, the interchange between East-West Line and the Circle Line.

• AMENITIES: 4.0/5

Queenstown is no lack of amenities. It is one of the earliest towns in Singapore history. If you’re looking for nice food, then you should not miss Mei Ling Food Centre.

The coffeeshop will be within a short walk. Located at the opposite blocks, the Dawson Hawker Centre will be ready in 2020, just nice before the residents in Margaret Ville move in.

• RENTABILITY: 4.5/5

Because this is only one bedroom, chances that this could be one of your investment properties. Tenants will love the place because of the distance to the MRT, already existing amenities and eateries nearby.

Take a look at Commonwealth Tower (CWT), which is just right next to Queenstown MRT. This project is TOP in 2017, which is the benchmark for the rents in the Queenstown area.

Source: EdgeProp (May 2019)

The average rent for one bedroom in Commonwealth is transacted at about $2,500. Assuming ceteris paribus, $2,500 per month translates into 3% rental yield or $5.39 psf, which is quite a decent number to look at.

Wait no more, come and take a look at this awesome project name “Margaret Ville”. Give us a call at (65) 6100 0339 or drop us a text at (65) 8666 3339. Happy to see you take action and take action now.

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Call 6100 0339 For Viewing

Stirling Residences Factsheet

• TRANSPORTATION: 4.5/5

If you have been looking for a property next to MRT and yet not so near to the MRT track, perhaps this is the project that is suitable for you.

Located very near to Queenstown MRT station, you can easily take a stroll to MRT. From Queenstown MRT, it takes you only 5 stops to Raffles Place. It takes only 2 stops to Buona Vista, the interchange between East-West Line and the Circle Line.

• AMENITIES: 4.0/5

Queenstown is no lack of amenities. It is one of the earliest towns in Singapore history. If you’re looking for nice food, then you should not miss Mei Ling Food Centre, which is just a few HDB blocks away.

The coffeeshop is within a short walk as well. Located at Block 169, this coffeeshop offers Zichar, Vegetarian Bee Hoon, Banmian, Wanton Mee, Mixed rice and Roti Prata.

Shopping malls we have IKEA, Queensway Shopping Mall and the Anchorage. These are all within comfortable walking distance.

• RENTABILITY: 4.5/5

Because this is only one bedroom, chances that this could be one of your investment properties. Tenants will love the place because of the distance to the MRT, already existing amenities and eateries nearby.

Take a look at Commonwealth Tower (CWT), which is just right next to Queenstown MRT. This project is TOP in 2017, which is the best proxy to Stirling Residences.

Source: EdgeProp (May 2019)

The average rent for one bedroom in Commonwealth is transacted at about $2,500. Assuming ceteris paribus, $2,500 per month translates into 3.46% rental yield or $5.66 psf, which is quite a good number to consider.

Stirling Residences: November 2019

Wait no more, come and take a look at this awesome project name “Stirling Residences”. Give us a call at (65) 6100 0339 or drop us a text at (65) 8666 3339. Happy to see you take action and take action now.

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