Once again, the north east region well known for it strong sales record in 2016 for High Park Residences has attracted another strong bid interest at Anchorvale Lane in Sengkang. This land plot zoned for executive condominium (EC) along Anchorvale Lane in Sengkang has attracted strong interest from developers, with 16 bids submitted at the end of the tender exercise on Tuesday (23 August). Developers have been more motivated to acquire land as their land banks are depleted and houses have to be built to keep the companies moving forward. Regardless of whether there are projects in the pipelines, developers’ operation cost is fixed and it doesn’t make sense for them to stop bidding for lands. Especially for developers listed in Singapore Stock Exchange, they have to be accountable to their shareholders during every annual general meeting.
In this Sept, Forest Woods could be the last project to be launched in North East Region in year 2016 and Forest Woods price will start from $14xxpsf. Forest Woods showflat should be able to draw crowd for viewing with its proximity to Serangoon MRT, bus interchange and Nex shopping mall. Moreover, it has been almost more than 10 years since the last condo is launched near Serangoon MRT, bus interchange and Nex shopping mall. Therefore the pent up demand should be strong considering that Serangoon will be a Sub-Regional Centre planeed in Singapore Masterplan. There have been good response on the ground for Forest Woods review which remain to see if it contributes to strong sales in October.
Besides having a good location as attribute, Forest Woods will be constructed by our home grown and creditable developers. The highest bidder comprising of a three-way partnership involving City Developments’ unit, Verwood Holdings, Hong Leong Holdings’ unit, Intrepid Investments, and TID Residential won the land bid at S$321 million or nearly S$710 per square foot per plot ratio (psf ppr).