From those 3 private home sites that were up for rent, CDL got two sites with 99-year leasehold and one of these is Whistler Grand located at West Coast Vale. The land group had set the top bids which include a S$472.4M bid for the parcel of property in West Coast Vale and S$212.2M for the property in Exotic Road, close to the Dhoby Ghaut MRT Station. The 3rd site which is found along the Chong Kuo Road found the partnership between OKP Land and Lian Soon Holdings placing the highest bid of S$43.95 M.
In case CDL will be awarded these 2 sites, they’re exploring the option of constructing three residential towers with 8-10 stories with 200 apartments in addition to a car park in the cellar for the property located along Handy Road. CDL will change the conservation construction and convert it into a clubhouse. Based on Sherman Kwek, the chief executive of CDL, the land team was selective in areas where they place bids and the 2 sites where they put the top bid have great potential. Together with the residential market in Singapore beginning to recover gradually, the group’s main focus is to search for the ideal opportunities that will increase CDL’s property bank locally.
Whenever you’re going to get a home occasionally you may get into bidding wars with other people that want the exact same house as you. If people have fallen in love with the house they may push up their offer price when they find out others desire the exact same house. Among the things which you could do is to find out the costs of the other homes in the area. That way you have a idea about what things are going for and if it’s under priced you can find out in the event that you would like to bid or appear elsewhere.
For West Coast Vale, CDL had proposed towers with 36 stories. But, Singapore’s Urban Redevelopment Authority has given that the maximum residential units for the property is 730.
Make sure that you receive all the closing documents ahead of time. Moving into closing blind can lead to a lengthy meeting in addition to oversights. Read the records thoroughly ahead of time and ask any questions before closing. This will make for a much smoother transaction on the day you go into sign.
Tricia Song who’s the head of Colliers International in Singapore noted that CDL’s bid for the plot in West Coast Vale Whistler Grand was 35 percent greater compared to what was compensated for the website of the Twin View Project. Regardless of the abundant source, Song said that what could have improved the confidence of developers in this place is also the nearby Parc Riviera that has 752 units and 97 percent of it had been sold by December 2017. Parc Riviera had an average selling price of approximately S$1,200 per square foot within only 13 weeks after it was formally established.
Property Consultants have stated that even with multiple tenders simultaneously closing in for Whistler Grand, this has little effect in regards to bidding prices. According to JLL’s national manager, the best bids on the 3 bids exceeded the expectations but they won’t interfere with the availability of the collective sales-sites in the marketplace.