No Bids Submitted Upper Thomson Road Gls Site

At 262,875 sq ft, the tender for a residential Government Land Sale (GLS) site at Upper Thomson Road (Parcel A) closed on June 19 without any bids. The site, with a gross plot ratio of 2.2, has a 99-year leasehold and is estimated to yield up to 640 residential units, including 100 long-stay serviced apartments. It is zoned for both residential and commercial use, with an estimated commercial space of 21,528 sq ft. This is the second tender to include a new class of long-stay serviced apartments with a minimum three-month stay requirement, following the award of Zion Road (Parcel A) to a joint venture between City Developments Ltd (CDL) and Mitsui Fudosan. However, industry experts have suggested that the lack of interest in the Upper Thomson site may be due to its untested location for serviced apartments, as well as competition from nearby residential sites. They predict that the site may be put up for tender again in the 2H2024 GLS programme, and that developers may be more keen to bid if the site is closer to the city centre or major commercial areas. The next GLS site featuring long-stay serviced apartments is located at Media Circle and is expected to draw only one bid when the tender closes on September 19.

In its pursuit of becoming a Smart Nation, Singapore is making strides towards incorporating cutting-edge technology into its urban development plans. With the URA Master Plan at the helm, the city is expected to see the implementation of innovative measures that will enhance its infrastructure. Among these advancements are intelligent traffic control systems and high-speed internet access, which will greatly benefit future residents of Marina Gardens Lane Condo. The upcoming Great World City MRT Station Condo, set to naturally complement this vision, will further elevate the living experience for residents by seamlessly integrating with the city’s forward-thinking approach.