One North Eden
work live play learn
Conceptualised in 2001, one-north is a vibrant work-live-play-learn research and business park that serves as a fertile ground for collaboration, innovation and business growth.
JTC was appointed as the lead agency to master plan and develop this 200-hectare development. Today, one-north has grown to become an icon of Singapore’s knowledge economy with a focus on key growth sectors, namely biomedical sciences, infocomm technology and media, supported by capabilities in science and engineering.
Its unique work-live-play-learn environment enables the integration of industry-centric developments with residential communities, lifestyle options and educational institutes to provide a vibrant environment for innovative minds to congregate, collaborate, and create.
project details one north eden
Project Name
One North Eden
Development Address
Slim Barracks Rise, Singapore
Development Type
Mixed use High rise residential development with commercial on 1st storey
Number of Units
165 residences / 6 commercial
Tenure of Land
Leasehold 99yrs
Purchasers Eligibility
All Nationalities
T.O.P Date
est TBA
Site Area
approx 5,778 sm / 62,200 sf
Project Developer
TID Pte Ltd
Architect
TBA
Unit Mix
TBA
(Size quoted are subject to final survey)
One North eden in the news
TID Pte Ltd (formerly known as Trade and Industrial Development Pte Ltd) is a property developer carving out a niche in Singapore’s market. Bifurcating into residential and commercial properties, TID Pte Ltd weaves a unique combination of Singapore – Japanese talents and management styles into eminent assets in property developments.
Incorporating the fundamental strength of vision and mission with an impeccable line of corporate history, TID Pte Ltd is a joint-venture between Hong Leong Group and Mitsui Fudosan. This is the strong partnership that bonded Singapore’s home-grown MNC, Hong Leong Group and one of Japan’s leading real estate companies, Mitsui Fudosan, executing great master plans with notable developments as the end-results.
Set to transform the development industry as a whole, this illustrious partnership stipulates innovative plans and quality living towards higher bars.
By recognising the demand for architectural fineness and providing solid solutions, we retained a strong presence in the field. TID Pte Ltd strives to set impressive goals of quality and creativity while maintaining fortitude of innovation and entrepreneurship.
CORPORATE LINKS
5 September 2019 – Yahoo News
SINGAPORE (EDGEPROP) – The one-north Gateway site received nine bids at the close of the tender on September 5. The top bid of $155.7 million was submitted by TID Residential, a unit of TID Pte Ltd (a joint venture between Japanese developer Mitsui Fudosan and Hong Leong Holdings). The bid price by TID translates to a land cost of $1,001 psf per plot ratio (psf ppr).
The nine bids received for the one-north Gateway site came as no surprise as it’s the smallest site on the Confirmed List, with the potential to yield about 165 units. “It’s a palatable development quantum which appeals to more developers,” says Tricia Song, Colliers International head of research for Singapore. The risk of not being able to sell out the units in the project within the five-year timeline is also reduced, she adds.
Song reckons the breakeven price for the new project to be in the ballpark of $1,500 to $1,550 psf. Assuming a minimum average unit size of 85 sq m for the new project, the developer could be looking at selling prices north of $1,600 psf, she estimates.
The adjacent project, one-north Residences, was completed in 2009, and prices of units in the 900 to 1,000 sq ft range, have changed hands at prices of around $1,500 psf, year-to-date in 2019, according to Colliers.
In fact, the last residential site to be launched for sale at one-north was the site next door, for the development of one-north Residences, the first condominium project in one-north. That was in 2005, says Desmond Sim, CBRE head of research for Southeast Asia. “The site is located near the one-north MRT station, which presents great accessibility options.”
The healthy interest for the site at one-north also reflects “pent-up demand”, says CBRE’s Sim. “The bidders were probably encouraged by the growing tenant pool as well as the limited options available in the private residential market.” However, the site is also located on top of MRT tracks which may impact the construction process and costs, which led to an experienced developer bidding for the site, notes Sim.
Christine Li, Cushman & Wakefield (C&W) head of research for Singapore and Southeast Asia sees the new development at one-north Gateway further enhancing the work-live-play concept at one-north. She expects to see “strong demand for units in the project” owing to the relative scarcity of housing stock in the one-north precinct, she adds.
In addition, Grab and Razer are currently constructing their headquarters at one-north, with Grab’s facility expected to house up to 3,000 employees, according to C&W. “This could be a source of potential demand as affluent tech workers who work long hours might prefer to live nearby to shorten their commute,” reasons Li.
source:
https://sg.finance.yahoo.com/news/tid-beats-eight-others-highest-192708208.html
SINGAPORE – The one-north Gateway site attracted nine bids by the time the tender process for it and two other plots closed on Thursday (Sept 5).
The top offer was $155.7 million or $1,001 per square foot per plot ratio (psf ppr) lodged by TID Residential, a joint venture between Hong Leong Holdings and Mitsui Fudosan Co.
Tenders also closed for land parcels in Tan Quee Lan Street and Bernam Street.
The Tan Quee Lan Street site received just two bids, led by the $800.2 million or $1,535 psf ppr submitted by a partnership between GuocoLand subsidiary GLL D, Intrepid Investments and Hong Realty.
There were four bidders for the site in Bernam Street, with an offer of $440.9 million or $1,463 psf ppr from Chinese firm HY Realty leading the way.
All three sites have 99-year leases, the Urban Redevelopment Authority noted.
Ms Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield, said developers were focused across the three sites, which may have diluted the bids and resulted in lower bids than expected.
“The bids in this batch tender contrast with the current reading of the residential market of strong home sales and record prices set in many locations,” she added.
Ms Li also noted that the top bids were more measured, a reflection of the uncertainties in the global economy.
“Developers rather err on the side of caution to mitigate downside risks in the event that the supply overhang is intensified by the potential recession in the next 12 months or so,” she said.
Mr Desmond Sim, CBRE’s head of research for South-east Asia, noted that the demand for the one-north Gateway site was unsurprising given its “palatable size and strategic location”.
Bidders were “probably encouraged by the growing tenant pool, as well as the limited options available in the private residential market”, he added, noting that the last residential site in the area was launched in 2005.
Ms Li said technology firm Razer and ride-hailing start-up Grab are building their headquarters in one-north, which could contribute to strong demand for housing, “as affluent tech workers who work long hours might prefer to live nearby to shorten their commute”.
Mr Sim said the Bernam Street site will “also benefit from plans for the Greater Southern Waterfront”.
Huttons Asia research head Lee Sze Teck noted that while the Tan Quee Lan Street site is an attractive one, “only developers with the experience of developing projects in the city centre will participate which is why we do not see many bids”.
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