Is Zion Road Parcel A worth it

Zion Road Parcel A and Parcel B are highly significant sites in the Singapore real estate market, particularly due to their prime locations and development potential.

Zion Road Parcel A

• This site was awarded to a joint venture between City Developments Limited (CDL) and Japanese property developer Mitsui Fudosan for $1.107 billion, or approximately $1,202 per square foot per plot ratio (psf ppr).
• It is a pilot site for long-stay serviced apartments, allowing for a minimum stay of three months, and can yield 735 conventional housing units and 435-500 long-stay serviced apartments.
• The site's proximity to Great World City, Havelock and Great World MRT stations, and other amenities makes it highly attractive for developers and potential residents.

Zion Road Parcel B

• This site was triggered for sale under the Reserve Listing of the Government Land Sales (GLS) program with a minimum bid price of $604.57 million.
• It has a highest acceptable gross floor area of about 559,744 square feet and is expected to yield approximately 610 exclusive housing units.
• The site's location near Great World and Havelock MRT stations, Great World City, and other local amenities enhances its appeal for residential development.
• Analysts predict that the top bid for this site could be valued between $1,100 and $1,200 psf ppr, reflecting developers' confidence in the area's demand.

Both parcels are seen as prime opportunities for residential and potentially mixed-use developments, given their central locations and access to major amenities and public transport. The interest in these sites underscores the strong market confidence in the area's real estate potential.