Media Circle (long-stay serviced apartments)
Tender not awardedResidential for long-stay serviced apartments only, with commercial at 1st storey. URA sale site.
The tender received one bid, which was assessed to be too low, and was not awarded. Decided 3 October 2024 on the close of 19 September 2024.
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
3 October 2024
Not awardedNo award for tender of URA sale site at Media Circle
Not awarded
The tender received one bid, which was assessed to be too low, and was not awarded. The close of 19 September 2024 received 1 bid.
Read the press releaseHide the press releaseura-pr24-46
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1. The Urban Redevelopment Authority (URA) closed the tender for the Government Land Sales site at Media Circle for Long-stay Serviced Apartments on 19 September 2024, with a sole bid submitted by FCL Land Pte. Ltd., Padawan MC Pte. Ltd. and Empire One North Property Pte. Ltd. The tender has not been awarded as the sole bid is assessed to be too low (see details of the tender for the site in
).
2. Details on the Media Circle site can be found in
._
19 September 2024
Tender closedTender closing for URA sale site at Media Circle
1 bid disclosed
Highest S$120,088,888 (S$4,960.10 psm GFA) from FCL Land Pte. Ltd., Padawan MC Pte. Ltd. and Empire One North Property Pte. Ltd.
Read the press releaseHide the press releaseura-pr24-44
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1. The Urban Redevelopment Authority (URA) closed the tender for the site at Media Circle today.
2. The site at Media Circle was launched for public tender on 30 May 2024.
3. Please see Annex A for details of the site and tender bid received.
4. This is not an announcement of tender award. A decision on the award of the tender will be made after the bid has been evaluated. This will be publicised at a later date.
30 May 2024
Launched for tenderURA releases two sale sites at Margaret Drive and Media Circle
Read the press releaseHide the press releaseura-pr24-26
1. The Urban Redevelopment Authority (URA) has released two residential sites at Margaret Drive and Media Circle for sale today under the Confirmed List of the first half 2024 (1H2024) Government Land Sales (GLS) Programme.
2. The site at Margaret Drive can potentially yield 460 residential units, while the site at Media Circle can potentially yield 520 long-stay Serviced Apartments1. These form part of the 5,450 residential units to be made available via the Confirmed List of the 1H2024 GLS programme. To cater to demand, the Government has increased the Confirmed List supply of private housing in the GLS programme to 5,450 units in 1H2024, from 4,090 units in 1H2023 and 5,160 units in 2H2023. This is the highest supply on the Confirmed List in a single GLS Programme since the 2H2013 GLS Programme.
3. Details on the two land parcels can be found in Annex 1.
Other Details 4. The tender for the Margaret Drive site will close at 12 noon on 1 August 2024, together with an Executive Condominium site at Jalan Loyang Besar. The tender for the Media Circle site will close at 12 noon on 19 September 2024, together with a Commercial & Residential site at Tampines Street 94. More details on the two land parcels are available on the URA website at:
1 The Media Circle site will be launched for tender as a dedicated long-stay Serviced Apartments site, under the Serviced Apartments II (SA2) typology. More information on planning guidelines for SA2 developments is available via the circular issued by URA dated 4 December 2023 – “Guidelines for Serviced Apartments II (SA2)”.
Site facts
- Selling authority
- URA
- Allowable development
- Residential for long-stay serviced apartments only, with commercial at 1st storey
- Tenure
- 60 yearsNot the 99-year term of an ordinary residential GLS parcel.
- Programme list
- Confirmed List, launched for tender[ura-pr24-26/pr24-26a.pdf]
- Site area
- 5,764.3 sqm[ura-pr24-26/pr24-26a.pdf]
- Maximum GFA
- 24,211 sqm[ura-pr24-26/pr24-26a.pdf]
- Estimated long-stay serviced apartments
- 520SA2 units, counted apart from conventional housing.[ura-pr24-26/pr24-26a.pdf]
- Height control
- 79m SHD[ura-pr24-26/pr24-26a.pdf]
- Tender conditions
- Lease term: 60 years. A 60-year lease, not the 99-year residential term
- Long-stay serviced apartments (SA2): share of residential units: All residential units are SA2; the 520-unit estimate is an SA2 estimate
- Long-stay serviced apartments (SA2): minimum tenancy: 3 months
- Long-stay serviced apartments (SA2): strata subdivision for sale: Prohibited
- Facts as stated on
- 30 May 2024
Bids at the close of 19 September 2024
1 priced bid as listed in ura-pr24-44. S$ psm of GFA is the published rate; psf ppr is derived from it.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | FCL Land Pte. Ltd., Padawan MC Pte. Ltd. and Empire One North Property Pte. Ltd. | S$120,088,888 | S$4,960.10 | S$461 | Not awarded |
The market when bids closed
When bids closed on 19 September 2024, URA's latest quarterly figures were for 2Q2024, published 26 July 2024, 55 days earlier. The next release, 3Q2024, came on 25 October 2024. The table carries on through four releases after it.
| Private residential | 4Q2023Jan 2024 | 1Q2024Apr 2024 | On the day2Q2024Jul 2024 | 3Q2024Oct 2024 | 4Q2024Jan 2025 | 1Q2025Apr 2025 | 2Q2025Jul 2025 | Trend | Change2Q2024 to 2Q2025 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 201.5 | 204.3 | 206.1 | 204.7 | 209.4 | 211.1 | 213.2 | +3.4% | |
| Non-landed, core central region | 148.1 | 153.1 | 152.6 | 150.9 | 154.8 | 156.0 | 160.7 | +5.3% | |
| Private rental index | 161.0 | 157.9 | 156.6 | 157.9 | 157.9 | 158.5 | 159.8 | +2.0% | |
| Sales | |||||||||
| New homes sold by developers | 1,092 | 1,164 | 725 | 1,160 | 3,420 | 3,375 | 1,212 | +67.2% | |
| Resales | 2,831 | 2,689 | 3,802 | 3,860 | 3,702 | 3,565 | 3,647 | −4.1% | |
| Sub-sales | 411 | 377 | 388 | 352 | 311 | 321 | 269 | −30.7% | |
| Units launched | 1,060 | 1,304 | 634 | 1,284 | 3,425 | 3,139 | 1,520 | +139.7% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 16,929 | 19,936 | 19,940 | 19,405 | 18,125 | 18,498 | n/a | ||
| Pipeline with planning approval | 34,251 | 38,167 | 37,768 | 35,475 | 35,305 | 35,364 | 36,663 | −2.9% | |
| Vacancy rate | 8.1% | 6.8% | 6.1% | held | 6.6% | 6.5% | held | n/a | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 30 May 2024
URA releases two sale sites at Margaret Drive and Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- ab2156b51156acc75ec975a8f820035b29a888584272b0224401513843792a70
- Size
- 432,870 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 15:39:37 UTC
- Prevo reference
- ura-pr24-26
- AnnexPublished 30 May 2024
Annex 1 to URA releases two sale sites at Margaret Drive and Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 114482a3ea765a79385629f943b686b75120f447ffbf34eb6fe68809b11adcc9
- Size
- 36,567 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 15:39:37 UTC
- Prevo reference
- ura-pr24-26/pr24-26a.pdf
- Press releasePublished 19 September 2024
Tender closing for URA sale site at Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
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- Size
- 426,808 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 15:39:38 UTC
- Prevo reference
- ura-pr24-44
- AnnexPublished 19 September 2024
Annex A to Tender closing for URA sale site at Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 70096bf1a2ddb798d9187199d5aa346a7302499278d3dcd4cf12516b06c109c8
- Size
- 5,882 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 15:39:38 UTC
- Prevo reference
- ura-pr24-44/pr24-44a.pdf
- Press releasePublished 3 October 2024
No award for tender of URA sale site at Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 3947ede7481c8912694f39fd506c6a757a012fa9e2c50b0c81595b8aec4e0f5b
- Size
- 429,796 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 15:39:38 UTC
- Prevo reference
- ura-pr24-46
- AnnexPublished 3 October 2024
Annex 1 to No award for tender of URA sale site at Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- c84e976fb2df46116fa4bd3bec65c236da39a4231d3da397e1c5a643b1b02573
- Size
- 13,638 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 15:39:38 UTC
- Prevo reference
- ura-pr24-46/pr24-46a.pdf
- AnnexPublished 3 October 2024
Annex 2 to No award for tender of URA sale site at Media Circle
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 3af2608802d3878faef3eea8285de74e1a26c71b08a9eab9d118ceb71fdc3d37
- Size
- 15,539 bytes
- Format
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- Retrieved at
- 2026-09-18 15:39:38 UTC
- Prevo reference
- ura-pr24-46/pr24-46b.pdf