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SINGAPORE: People’s Park Centre in Chinatown will be put up for collective sale with a guide price of S$1.48 billion (US$1.14 billion), its real estate agency ERA Realty Network said on Wednesday (Jul 15).<\/p>\n
This marks the property’s third collective sale attempt, following failed bids in 2019 at a reserve price of S$1.35 billion that did not secure owner consent and in 2022 at a reserve price of S$1.8 billion that attracted no bids.<\/p>\n
Completed in 1976, People’s Park Centre features a 13-storey block and a 30-storey block, consisting of 324 retail units, 256 office units, 120 residential units and a multi-storey car park. It sits on a land area of 95,467 sq ft and commands a 124m frontage along Eu Tong Sen Street.<\/span><\/p>\n The building is located at 101 Upper Cross Street and is next to Chinatown MRT station, offering direct access to the North-East and Downtown MRT Lines. It is also <\/span>near attractions such as the Chinatown Heritage Centre and Buddha Tooth Relic Temple, as well as shopping complexes like Chinatown Point and Riverside Point.<\/p>\n In March, National Development Minister Chee Hong Tat announced plans to <\/span>develop 60-storey Build-To-Order (BTO) flats<\/span> in the nearby Pearl’s Hill precinct. This will be Singapore’s tallest public housing project and the first BTO project in over 40 years.<\/span><\/p>\n ERA said that the area’s ongoing transformation is expected to “contribute to the locality\u2019s vibrancy over time and support future commercial\u00a0activity”.<\/span><\/p>\n The site is zoned for commercial use under the Urban Redevelopment Authority’s<\/span> Master Plan 2025. Its guide price reflects an estimated land rate of S$2,455 per square foot per plot ratio, assuming approval is obtained for a lease top-up to a fresh 99-year tenure, said ERA.<\/p>\n “As one of the largest redevelopment opportunities in Singapore’s city centre, the site presents a rare opportunity for developers to transform an iconic landmark and shape the next chapter of Chinatown’s evolution,” said ERA.<\/p>\n The tender for People’s Park Centre will launch on Thursday and will close on Sep 16, 3pm.<\/p>\n<\/div>\n SINGAPORE: People’s Park Centre in Chinatown will be put up for collective sale with a guide price of S$1.48 billion (US$1.14 billion), its real estate…<\/p>\n","protected":false},"author":1,"featured_media":68969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--jurpDnbY--\/c_crop,h_900,w_1600,x_0,y_47\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2026\/07\/15\/era_exclusive_peoples_park_centre_100_enhanced_fi.jpg.jpeg?itok=IO7CQkPF","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[2513,1242,10238,1021,2515,1032,2586,1677,2563,1376,26567,1305],"class_list":["post-68968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-attempt","tag-billion","tag-bloc","tag-centre","tag-failed","tag-guide","tag-market","tag-park","tag-peoples","tag-price","tag-s1-48","tag-sale","wpcat-2-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/68968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68968"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/68968\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/68969"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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