View Full Version : Government Land Sales Programme - Launch of Tender for Private Residential Developmen
http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/A9708E8F3CEDA2564825790C0008CC06?OpenDocument
Plot next to Capitaland site @ Bishan release today
Capitaland will be under pressure to make top bid to win this plot.., min $850psf...?
Capitalland better make an aggressive bid to protect their own site beside this. Or else if the resulting bid is much lower than the one next door will be disastrous for them. :rolleyes:
Capitaland paid $869psf ppr..., let see winning bid now...
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1112817/1/.html
"
SINGAPORE: A 99-year leasehold land site for condominium housing in Bishan has attracted a record 19 bids at the close of its tender by the Housing & Development Board (HDB), the highest number of bids in 12 years.
This is just one bid higher than the Simei Street 3 land site tender in May last year. The site has since been developed into the My Manhattan by CEL Development.
The highest bid came from CapitaLand at S$550.1 million or S$869 per square foot per plot ratio (psf ppr) submitted through its wholly-owned subsidiary Bishan Residential Development.
CapitaLand's bid is 27 per cent higher than the second highest bidder Keppel Land Realty, which submitted a bid of S$432.3 million."
It's on the reserve list.... So might not have any developers that will trigger it
kingkong1984
15-09-11, 23:01
this one is there for the interested party to bid.
No brainer, if reserved price is $500 psf, you would have some developers interested to bid.
You might see a joint bid by 2 developers and my sense is that FEO will go for this, may partner frasers...
Capitalland better make an aggressive bid to protect their own site beside this. Or else if the resulting bid is much lower than the one next door will be disastrous for them. :rolleyes:
Apart from this, still got 3 sites that are nearer to mrt & shopping mall. How :doh:
linchong84
16-09-11, 00:41
this one is there for the interested party to bid.
No brainer, if reserved price is $500 psf, you would have some developers interested to bid.
You might see a joint bid by 2 developers and my sense is that FEO will go for this, may partner frasers...
most often than not, they partner frasers for shit location only.. to minimise risk.. for good locations, they grab profits themselves..
They'll need to come out with a lot of money if they are to dominate this neighbourhood. They had set the standards for themselves with that ridiculous bid.
Apart from this, still got 3 sites that are nearer to mrt & shopping mall. How :doh:
The more CL defends, they will sink in deeper! :tsk-tsk:
Not sure if they can still set an equivalent $ppr for this site. There are a few more site in this area. That is why REDAS president also the CL CEO for residential indirectly ask him not to release anymore GLS. Unfortunately, HDB release it.
They'll need to come out with a lot of money if they are to dominate this neighbourhood. They had set the standards for themselves with that ridiculous bid.
Reserved site may have to wait long long before trigger...
CapitaLand eyes launch of Bishan condo by Q1
Likely price for 99-year units understood to be at least $1,450 psf
By UMA SHANKARI
CAPITALAND plans to launch its condominium in Bishan Central by the first quarter of 2012 and set a benchmark price for the area, even as the property group braces itself for a chill in Singapore's property market.
http://www.businesstimes.com.sg/mnt/media/image/launched/2011-09-16/BT_IMAGES_UMCAP16.jpg (http://forums.condosingapore.com/)Big designs: An aerial view of the Bishan condo project whose lead designer is architect Moshe Safdie The project is likely to be launched for at least $1,450 per square foot (psf), BT understands.
CapitaLand, which has appointed architect Moshe Safdie as the lead designer for the project, said that units in new launches in Bishan and Upper Thomson sell for around $1,300-1,400 psf.
But CapitaLand's project, which is 'exceptionally well-designed and located', will sell for a premium over what other properties command, said Wong Heang Fine, chief executive of the group's Singapore residential arm.
He put the break-even price for the project at about $1,300 psf at a briefing for media and analysts yesterday.
CapitaLand clinched the site at $869 psf of potential gross floor area in a state tender in February 2011 - a new high for 99-year-leasehold suburban condo land in Singapore. The new development on the site will have around 500 apartments across two 38-storey towers.
CapitaLand Residential Singapore holds a 75 per cent equity stake in the project while Mitsubishi Estate Asia holds 25 per cent.
Looking ahead, CapitaLand expects Singapore's residential and office markets to cool. Unlike last year, there won't be double-digit growth in residential property prices this year, Mr Wong said. He expects home prices to moderate although basic demand is likely to continue to support the market.
'Because of the various government measures, we expect (growth in) prices to moderate,' said Mr Wong at the press briefing. 'But because of Singapore's economic growth, low interest costs and high liquidity, we expect prices to maintain . . . basic demand is still out there.'
Similarly, office rents in Singapore will moderate, said Chong Lit Cheong, chief executive of CapitaLand's commercial unit.
CapitaLand, its property trust CapitaCommercial Trust and Mitsubishi Estate Asia plan to turn the Market Street Car Park into a 720,000 sq ft, 40-storey office tower. Mr Chong acknowledged that many tenants have already taken on large tracts of space in projects that will be completed in 2011, 2012 and 2013.
So the partners are targeting the completion of the Market Street office tower by the second half of 2014, when there will be no significant new Grade A office supply in Singapore's central business district. This will allow the project to capture the year's office demand, Mr Chong said.
The total development cost for the Market Street office tower is estimated to be $1.4 billion. When completed, the development is expected to generate a yield-on-cost of more than 6 per cent per year on a stabilised basis.
The office tower, which is designed by architect Toyo Ito, will feature greenery on every floor as well as extensive sky gardens on three levels and a roof garden.
$1,450psf for Bishan. $1,300psf for the other side of Bishan. No wonder Clover owners are smiling.
devilplate
16-09-11, 13:23
this one 1500psf just enuff to support clover 1200psf......
bargain hunter
16-09-11, 13:42
breakeven 1300, sell at 1450psf, after all that hard work, capitaland makes such small margins. all becoz they overpaid for the land.
allgreen's 291psf purchase at upper serangoon by allgreen will earn better margins. :doh:
rattydrama
16-09-11, 13:47
It's on the reserve list.... So might not have any developers that will trigger it
FEO can trigger and make capital bid high and kill them. hahaha
rattydrama
16-09-11, 13:52
The more CL defends, they will sink in deeper! :tsk-tsk:
will the share price be affected?
this one 1500psf just enuff to support clover 1200psf......
They probably just take resale x 125-130% to arrive at their new units price. Anyhow hantum also can get a ballpark number.
will the share price be affected?
Think so..
Capitaland price has trended downward from a high of $5 (Feb 2010) to $2.59 (Today). Interestingly, Keppel Land slide from a high of $5 (Nov 2010) to $3.00 (today).
Looks like investors start to look bearish on Capland 8 months ahead of Keppel... Why?:2cents:
The winners in this project are the nearby ECs and condos, and the government itself.
The winners in this project are the nearby ECs and condos, and the government itself.
Loser: Shareholders from all Singaporeans as Garment is the biggest shareholder...
CL has to pray hard to ensure there are demand for this development when they launch next year. It may be another D'leedon. :scared-4:
this one 1500psf just enuff to support clover 1200psf......
rattydrama
16-09-11, 15:10
Think so..
Capitaland price has trended downward from a high of $5 (Feb 2010) to $2.59 (Today). Interestingly, Keppel Land slide from a high of $5 (Nov 2010) to $3.00 (today).
Looks like investors start to look bearish on Capland 8 months ahead of Keppel... Why?:2cents:
capland too many landbank the going might not be too rosy.
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