HDB to release 2 EC sites

[sleek]

HDB to release 2 EC sites
By Jonathan Peeris | Posted: 05 October 2010 1448 hrs

SINGAPORE: The Housing & Development Board (HDB) said it would release on Wednesday two Executive Condominium (EC) sites for sale under the confirmed list of the second half of 2010 Government Land Sales Programme.

Potentially yielding more than 1,000 dwelling units, these two EC sites will offer property buyers more housing choices.

The first new EC site is located in Tampines Town near many facilities and amenities such as schools, supermarkets and a swimming complex.

It has a site area of more than 20,000 square metres and a maximum gross floor area of more than 57,000 square metres.

The tender for this site closes at noon on November 23.

Meanwhile, the second site, located in Bukit Panjang Town, is located next to Segar LRT station, which connects to Choa Chu Kang MRT station.

It has a site area of almost 21,000 square metres and a maximum gross floor area of around 62,5000 square metres.

The tender for this site closes at noon on December 2.

Both sites have been offered for sale on a 99-year lease.

In addition to these two sites, HDB said it would also be releasing another two new residential sites at Punggol Central and Seletar Road later this month.

-CNA/wk

[fooblackie]

HDB to release 2 EC sites
By Jonathan Peeris | Posted: 05 October 2010 1448 hrs

SINGAPORE: The Housing & Development Board (HDB) said it would release on Wednesday two Executive Condominium (EC) sites for sale under the confirmed list of the second half of 2010 Government Land Sales Programme.

Potentially yielding more than 1,000 dwelling units, these two EC sites will offer property buyers more housing choices.

The first new EC site is located in Tampines Town near many facilities and amenities such as schools, supermarkets and a swimming complex.

It has a site area of more than 20,000 square metres and a maximum gross floor area of more than 57,000 square metres.

The tender for this site closes at noon on November 23.

Meanwhile, the second site, located in Bukit Panjang Town, is located next to Segar LRT station, which connects to Choa Chu Kang MRT station.

It has a site area of almost 21,000 square metres and a maximum gross floor area of around 62,5000 square metres.

The tender for this site closes at noon on December 2.

Both sites have been offered for sale on a 99-year lease.

In addition to these two sites, HDB said it would also be releasing another two new residential sites at Punggol Central and Seletar Road later this month.

-CNA/wk

the location of these 2 ECs is really yawn............

[azeoprop]

Yah, location cannot make it. More suitable for bto flats rather than EC.

[2824]

The one at tampines got quarry park view though at least for now

Yah, location cannot make it. More suitable for bto flats rather than EC.

[2824]

Sim Lian should bid for these one, so that they can make it a hat-trick , DBSS, EC & condo.

[sleek]

HDB closes tender for residential site in Tampines
By Jonathan Peeris | Posted: 23 November 2010 2034 hrs

SINGAPORE: The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Avenue 8 after receiving six bids.

The highest bid of S$187.6 million came from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

That translates to about S$292 dollars per square foot per plot ratio.

The land parcel has a site area of more than 20 thousand square metres and a maximum gross floor area of over 57 thousand square metres.

The site was launched for public tender on October 6 and has a lease period of 99 years.

HDB said it will evaluate the tender bids and announce the final tender results within the next two weeks.

-CNA/ac

[sleek]

The details of the provisional tender results are below:

S/N Name of Tenderer Tender Price ($) $psm/GFA ($)

1 Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd $187,590,000 3,252.25
2 Opal Star Pte Ltd and Lum Chang Building Contractors Pte Ltd $172,800,000 2,995.84
3 Grand Isle Holdings Pte. Ltd. $161,500,000 2,799.93
4 EL Development Pte Ltd $148,200,000 2,569.35
5 NTUC Choice Homes Co-operative Limited $147,900,000 2,564.15
6 Sim Lian Land Pte Ltd $141,682,000 2,456.35

[hyenergix]

Estimation of selling price using top bid:

Land price = $301 psf
Construction cost = $250 psf
Profit margin = $200 psf
Selling price = $750-800 psf

Conclusion: what an expensive EC... So do the cooling measures work?

[bargain hunter]

Hoi Hup's Ms Wong said that the plan is to develop a 16-storey project with 575 units on the Tampines Ave 8 plot. About 60 per cent of units will be three-bedroom compact apartments of slightly over 1,000 sq ft; 20 per cent will be two-bedders; slightly more than 10 per cent will be dual-key units comprising a studio unit attached to a two-bedder. The rest will be four-bedders.
'Our breakeven cost will be slightly over $600 psf and we're looking at an average selling price of below $700 psf.'

[hyenergix]

I'm surprised by a construction cost of more than $300 psf for an EC and a profit margin of less than $100 psf in this market... the numbers don't seem quite right... but let's see e actuactual launch price next year :-)

[jitkiat]

if construction cost of HDB-like EC is 300psf, then HDB BTO projects must be running huge deficit

[sleek]

The executive condo (EC) site over at Tampines Ave 8 has received 6 bids, according to HDB. The top bid came from a joint one by Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd with a bid of $187,590,000.
According to experts, the top bid is around 15% more than the top bid at the Pasir Ris Drive 1 EC plot. This reflects optimism from developers, perhaps due to the sales by developers. Also, some say that this 99-year leasehold site has a good location (near Bedok Reservoir) thus the higher bid, as compared to the Pasir Ris EC parcel.

The developers plan to build approximately 570-odd units with mainly 3-bedders, the rest will be one-, two- and four-bedders. And guess what? They are estimating a breakeven cost of $600 psf and an average selling price of $700psf or below.

If this is really so, then things will get exciting, especially since the recently launched Waterview, which is just next door, went for an average of $838 psf.

The other bids are:
Opal Star Pte Ltd and Lum Chang Building Contractors Pte Ltd - $172,800,000
Grand Isle Holdings Pte. Ltd. - $161,500,000
EL Development Pte Ltd - $148,200,000
NTUC Choice Homes Co-operative Limited - $147,900,000
Sim Lian Land Pte Ltd - $141,682,000

[devilplate]

According to experts, the top bid is around 15% more than the top bid at the Pasir Ris Drive 1 EC plot. This reflects optimism from developers, perhaps due to the sales by developers. Also, some say that this 99-year leasehold site has a good location (near Bedok Reservoir) thus the higher bid, as compared to the Pasir Ris EC parcel.


IMO, this plot is not any better...

[focus]

No wonder waterview priced to sell..
This EC will take away all the business if it is indeed launched at $700psf..

[devilplate]

No wonder waterview priced to sell..
This EC will take away all the business if it is indeed launched at $700psf..

waterview at 850psf...and nearby EC at 700psf sounds alright...fair competition....EC so many restraints and condition....goto price 15-20% lower at least for the 3+5yrs precious time 'wasted opportunity'

[devilplate]

so far only espirina EC can make it nia...and later on the DBSS at bedok reservoir will be very exciting too

[sleek]

Land parcel at Tampines Ave 8 awarded
Posted: 25 November 2010 2253 hrs

SINGAPORE : The Housing & Development Board (HDB) has awarded the tender for the land parcel at Tampines Avenue 8 to joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

They submitted the highest tender for the site at S$187.6 million out of a total of 6 bids received.

That translates to about S$302 per square foot per plot ratio.

The land parcel has a site area of more than 20,000 square metres and a maximum gross floor area of over 57,000 square metres.

It has been earmarked for executive condominium housing.

The site was launched for public tender on October 6 and has a lease period of 99 years.

- CNA /ls

[shauntanzs]

so far only espirina EC can make it nia...and later on the DBSS at bedok reservoir will be very exciting too

I think price will depend on the 2nd Tampines Dbss sales..

[sleek]

The details of the provisional tender results are below:
S/N Name of Tenderer Tender Price ($) $psm/GFA ($)
1 Grand Isle Holdings Pte Ltd $181,990,000 2,911.73
2 EL Development Pte Ltd $157,500,000 2,519.91
3 Opal Star Pte Ltd and Lum Chang Building Contractors Pte Ltd $128,310,000 2,052.88
4 Pinnacle Realty Pte Ltd $120,000,000 1,919.93
5 Sim Lian Land Pte Ltd $113,000,000 1,807.93

HDB will evaluate the tender bids and announce the final tender results within the next two weeks
.