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Thread: Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

  1. #1
    Junior

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    Default Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

    Mon, Jul 04, 2011
    AsiaOne

    Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

    The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Choa Chu Kang Road / Phoenix Road to Far East Civil Engineering and China Construction (South Pacific) Development Co. Pte Ltd. The joint bidders submitted the highest bid of $142.78 million, which was the highest bid in the tender for the site. this translates to about S$411 per square foot per plot ratio.
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    The next highest bid came from EL Development at S$122 million.

    The land parcel, offered for sale on a 99-year lease term, has an area of over 15,000 square metres and a maximum permissible gross floor area of 32,000 square metres. It attracted five bids when the tender opened on May 5. Bidding closed on Jun 30.


    The 1.54 hectare site has a maximum permissible gross floor area (GFA) of 347,800 sq ft, which allows a developer to build about 335 units. The new residential development is within walking distance of the Phoenix and Teck Whye LRT stations, and will be near an upcoming shopping mall and the future Bukit Panjang MRT station.

  2. #2
    Junior

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    Breakeven and Selling estimate anyone?

  3. #3
    Exalted

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    Quote Originally Posted by solsys
    Breakeven and Selling estimate anyone?
    analyst oredi said 800psf breakeven which i tink is way inflated...shd be 700psf

    selling px up to FEO liao...

  4. #4
    Senior

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    sell at 1000psf....

  5. #5
    Exalted

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    Quote Originally Posted by radha08
    sell at 1000psf....
    y not....tennery oredi from 1100psf to 1400psf....1kpsf CHEAP CHEAP LIAO BUY BUY!

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