Page 1 of 17 1234567891011 ... LastLast
Results 1 to 10 of 161

Thread: 105/107 Tampines Road, 337 units, Wing Tai

  1. #1
    tweet @condoexchange

    User Info Menu

    Default 105/107 Tampines Road, 337 units, Wing Tai

    Quote Originally Posted by dtrax
    Source: [url]http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1221332/1/.html[/url]


    SINGAPORE: Property developer Wing Tai foresees a growing possibility of a correction in Singapore's property market.

    This as the firm announced its fourth quarter (Q4) earnings on Tuesday.

    Wing Tai's Q4 net profit slipped 16 per cent to S$140.5 million. This is despite its revenue jumping 88 per cent to S$202.2 million.

    The company said its lower Q4 profit was due to a change in accounting standards, which do not recognise profits from uncompleted units.

    Full-year profit declined 35 per cent year-on-year to S$242.2 million, while turnover dropped 17 per cent to S$624.9 million.

    A total dividend of seven cents per share was also declared.

    Despite the weaker performance, analysts Channel NewsAsia spoke to said the developer's earnings were above expectations.

    The dividend was also a surprise as Maybank Kim Eng's analyst Wilson Liew was expecting dividends to be five cents per share.

    At the results briefing, [B][SIZE="6"][COLOR="Red"]Wing Tai said it is targetting to launch its latest freehold residential development with 337 residential units with one commercial unit next year. [/COLOR][/SIZE][/B]

    [B]Formerly zoned for industrial use, the developer has successfully applied to change the use of its former headquarters to residential.[/B]
    [SIZE="5"][COLOR="Red"]
    Located at Tampines Road near Kovan MRT station[/COLOR][/SIZE], Wing Tai said this latest project which sits on land acquired in the 1960s would help capture any potential uptick in the property market.

    But the property developer believes the market is set for a correction ahead.

    Chairman of Wing Tai Holdings, Cheng Wai Keung, said: "A number of you have been asking why have we not been tendering for URA projects and we have not been active in the market for quite some time.

    "I would still maintain that the correction will be coming and the way I look at it, is that if there is a cycle, if you take away that 2008 temporary drop, you smooth out the curve, it is actually the eighth or ninth year of the rise in this cycle."

    - CNA/ck
    No more warehouse sales?

    From Kim Eng:

    Looking within for redevelopment potential. Management announced plans to redevelop its industrial properties at 105 and 107 Tampines Road into a 337-unit freehold condo with GFA of 297,232 sq ft. We estimate its breakeven cost to be ~SGD870 psf, and assuming an [SIZE="5"][COLOR="Red"]ASP of SGD1,350 psf[/COLOR][/SIZE], the development could return a healthy pre-tax margin of 36%. We estimate an RNAV accretion of 12 cts/sh.


  2. #2
    Divine

    User Info Menu

    Default

    Quote Originally Posted by carbuncle
    No more warehouse sales?

    From Kim Eng:

    Looking within for redevelopment potential. Management announced plans to redevelop its industrial properties at 105 and 107 Tampines Road into a 337-unit freehold condo with GFA of 297,232 sq ft. We estimate its breakeven cost to be ~SGD870 psf, and assuming an [SIZE="5"][COLOR="Red"]ASP of SGD1,350 psf[/COLOR][/SIZE], the development could return a healthy pre-tax margin of 36%. We estimate an RNAV accretion of 12 cts/sh.

    That's quite a good land size for freehold! So near the 99years kg!

  3. #3
    tweet @condoexchange

    User Info Menu

    Default

    Quote Originally Posted by price
    That's quite a good land size for freehold! So near the 99years kg!
    I expect they will build back gate leading to the popular midnight porridge places!!

    However, no sweat for KG as Wing Tai *NEVER* build MM units.

    Previous Developments

    8 Orange Grove [B][U]Kovan Melody[/U][/B] The Bloomsville
    Amaryllis Ville Maplewoods The Grandville
    Blossomvale Newton 18 The Grange
    Burlington Square Oleander Towers The Hillgrove
    Casa Merah Palm Spring The Light at Cairnhill
    Central Green Park Mall The Meritz
    Chancery Park Sentinelle Garden The Nexus
    Cherryhill Sentinelle Watch The Riverine by the Park
    Draycott Eight Taman Bukit Minyak Indah The [email protected]
    Duchess Crest Taman Jentayu Indah The Tessarina
    Eastwood Taman Seri Impian The Tomlinson
    Gems Garden Taman Nagasar The Waterfront
    House of Tan Yeok Nee Tanah Merah Green VisionCrest Residence

    Having said that, I ABSOLUTE ABSOLUTELY love their Riverine By The Park.

  4. #4
    tweet @condoexchange

    User Info Menu

    Default


  5. #5
    tweet @condoexchange

    User Info Menu

    Default

    By Romesh Navaratnarajah:

    Wing Tai Holdings will soon develop a five-block, [COLOR="Red"][SIZE="6"]18-storey[/SIZE][/COLOR] residential project at 105 & 107 Tampines Road, said a company release.

    The development will offer a total of 337 residential units in addition to a commercial unit. The homes would range from [SIZE="6"][B][U]one[/U][/B]- to four- bedders and include dual key units[/SIZE].

    Measuring 141,539 sq ft, the freehold site has a gross floor area (GFA) of 297,232 sq ft and a plot ratio of 2.1.

    Arc Studio Architecture + Urbanism have been appointed as the project architect.

    Meanwhile, the group posted S$202.22 million in revenue for its fourth quarter ended-30 June, up 88 percent from S$107.49 million over the same period last year. Gross profit likewise increased 54 percent to S$98.45 million from 63.75 million previously.

    However, for the year ended-30 June, Wing Taiís revenue dipped 17 percent to S$624.89 million from S$751.1 last year.

    At the same time, gross profit decreased 30 percent to S$305.39 million from S$439.26 million in 2011.

  6. #6
    Senior

    User Info Menu

    Default

    foresque had <500 sq ft units but overall should be ok. should be good mix of 1 to 4 bedders. also, 1350psf may be too low? foresque they also sell at this price rite?


    Quote Originally Posted by carbuncle
    I expect they will build back gate leading to the popular midnight porridge places!!

    However, no sweat for KG as Wing Tai *NEVER* build MM units.

    Previous Developments

    8 Orange Grove [B][U]Kovan Melody[/U][/B] The Bloomsville
    Amaryllis Ville Maplewoods The Grandville
    Blossomvale Newton 18 The Grange
    Burlington Square Oleander Towers The Hillgrove
    Casa Merah Palm Spring The Light at Cairnhill
    Central Green Park Mall The Meritz
    Chancery Park Sentinelle Garden The Nexus
    Cherryhill Sentinelle Watch The Riverine by the Park
    Draycott Eight Taman Bukit Minyak Indah The [email protected]
    Duchess Crest Taman Jentayu Indah The Tessarina
    Eastwood Taman Seri Impian The Tomlinson
    Gems Garden Taman Nagasar The Waterfront
    House of Tan Yeok Nee Tanah Merah Green VisionCrest Residence

    Having said that, I ABSOLUTE ABSOLUTELY love their Riverine By The Park.

  7. #7
    必ず

    User Info Menu

    Arrow

    According to URA master plan 2008 with amendments, the industrial GFR 2.5 plot has been rezoned to residential GFR 1.4 yielding 268 units rather than 337 that wing Tai originally planned for. No more high rise too. Bad news for them?

  8. #8
    Senior

    User Info Menu

    Default

    Like that means they have to resubmit drawings and plans? Cannot right? Who's shouldering the extra cost???

  9. #9
    必ず

    User Info Menu

    Default

    Quote Originally Posted by ysyap
    Like that means they have to resubmit drawings and plans? Cannot right? Who's shouldering the extra cost???
    Not sure, it's quite strange and maybe URA data is outdated. Btw the 268 number is wrong, my mistake .. But the GFR 1.4 residential rezone thingy has been approved since mar 2011.

  10. #10
    Senior

    User Info Menu

    Default

    I wonder if they will be srlling the project as freehold or leasehold.

Page 1 of 17 1234567891011 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •