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Thread: Maysprings

  1. #11
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    Quote Originally Posted by wreckwrx
    BTw, Maysprings is only LH99....

    And totally agree about the odd-shaped interior layout.
    Thanks for the correction re 99LH status. Now there's even a time decay factor like those share warrants

  2. #12
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    Quote Originally Posted by Geylang OKT
    Maysprings is crap. The 999LH devt is sited in the middle of nowhere. One must also take the LRT to CCK MRT. Hordes of irregular shaped units too. Just a couple of years ago, a 3 bedder would have sold for around $450k, and rental was like, say... $1200-$1500
    Yeah. Just a couple of years ago, your HDB flat is also sold for $180k.

  3. #13
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    And, the contract for Bukit Panjang station for downtown line is awarded to Lum Chang - see LTA press release:

    http://app.lta.gov.sg/corp_press_content.asp?start=2149

    LTA Awards 2 Downtown Line Contracts

    1. The Land Transport Authority (LTA) is pleased to announce the award of two contracts C912 and C921 with an approximate value of S$1.26 billion for the Downtown Line Stage 2 (DTL2) project.

    Contract 912

    2. Contract 912 is for the design and construction at Bukit Panjang station and its associated tunnels. It has been awarded to Lum Chang Building Contractors Pte Ltd at approximately S$452.4 million.

    3. The Bukit Panjang station is also a Civil Defence (CD) shelter and is located along Upper Bukit Timah Road at the junction of Bukit Panjang and Choa Chu Kang Road / Woodlands Road.

    4. Lum Chang Building Contractors Pte Ltd is a local contractor with extensive experience in the construction of both rail and building projects. Their on-going Circle Line projects with LTA via a joint venture with Nishimatsu Construction Co., Ltd for Contracts 823 Mountbatten, Dakota & Paya Lebar stations and associated tunnels, and Contract 828 Nicoll Highway & Stadium stations and associated tunnels, are nearing completion.

    Contract 921

    5. Contract 921 for the design and construction of Rochor and Little India stations and associated tunnels has been awarded to SsangYong Engineering & Construction Co., Ltd for a contract sum of S$803.3 million.

    6. SsangYong Engineering & Construction Co., Ltd. is a South Korean company with expertise in a diverse range of large-scale civil engineering and infrastructural projects. The company has extensive transit construction experience in Korea and building works experience in Singapore. Among the company's notable achievements in Singapore are the Suntec City and Raffles City (comprising the 73-storey Swissotel). It is also building the mega project Marina Bay Sands IR Hotel Package in Singapore. SsangYong constructed many subway projects in Seoul and other major cities. The company has also completed nine highway projects in countries such as Kuwait, India and Indonesia.

    7. Construction of the three stations is scheduled to commence in the third quarter of 2009 and targeted to complete by 2015.

    About Downtown Line 2

    8. The 40-kilometre DTL will be mostly underground and will be built in three stages. When completed, the DTL will facilitate direct travel from the northwestern and eastern areas of the island to the Central Business District (CBD) and the Marina Bay. It will also provide a strategic transport link to support the development of the Marina Bay area. The entire DTL is scheduled for completion in 2016.

    9. DTL2 will be built fully underground. The 16.6-kilometre long rapid transit system will comprise of 12 stations and one depot. When completed in 2015, DTL2 will link commuters from the Bukit Timah corridor to the North East Line (NEL), North South Line (NSL) and Circle Line (CCL) respectively, giving them greater accessibility to the rest of the island and significantly improving travel time. It will link the north-western part of the island through DTL1 to commercial, residential and entertainment developments in the Marina Bay area.

  4. #14
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    The plot ratio understand 3.1 which can build up to 36 storey which now Mayspring is 24 storey. When the downtown line is up you can travel straight to newton and bugis. Also you pass the bukit timah nature reserve and botanic garden. Also mrt is underground no train noise. Also a few good schools nearby.

  5. #15
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    See article below on the benefit to students and riders. However, though the recent transacted prices averages to about $455psf; the asking rates seems to be way above this figure. (But anyway not high as the recent launches in the CCK area)

    Work on MRT Downtown Line phase 2 starts
    By Tyler Thia, Channel NewsAsia | Posted: 03 July 2009 2046 hrs


    Work on MRT Downtown Line phase 2 starts

    SINGAPORE: Work on phase two of the MRT Downtown Line (DTL2) started on Friday. When DTL2 opens in 2015, residents and students along the Bukit Timah corridor can enjoy faster access to the city area.

    The S$12 billion Downtown Line consists of three phases. Phase one of the line (DTL1) is on schedule to open in 2013, while tenders for phase three of the line will be called next year.

    The ground-breaking ceremony for the start of construction for the DTL2 was held near Beauty World Plaza, one of the first sites to begin work.

    Transport Minister Raymond Lim was the guest-of-honour at the ceremony. Representatives from six firms which won part of the 10 civil contracts were also present to give their pledge for work safety.

    DTL2 will run from Bukit Panjang, along the Bukit Timah corridor and terminate at Rochor Station, where passengers can connect at Bugis to DTL1.

    60,000 students from 32 schools along DTL2 will also benefit when it opens six years later. The schools include Zhenghua Primary and Fajar Secondary at the northern end, and Lasalle SIA College and the Singapore Management University (SMU) in town. .................................

    ........................................................
    LTA says the Rochor and Beauty World stations will have the most extensive work, with Rochor Canal and Upper Bukit Timah Road to be realigned.

    But residents and merchants are happy that work on DTL2 has finally begun.

    Currently, residents along the Bukit Timah corridor will have to take the bus and ride on the North-South or East-West Line to get to town or the east.

    However with the completion of DTL2 in 2015, their journey will be reduced by 5 to 25 minutes, or up to 30% of the total travelling time.

  6. #16
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    In a few years, Singapore economy will be on track towards recovery. The MRT station will also be ready for opening. When the time comes, wow lau....property prices in Bukit Panjang will fly, HDB and Condo alike.... In fact, properties in Bukit Panjang is climbing upwards steadily..

  7. #17
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    Any idea of developer buying the plot of land at the bukit panjang for condo development. I understand there is interested developer for that plot of land . I think near end of petir road. I think future Mrt link to newton and bugis direct should be good for rental and for own stay.

  8. #18
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    Default Developer set to bid $62m for Bt Panjang

    See:

    Thu, Jul 23, 2009
    The Straits Times


    Developer set to bid $62m for Bt Panjang condo site

    By Fiona Chan

    EVER since the collapse of Lehman Brothers in the United States and Singapore's slide into recession, the Government has been unable to attract bids for residential development sites.

    But yesterday - after 10 straight months without selling a single residential site - the Government said it had finally received an offer for a condominium parcel in Bukit Panjang.


    An unnamed property developer has committed to bid at least $62 million for the 244,347 sq ft plot, in what consultants say is a further sign of the property market's rebound.

    The 99-year leasehold site located along Chestnut Avenue has been sitting on the Government's reserve list since March last year. Sites on the reserve list are made available for sale, but are not launched for tender until a developer puts in a minimum bid.

    Now that the Chestnut Avenue plot has been triggered for sale, it will be put up for tender by the Housing Board by the end of this week, HDB said yesterday.

    The bid submitted works out to about $120 per sq ft (psf) of potential gross floor area, as compared with the $220 to $270 psf expected when the site was first made available in March last year.

    Mr Li Hiaw Ho, executive director of CB Richard Ellis Research, thinks the final winning bid will be $150 to $160 psf of potential gross floor area, or $76 million to $82 million in total.

    The Chestnut Avenue site can accommodate a development of about 450 units.

    If sold, it will be the first state-owned residential development sale since Sept 10 last year - just before Lehman's demise - when a condo site at the junction of New Upper Changi Road and Tanah Merah Kechil Avenue went for $84 million.

    A few days later, on Sept 16, the HDB launched an executive condominium site at Punggol Field, but found no takers.

    Now that buyers are returning in large numbers to showflats, developers' confidence appears to be on the rise, according to consultants.

    Home buyers have been snapping up more than 1,000 new homes each month since February, culminating in a record 1,825 new homes sold last month - even more than the number sold in August 2007, the peak of the boom two years ago.

    Last week, owners of the freehold Dragon Mansion in Spottiswoode Park Road launched the year's first collective sale, with a bullish price tag of $120 million.

    Yesterday's offer for Chestnut Avenue shows that there is renewed interest in the market, according to Jones Lang LaSalle's head of Singapore research Chua Yang Liang, who is still only cautiously optimistic.

    'The market is stirring and some developers may be excited, but by and large I don't think there's an overall bullishness in the market,' he said.

    And he predicts just a handful of bids for the Chestnut Avenue land.

    'I'm not sure if the rest of the developers will bite, considering there is still uncertainty in the larger economy.'

    The site is located near other property developments such as Maysprings, Cashew Heights Condominium and Hazel Park Condominium. In recent months, units at the 99-year leasehold Maysprings have been sold at just below $500 psf, while those at the other two condos - both freehold - have gone for $560 to $600 psf, said CB Richard Ellis Research's Mr Li.

    He expects the developer who buys the Chestnut Avenue site to plan to sell finished units at more than $600 psf. Such entry-level private homes would be targeted at HDB upgraders - a promising segment of buyers unaffected by fears of a possible oversupply of mid-tier and high-end homes.

    Analysts are anticipating more developers to resume buying land in the second half of this year, given that the Urban Redevelopment Authority has received inquiries about some of the other sites on its reserve list.

    Also, as market sentiment improves, developers have started to pick up land meant for hotel and industrial development.

    Earlier this month, $43.9 million was offered for a hotel site in New Bridge Road, prompting a public tender for the plot. And last month, 14 valid bids were received for a hotel site in Short Street.

    This article was first published in The Straits Times.

  9. #19
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    if mayspring $400psf, i wil grab it tomorrow...

  10. #20
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    Default Developer set to bid $62m for Bt Panjang

    Went jogging this morning and passed by the actual site which is at the junction of Chestnut Ave and Petir Rd... No where near Maysprings nor Cashew Heights or even Hazel Park as these developments at the other end of Petir Rd (also the more "populated" end as well).

    The new site is good for those that really like their greenery and serenity....

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