Monthly Archives: March 2010

Sim Lian puts in top bid of S$302m for leasehold site at Tampines

Posted on 16 Mar 2010 | Comments Off on Sim Lian puts in top bid of S$302m for leasehold site at Tampines

Developer Sim Lian Land placed the top bid of S$302 million for the residential site at Tampines Avenue 1 & Avenue 10.

The tender for the 3.2 hectare site with a lease of 99 years attracted a total of eight bids.

The second highest bid of nearly S$288.99 million came from a joint venture of Far East Organisation and Frasers Centrepoint.

That’s followed by MCL Land’s bid of about S$278.3 million.

According to the Urban Redevelopment Authority, the remaining bids range between S$168 million and S$252 million.

Real Estate consultancy CB Richard Ellis said the tender for the condominium site further demonstrates developers’ interest in the mass market segment.

It added that the top bid of S$302 million translates to S$421 per square foot per plot ratio.

Based on that, CBRE said the new project will break-even at around S$700 psf.

It expects the homes to be priced around S$700 to S$850 psf or higher, comparable to projects in the Bedok Reservoir area.

The tender will be awarded after the bids have been evaluated.

Source : Channel NewsAsia – 16 Mar 2010

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HDB launches 2 BTO projects in March

Posted on 16 Mar 2010 | Comments Off on HDB launches 2 BTO projects in March

The Housing and Development Board (HDB) has launched two new Build-To-Order (BTO) projects – Fernvale Ridge in Sengkang and Sembawang RiverLodge in Sembawang.

Close to 830 flats will be offered in total, most of which are four-room units. HDB said 95 per cent of the flats will be set aside for first-timers.

Flats in Fernvale Ridge range in price from S$128,000 for a three-room unit to S$352,000 for a five-room flat.

At Sembawang RiverLodge, three-room units start from S$128,000. Four-room units cost between S$212,000 and S$268,000 each. Sembawang RiverLodge will also have 126 two-room flats.

HDB said they will not be offered for sale at this time, but will be set aside to meet the housing needs of lower-income families at a later date.

Next month, HDB will launch another 1,200 BTO flats in Punggol. These launches are part of its plan to offer at least 12,000 new BTO flats this year, or more if there is demand.

Source : Channel NewsAsia – 16 Mar 2010

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Posted in HDB

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