HDB awards Jurong EC site at $272.8m

Posted on 5 Aug 2013 | Comments Off on HDB awards Jurong EC site at $272.8m

An executive condominium (EC) site at Yuan Ching Road/Tao Ching Road in Jurong has been awarded to a consortium comprising Evia Real Estate, BBR Development, CNH Investment and OKP Land, after it offered the top bid of S$272.83 million.

The 217,298 sq ft site received an overwhelming response with 16 bidders when its tender closed on 30 July, according to the housing board.

Meanwhile, two other EC sites whose tenders closed on the same day have also been awarded to their respective top bidders.

The 146,010 sq ft plot at Punggol Central/Edgedale Plains was awarded to Master Contract Services/Keong Hong Construction, while the larger 259,031 sq ft site at Punggol Drive/Edgedale Plains was awarded to Peak Square.

Source – PropGuru – 5 Aug 2013

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New housing policy for singles well-received: Khaw Boon Wan

Posted on 5 Aug 2013 | Comments Off on New housing policy for singles well-received: Khaw Boon Wan

National Development Minister Khaw Boon Wan said new ground has been broken with the Housing & Development Board’s (HDB) July’s Build-To-Order (BTO) exercise where eligible singles can buy new two-room HDB flats in non-mature estates.

In a blog post, Mr Khaw said the policy change was initially met with scepticism, with many predicting a lukewarm response.

Mr Khaw said HDB expects to receive more than 8,500 applicants from singles when the BTO exercise closes on Monday night.

That means more than 55 singles will compete for each two-room unit on offer for singles.

The minister said the median age of the singles who applied for the flats was about 43 years and their median monthly income was about S$1,800.

Mr Khaw remarked that the decision to focus on singles aged 35 years and above and up to S$5,000 income level was therefore appropriate.

The minister added that this new housing policy has not affected the first-timer families applying for two-room flats as their application rate is below one for now.

Mr Khaw said HDB will analyse the BTO data in greater detail to see how it can refine the next BTO exercises.

Source – CNA – 05 Aug 2013

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