Tag Archives: CDL

Tender for Buangkok Drive residential site attracts 5 bids

Posted on 12 Jun 2012 | Comments Off on Tender for Buangkok Drive residential site attracts 5 bids

The tender for a residential site at Buangkok Drive/Sengkang Central has attracted five bids.

According to the Urban Redevelopment Authority (URA), White Haven Properties placed the top bid of S$301 million for the 99-year leasehold site.

White Haven Properties is a unit of Singapore-listed City Developments (CDL).

In a statement, CDL said it plans to build a residential development of about 16 storeys if the company is successful with the tender.

CDL added that it is familiar with the vicinity. It is developing the 521-unit H2O Residences at Sengkang, of which 86 per cent of the 450 units released have been sold.

The other four bids lodged range from S$226 million to S$290 million.

The site spans about 18,340 square metres with a maximum gross floor area of 55,023 square metres.

It is estimated that the developer will be able to build some 580 dwelling units on the site.

Property consultancy CBRE said the top bid of S$301 million works out to a breakeven cost of between S$900 and S$950 per square foot.

And it added that the new development is expected to be priced at an average of around S$1,040 per square foot, similar to the average price of units at a nearby project, The Luxurie.

Meanwhile, DWG Research attributed the strong bids for the site to its attractive location near Buangkok MRT station and the mature Hougang town where there are plenty of amenities.

Commenting on the tender, Colliers International said HDB residents whose flats recently turned five years might consider upgrading to units in this new development, given the strong HDB resale prices in the vicinity.

Colliers added that the median resale prices of five-room and executive apartments in Sengkang were S$512,600 and S$600,000 respectively in Q1 2012. Resale prices of five-room flats were S$523,500 in the nearby Punggol.

URA said a decision on the award of the tender will be made after the bids have been evaluated.

Source : CNA – 2012 Jun 12

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Terrace housing development gets BCA Green Mark Platinum award

Posted on 22 May 2012 | Comments Off on Terrace housing development gets BCA Green Mark Platinum award

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A terrace housing development in Serangoon Gardens has become the first landed residential estate to achieve the Building and Construction Authority’s (BCA’s) top-tier Green Mark Platinum award.

HAUS@SERANGOON GARDEN, which comprises 96 landed terrace houses located at Serangoon Garden Way, is developed by City Developments Limited (CDL) and is slated for launch in the middle of the year.

The development uses both passive and active green building approaches to ensure that a comprehensive sustainable design is incorporated from the beginning.

Each house is equipped with state-of-the art green technology for energy and water efficiency.

It is the first landed housing development in Singapore to have a one kilowatt-peak photovoltaic (PV) system.

The solar power generated by the PV system helps to offset the grid electricity consumption by the refrigerator and reduces utility bills.

Rainwater will also be collected for gardening use.

The project also features an innovative air-conditioner heat recovery system, in which waste heat generated by the air-conditioner is used to provide house owners with hot water in the bathrooms.

Approximately four per cent of the total construction cost was invested into the development of the estate’s green innovations, which is expected to result in up to 40 per cent energy savings for each house.

Mr Kwek Leng Joo, managing director of CDL, said, “HAUS@SERANGOON GARDEN is a landmark residential development for us as we are able to deliver significant measurable and direct cost benefits to individual homebuyers over a long-term period.

“Through the extensive “greening” of each and every house within HAUS@SERANGOON GARDEN, we seek to create an integrated community of green homes that will inspire greater eco-consciousness across the larger Serangoon Garden residential enclave.”

Commenting on HAUS@SERANGOON GARDEN, Dr John Keung, CEO of BCA said, “This is a first time we have awarded the Green Mark Platinum rating to a landed housing estate in Singapore.”

“We are indeed encouraged to see developers like CDL and Hong Realty making the effort to bring environmentally sustainable designs to not only high-rise buildings but individual landed homes.”

“This project would serve as a good prototype for green landed housing in future and even for reference by existing homeowners who are looking to retrofit and improve the energy efficiency of their landed homes,” he added.

Source : CNA – 2012 May 22

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Posted in Developers, Landed Property

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