Tag Archives: Developers

Leng Beng lays down marker with Chestnut bid

Posted on 26 Aug 2009 | Comments Off on Leng Beng lays down marker with Chestnut bid

Toppish price may send inadvertent signal to restart confirmed list sales

EVEN as the dust settles on Hong Leong Group’s top bid at last week’s tender for a 99-year condo site at Chestnut Avenue, a discussion in some circles now centres on whether Hong Leong overpaid for the site.

As expected, Housing & Development Board said yesterday evening it has awarded the site to Sunny Vista Developments (a subsidiary of City Developments) and Hong Realty.

The two companies are part of the Hong Leong Group and teamed up to place the top bid of $143.68 million, which works out to a much-higher-than-expected land cost of $280 psf per plot ratio (psf ppr).

Some rival developers believe Hong Leong’s breakeven cost may be around the $600 psf mark and its projected average selling price near the $700 Continue reading →

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Demand for mass market homes stable: Wing Tai

Posted on 26 Aug 2009 | Comments Off on Demand for mass market homes stable: Wing Tai
Wing Tai Holdings has sold at least 144 units at the Ascentia Sky development in Alexandra Road at $1,200 to $1,300 psf. — ST PHOTO: DESMOND WEE

SINGAPORE’S property market looks set for recovery, although the ride ahead is not likely to be smooth, according to the chairman of property developer Wing Tai Holdings.

Mr Cheng Wai Keung, speaking yesterday at Wing Tai’s full-year results briefing at Fairmont Singapore, said the mass market segment had probably stabilised and he was cautiously optimistic about the mid-end segment. Continue reading →

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Posted in Developers, New Launches, Property Market / Real Estate, Property Price

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