Tag Archives: NTUC Choice Homes

Dakota Crescent site in high demand

Posted on 10 Sep 2009 | Comments Off on Dakota Crescent site in high demand

IN A further sign of relentless demand for residential properties, a land parcel at Dakota Crescent has drawn 13 bids and a higher-than-expected top bid of $329 million.

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The highest bid for the 99-year leasehold site next to the planned Dakota MRT station came from UOL, which offered $508 per sq ft of gross floor area. This was way above the trigger price of $130 million, or $201 psf of gross floor area for the reserve list site.

And it exceeds analysts’ expectations of between $350 and $370 psf of gross floor area for the site that fronts the Geylang River.

It approaches levels set around the peak of the market boom in June 2007 when Ho Bee Investment paid $524 psf per plot ratio for its Dakota Residences site. It launched its condo last year at an average price of about $970 psf.

Other developers keen to acquire the Dakota Crescent plot included Guoco-Land, Ho Bee which tied with NTUC Choice Homes, Sim Lian Land, Keppel Land, Allgreen Properties and Teambuild Properties. The lowest bid came from Lippo Estates. It was $160 million, or $247 psf of gross floor area.

Reserve list sites are put up for tender only if developers indicate an interest by committing to a minimum acceptable bid. Continue reading →

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Sales quieten down at Trevista, Trizon

Posted on 8 Sep 2009 | Comments Off on Sales quieten down at Trevista, Trizon

But developers gear up for new launches, such as Hundred Trees and Cyan

BUSINESS visibly quietened down at showflats last week but developers are already revving up for new launches and releases of new phases of existing projects after Hungry Ghosts Month ends on Sept 18.

However, some market watchers reckon developers may be more careful not to price their projects too aggressively following National Development Minister Mah Bow Tan’s second statement in five weeks that the government is monitoring the property market very closely and will take ‘certain actions’ if necessary.

City Developments is expected to preview Hundred Trees condo on the former Hong Leong Gardens site in the West Coast area in the last weekend of September. Earlier market talk was that the 396-unit project will have an average price of about $930-$980 per square foot (psf). However, some quarters suggest the project will be ‘priced competitively’. The 12-storey development has a 956-year-leasehold tenure. The Hundred Trees condo will be decked with Mempat trees, often dubbed the local version of Japan’s sakura or cherry blossoms.

At Keng Chin Road in the Bukit Timah area, Far East Organization is expected to preview in a few weeks a 278-unit freehold condo named Cyan. Continue reading →

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