Tag Archives: Urban Redevelopmemt Board

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

Bukit Timah residents, authorities reach compromise

Residents of Dairy Farm, Chestnut and Petir Road have reached an initial compromise with authorities over the development of a parcel of forest land. A local group will also be formed to continue generating ideas to guide the area’s future developments.

The area’s Member of Parliament Dr Vivian Balakrishnan, as well as representatives from the Urban Redevelopment Authority and the Land Transport Authority, met some 200 residents at a dialogue session on Saturday, a culmination of four months of intense planning, consultation and meetings. The session lasted for two-and-a-half hours.

The issue for the gathering: The future plans for a 1.86-hectare of forest land between Dairy Farm Estate and Petir Road.

In March, the residents found out that the URA was going to put up the land for sale in June. Some questioned the need to develop an area that over the years had been reclaimed by nature.

One resident asked: “There are plenty of areas around Singapore that are abandoned industrial estates. Why do you have to start the development … (of) that particular plot of land that is fully forested now, instead of taking some of the wasteland that the development and progress has created today?”

Others spoke of the need to preserve Singapore’s natural areas as a legacy for future generations.

RESIDENTS’ SUGGESTIONS INCORPORATED

Beyond simply grousing, residents had presented authorities with a detailed proposal, highlighting what authorities should consider when putting up the land for sale.

Among them: Placing restrictions on the height of the development so as to not block the pristine views of the many low-rise housing; and reviewing a proposal to extend a road along Jalan Pakis that may cut into a popular canal and jogging trail.

URA’s deputy director of physical planning, Mr Lim Teck Leong, shared one proposal that was incorporated into the plans: “Storey-height control will be one of the requirements. We intend to cap the storey-height between five to 15 (storeys).”

Authorities added they would also shelve plans to extend the road along Jalan Pakis, for now.

The URA also said it would relocate the development of a commercial site from along Dairy Farm Road to Petir Road, after residents noted the development would cause heavy congestion.

Dr Balakrishnan said the consultation process was an example of “the way forward” where “plans are shared in advance, views are heard, constructive suggestions are made, and then incorporated into plans”.

Later, on his Facebook page last night, he posted: “We will form a local group to continue generating ideas to guide the developments in this precious area in the years ahead. Thank you all for your contributions.”

RESERVE PROTECTED

Dr Balakrishnan also explained that the forest area in question had been part of the Government’s development plans for decades. He added that authorities had made sure the plot did not encroach on reserve area.

“We make long-term plans, and in Singapore, the PAP’s long-term plans are for 50 to 100 years. For decades, we have already convinced ourselves that we would preserve nature reserves. We said we will confine our future development to areas outside the nature reserve,” said Dr Balakrishnan.

Still, he assured residents that their views will be heard, and commended them for coming up with solutions. “People were not just posturing. People were actively looking for solutions, for improvements,” he said.

Resident Kevin Kho agreed, saying: “This consultative approach, this engagement from the ground is the way forward. We want to be part of our own nation-building.”

Dr Balakrishnan said there will be continued engagement with residents.

Source : CNA – 2012 Jun 10