Tag Archives: Woodlands

EC site in Woodlands attracts seven bids; top bid of $216m by Qingjian Realty

Posted on 10 May 2013 | Comments Off on EC site in Woodlands attracts seven bids; top bid of $216m by Qingjian Realty

An executive condominium (EC) site in Woodlands has attracted seven bids from developers, according to the Housing & Development Board (HDB).

The 99-year leasehold site at Woodlands Avenue 5/Woodlands Avenue 6 fetched a top bid of S$216 million from Qingjian Realty (South Pacific) Group.

That’s about 9 percent above the second highest bid of S$198 million tabled by Bellevue Properties, a wholly-owned subsidiary of City Development’s Verwood Holdings.

Analysts say the top bid of S$216 million works out to about S$341 per square foot per plot ratio (psf ppr).

And that is higher than previous bids for nearby sites at S$318 psf ppr and S$302 psf ppr last year

HDB says the site, which spans over 21,000 square metres, can potentially yield 590 residential units.

Desmond Sim, Associate Director of CBRE Research, said, “The relatively higher bid reflects developers’ renewed confidence in the area following the government’s announcement on Woodlands as Singapore’s new commercial hub in the land-use plan in January 2013… we expect interest in the next few EC plots this year to remain strong as there is a genuine need and demand for ECs. Developers are still positive about the EC market.”

ERA Realty Network expects selling price for units built on the site to start at $830 psf.

“This is the first EC land sale allocated after the new cooling measures were introduced. It can be seen that developers are still hungry for land sites to build up their land bank,” said Eugene Lim, key executive officer at ERA.

Cooling measures introduced in January this year will apply to this site.

Among them are restrictions on the maximum size of EC units and guidelines on private enclosed spaces or private roof terraces.

Under the new rules EC developers will also only be able to market their projects 15 months from the date of award of the sites.

Including this latest site, there are now four EC projects in Woodlands. The other three are La Casa, Forestville and Twin Fountains.

HDB says decision on the award of the tender will be announced at a later date.

Source CNA – 9 May 2013

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HDB launches 4191 new flats across 7 BTO projects

Posted on 2 Aug 2012 | Comments Off on HDB launches 4191 new flats across 7 BTO projects

As part of its plan to deliver 25,000 Build-to-Order (BTO) flats this year, the Housing and Development Board (HDB) has launched 4,191 new flats across seven housing estates.

The units will be spread across two non-mature towns – Choa Chu Kang and Punggol as well as the three mature estates of Bukit Merah, Geylang and Clementi.

Ranging from two- to five-bedroom units and studio apartments, the new batch of BTO projects are Keat Hong Axis, Punggol Opal, Waterway Cascadia, Clementi Gateway, Depot Heights, Telok Blangah Ridgeview, and GreenTops @ Sims Place.

Excluding studio apartments, at least 85 and 95 percent of the BTO supply in non-mature and mature towns respectively will be set aside for eligible first-time buyers who may use housing grants to improve their chances of owning a new flat.

Applications for the new BTOs will end on Monday, 6 August.

Meanwhile, HDB is expected to launch another 3,700 units in September which will be located in Ang Mo Kio, Choa Chu Kang, Kallang Whampoa, Tampines and Woodlands.

At the same time, 3,000 flats will be offered under the Sale of Balance Flats (SBF) exercise.

Source PropertyGuru – 2010 Aug 1

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