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25-10-10, 20:53
ChoiceHomes-CEL Devt JV wins tender for Pasir Ris EC site (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1089241/1/.html)
Posted: 25 October 2010 1756 hrs
SINGAPORE : The Housing and Development Board (HDB) has awarded the land parcel at Pasir Ris Drive/Elias Road to joint bidders ChoiceHomes Investments and CEL Developments for S$89.89 million.
They had submitted the highest of the six bids received at the close of the tender on October 21.
The land parcel, which is for Executive Condominium (EC) housing development, has a site area of over 15,100 square metres and a maximum allowable gross floor area of nearly 31,800 square metres.
The site was launched for public tender on September 8 and has a lease period of 99 years.
The project, which can have an estimated 320 dwelling units, has to be completed 48 months from the date of acceptance of the tender.
The S$89.89 million bid reflects S$263 per square foot (psf) per plot ratio and translates to a breakeven cost of S$560 psf to S$600 psf.
- CNA/al
Posted: 25 October 2010 1756 hrs
SINGAPORE : The Housing and Development Board (HDB) has awarded the land parcel at Pasir Ris Drive/Elias Road to joint bidders ChoiceHomes Investments and CEL Developments for S$89.89 million.
They had submitted the highest of the six bids received at the close of the tender on October 21.
The land parcel, which is for Executive Condominium (EC) housing development, has a site area of over 15,100 square metres and a maximum allowable gross floor area of nearly 31,800 square metres.
The site was launched for public tender on September 8 and has a lease period of 99 years.
The project, which can have an estimated 320 dwelling units, has to be completed 48 months from the date of acceptance of the tender.
The S$89.89 million bid reflects S$263 per square foot (psf) per plot ratio and translates to a breakeven cost of S$560 psf to S$600 psf.
- CNA/al