mr funny
16-03-07, 14:03
Published March 16, 2007
IN THE HEARTLANDS
HDB offers design, build and sell site for tender
1.8-ha plot at Boon Keng, Bendemeer junction could fetch $87-95m
By UMA SHANKARI
THE Housing & Development Board yesterday said that it would launch a 1.8 hectare site at the junction of Boon Keng Road and Bendemeer Road for sale by tender today under the Design, Build and Sell Scheme (DBSS).
The site could fetch $87-95 million, or $120-130 per square foot per plot ratio, market watchers said.
'We expect a good response from mid-sized developers, or joint-ventures of contractors and developers,' said Li Hiaw Ho, executive director of CB Richard Ellis' research unit.
He pointed out that for the pilot site offered under DBSS, the Premiere At Tampines, 6,000 people applied for the 616 flats.
This site has a land area of 18,400 square metres and a maximum gross floor area of 67,600 square metres. Building height can range from 122 metres to 131 metres.
This means that a developer could build as many as 600 units and go as high as 40 storeys, said Nicholas Mak, Knight Frank's director of research and consultancy. The site is near Boon Keng MRT station.
In response to public feedback, HDB said that it would impose a new condition that 30 per cent of flats in this project must have a floor area of 95 square metres or less, which means they would be four-room flats or smaller.
Said HDB: 'The aim here is to promote social integration and provide more choices for those who wish to buy smaller DBSS flats.'
Property firm ERA said that four-room flats in the vicinity now go for $300,000-350,000, while five-room flats sell for $400,000-450,000. Most of the flats in the project could go for $350,000-500,000 by the time the project is launched, said ERA assistant vice-president Eugene Lim.
The DBSS scheme was launched in 2005 as part of the government's move to gradually open up the public housing building programme to the private sector. Market competition, it was hoped, would result in greater innovation in building and design, greater choice of flats, and better value for money for flat buyers.
Under the scheme, the chosen developer will undertake the entire public housing development process, from tendering of the land, to designing, building and selling the flats.
Like flats developed by HDB, unit sold under DBSS come with a 99-year lease and will be offered to buyers under the same HDB eligibility conditions.
The housing board said that the tender would close at noon on May 29.
IN THE HEARTLANDS
HDB offers design, build and sell site for tender
1.8-ha plot at Boon Keng, Bendemeer junction could fetch $87-95m
By UMA SHANKARI
THE Housing & Development Board yesterday said that it would launch a 1.8 hectare site at the junction of Boon Keng Road and Bendemeer Road for sale by tender today under the Design, Build and Sell Scheme (DBSS).
The site could fetch $87-95 million, or $120-130 per square foot per plot ratio, market watchers said.
'We expect a good response from mid-sized developers, or joint-ventures of contractors and developers,' said Li Hiaw Ho, executive director of CB Richard Ellis' research unit.
He pointed out that for the pilot site offered under DBSS, the Premiere At Tampines, 6,000 people applied for the 616 flats.
This site has a land area of 18,400 square metres and a maximum gross floor area of 67,600 square metres. Building height can range from 122 metres to 131 metres.
This means that a developer could build as many as 600 units and go as high as 40 storeys, said Nicholas Mak, Knight Frank's director of research and consultancy. The site is near Boon Keng MRT station.
In response to public feedback, HDB said that it would impose a new condition that 30 per cent of flats in this project must have a floor area of 95 square metres or less, which means they would be four-room flats or smaller.
Said HDB: 'The aim here is to promote social integration and provide more choices for those who wish to buy smaller DBSS flats.'
Property firm ERA said that four-room flats in the vicinity now go for $300,000-350,000, while five-room flats sell for $400,000-450,000. Most of the flats in the project could go for $350,000-500,000 by the time the project is launched, said ERA assistant vice-president Eugene Lim.
The DBSS scheme was launched in 2005 as part of the government's move to gradually open up the public housing building programme to the private sector. Market competition, it was hoped, would result in greater innovation in building and design, greater choice of flats, and better value for money for flat buyers.
Under the scheme, the chosen developer will undertake the entire public housing development process, from tendering of the land, to designing, building and selling the flats.
Like flats developed by HDB, unit sold under DBSS come with a 99-year lease and will be offered to buyers under the same HDB eligibility conditions.
The housing board said that the tender would close at noon on May 29.