Simei site for condo-style flats released

April 7, 2008

Simei site for condo-style flats released

By Jessica Cheam


MORE condo-style Housing Board (HDB) flats will soon be offered to home buyers looking to live in Singapore's east side.

The HDB on Monday released a plum 181,108 sq ft site in Simei Road for tender - the fifth under its Design, Build and Sell Scheme (DBSS), which is open to private developers.

The 99-year site has a gross floor area of about 380,327 sq ft - enough for 360 homes.

Market watchers said developers will be keen on the plot due to its attractive location in a mature, established HDB estate just 10 minutes' walk from Simei MRT station.

Knight Frank director of research and consultancy Nicholas Mak said the site, which could have residential blocks going up to 15 storeys, was likely to attract bids from medium-size developers and construction companies.

Read the full story in Tuesday's edition of The Straits Times.

HDB to sell Simei site under Design, Build and Sell Scheme

By Lynda Hong, Channel NewsAsia | Posted: 07 April 2008 1947 hrs


SINGAPORE: The Housing Development Board (HDB) has launched the sale of a new site in Simei under its Design, Build and Sell Scheme (DBSS).

Analysts said this plot of land near the Simei MRT station should attract medium-size developers and construction companies to bid between S$49 million and S$76 million.

With an area of over 16,000 square metres, analysts estimated that 320 to 360 units can be built.

A higher portion of bigger flats are expected to be built at the site, and analysts said they anticipate a healthy demand from new families and HDB upgraders.

This is the fifth plot of land offered under the DBSS.

One attraction of the site is the presence of many schools nearby, including Griffiths Primary School, Anglican High School, Tampines Junior College and Temasek Polytechnic.

Those interested to develop the site have until 3 June to submit their tender.

Other recent developments under the DBSS include City View@Boon Keng, which costs S$520 per square foot on average. - CNA/ac

Published April 8, 2008

HDB launches fifth DBSS site at Simei

By EMILYN YAP


THE Housing and Development Board (HDB) has launched a fifth Design, Build and Sell Scheme (DBSS) site at Simei Road for sale.

According to Nicholas Mak, director of consultancy and research at Knight Frank, the site may fetch between $49 million and $76 million, or $130 to $200 per square foot per plot ratio (psf ppr), and is likely to attract bidders such as medium-sized developers and construction companies.

The Simei site is the first to be offered under the scheme this year and has a site area of 16,825.5 square metres, with an allowable gross floor area of 35,333.55 sq m.

Property consultants considered the site attractive as it is located in a mature estate with comprehensive facilities. The site is a short walk from Simei MRT station and East Point Mall, and is also close to schools such as Anglican High School.

Director of marketing and business development at Savills Singapore, Ku Swee Yong, noted: 'Demand should be strong with recent announcements by the MNCs and foreign banks that they are pushing backroom services into Changi's office and industrial parks.'

He estimated that the Simei site may fetch between $57 million and $60 million, or $150 to $160 psf ppr.

On the supply side, Mr Mak pointed out: 'As there has not been any major launch for a mass-market residential project in the Simei and Tampines areas, flats in the DBSS development at Simei Road will be more appealing to purchasers.'

He expected the site to take about 320 to 360 units.

The tender will close on June 3 at noon.

Under the DBSS, private developers undertake the design, construction and sale of public housing. Flats sold under the scheme come with a 99-year lease and buyers have to meet HDB eligibility conditions similar to those set for HDB-developed flats.

HDB awarded the fourth DBSS site in Bishan to Qingdao Construction Group in February, which put in a bid of $135.9 million or $237 psf ppr.

HDB plans to launch another two DBSS sites in Toa Payoh and Bedok.

April 8, 2008

Simei site for condo-like HDB flats

By Jessica Cheam

http://www.straitstimes.com/STI/STIM...01_01_0001.jpg

MORE condo-style Housing Board flats will soon be offered to home buyers looking to live in Singapore's east side.

The HDB yesterday released a plum 181,108 sq ft site in Simei Road for tender - the fifth under its Design, Build and Sell Scheme (DBSS), which is open to private developers.

The 99-year site has a gross floor area of about 380,327 sq ft - enough for 360 homes.

Market watchers said developers will be keen on the plot due to its attractive location in a mature, established HDB estate just 10 minutes' walk from Simei MRT station.

Knight Frank director of research and consultancy Nicholas Mak said the site, which could have residential blocks going up to 15 storeys, was likely to attract bids from medium-size developers and construction companies. He projected offers ranging from $49 million to $76 million, or $130 to $200 per sq ft per plot ratio.

The new site tender comes after National Development Minister Mah Bow Tan said recently that HDB will cater to buyers with different aspirations by providing a range of housing options. But the minister also stressed that standard flats built by HDB will continue to be the main stock of new supply.

A further two DBSS sites - in Toa Payoh and Bedok - are expected to be released soon. These and the Simei site could mean up to 1,500 new public condo-like flats coming on to the market.

That figure is 4,000 if flats earmarked for the four sites already released - Tampines, Boon Keng, Ang Mo Kio and Bishan - are included.

Flats at City View @Boon Keng, comprising three- to five-room units, were offered at between $349,000 and $727,000 - about $520 psf. The Simei tender closes at noon on June 3.