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Thread: ChoiceHomes-CEL Devt JV wins tender for Pasir Ris EC site

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    Default ChoiceHomes-CEL Devt JV wins tender for Pasir Ris EC site

    ChoiceHomes-CEL Devt JV wins tender for Pasir Ris EC site
    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
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

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    This one near MRT? Baseline like $550 psf minimum for break even. Developer sells at $650 psf and above?

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    Quote Originally Posted by kingkong1984
    This one near MRT? Baseline like $550 psf minimum for break even. Developer sells at $650 psf and above?

    profit margin smelly smelly 200-300 psf ..

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    Quote Originally Posted by proud owner
    profit margin smelly smelly 200-300 psf ..
    Ntuc choice homes won't have high margin. They are suppose to moderate ppty price.

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