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Thread: Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

  1. #1

    Default Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

    Big plot right in front of Tanah Merah MRT. Going to be launching at $600 psf. This was the plot that was quite high profile. Let me see if I can find the article.

  2. #2

    Default Re: Casa Mera (D16, 99 yr LH, Wing Tai/NTUC)

    Published March 14, 2006

    Tanah Merah site up for sale
    $130m bid triggers URA release of 2.2 hectare plot from reserve list


    THE Urban Redevelopment Authority (URA) yesterday launched the sale of a 2.19 hectare plot of residential land at Tanah Merah Kechil Avenue.

    This comes two weeks after a bid for it at $130 million triggered the site's release from the Reserve List under the Government Land Sales Programme for the first half of this year.

    The site was first made available for sale through the Reserve List system in April last year.

    Located near the Tanah Merah MRT Station, the site has a 99-year leasehold tenure. With a gross plot ratio of 2.8, the site comes with a maximum gross floor area of approximately 659,343 square feet.

    The URA said the winning developer could build an estimated 535 units on the site. There is a maximum height of between 49 and 52 metres above mean sea level.

    'The tender for the site at Tanah Merah Kechil Avenue will attract major developers who have the experience in developing large-scale mass market residential projects,' said CB Richard Ellis's executive director of investment properties, Soon Su Lin.

    'In 2005, there were no new launches of sizeable 99-year leasehold projects in the Bedok, Tampines and even Pasir Ris areas, priced at affordable levels and that cater largely to HDB upgraders or first-time home buyers. There should be some pent-up demand for affordable homes with access to MRT stations in the East of Singapore.'

    Going by the minimum price of $130 million, the site works out at about $212 psf per plot ratio. Property analysts had earlier predicted bids from $200 to $250 psf.

    The closing date for the site's tender is April 11, with the eventual winner based on the tendered land price only.

    "...Next up is another 99-year leasehold condominium in Tanah Merah, which will have 556 units. Choice Homes is developing the project through a joint venture with Wing Tai Holdings..."

    In April 2006, it acquired a large development site with NTUC Choice Homes in Tanah Merah and Mr Cheng says that this development, which will have around 500-units, will also be launched this year.

  3. #3

    Default Re: Casa Mera (D16, 99 yr LH, Wing Tai/NTUC)

    Quote Originally Posted by joe
    Big plot right in front of Tanah Merah MRT. Going to be launching at $600 psf. This was the plot that was quite high profile. Let me see if I can find the article.

    It's near Expo and University of New South Wales and SIA training centre. Heard eventually Tanah Merah MRT would be another link to Marine Parade if all bodes well.

  4. #4

    Default Re: Casa Mera (D16, 99 yr LH, Wing Tai/NTUC)

    Wah like that all the condos around there huat liao. Tanamera Crest, etc.

  5. #5
    Join Date
    Mar 2007

    Default Re: Casa Mera (D16, 99 yr LH, Wing Tai/NTUC)

    Would be good for expat rental. Believe it or not, many Western expats are living in the area. It has become more or less expat enclave.

  6. #6

    Default Re: Casa Mera (D16, 99 yr LH, Wing Tai/NTUC)

    Is this Casa Merah?

  7. #7
    Join Date
    Feb 2007

    Default NTUC Choice Homes looking to replenish land bank

    NTUC Choice Homes looking to replenish land bank

    By Daryl Loo, Channel NewsAsia | Posted: 12 April 2007 1909 hrs

    SINGAPORE: Property developer NTUC Choice Homes is looking to replenish its land bank to meet the anticipated growing demand for entry-level condominiums.

    The co-operative will exhaust all its available sites after the launch of the 556-unit Casa Merah project this weekend.

    Units at Casa Merah, which is located near the Tanah Merah MRT Station, will be made available to the public from this Saturday.

    They are priced at an average of S$588 per square foot

    Choice Homes said it is bullish about demand from the mass market.

    More than 80 percent of its Yew Tee Residences project have been snapped up since sales began about three months ago.

    Margaret Goh, CEO, NTUC Choice Homes, said: "The mass market has improved considerably and activity has picked up. This is largely due to the spill-over effect from luxury housing.

    "There is a wide price gap now, between luxury and mass market housing, and hence it is deemed as more affordable, and definitely more attractive as a property purchase decision."

    Choice Homes said it would now need to look at buying more land, either from the government or through collective sales as its land bank is empty.

    Ms Goh said: "Casa Merah will take us right up to the end of the year. It's a sizeable development with 556 units. At the same time, we are also looking at replenishing our landbank.

    "We will look out for government land sales as well as freehold collective sales sites in the market, that would answer the need of the upgrader and the mass market."

    The climb in private home prices in Singapore over the past year has been driven by the high-end luxury sector.

    But property analysts said there are signs of a catch-up by the mass market segment.

    Nicholas Mak, Consultancy & Research Director, Knight Frank, said: "For the whole of this year, we could see the mass market recovering gradually. The reason is that HDB resale prices, especially for larger flats such as four-room and five-room flats, are picking up.

    "Another reason is that the rate of family formation is also picking up. The number of marriages has actually increased from about 21,000 in 2004 to roughly above 23,000 in 2006. So with more families being formed, there will also be a larger base, a larger pool of demand for HDB flats as well as mass market condos."

    According to government estimates, home prices outside the Central Region where most mass market condos are located climbed 2.6 percent in the first quarter.

    - CNA/so

  8. #8

    Default Re: Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

    Private Preview tomorrow for NTUC Members from 12-8pm. If anyone is interested should try get the invitation note from friends/ relatives who's a member!

    I believe some agents had also distributed some leaflets to targeted public for specific agent led private previews last week. Wonder if that has already happened or would that be on the same day?

    2, 3, 3+1 & 4 bedroom units: From 947sft to 2196sft
    Stylish clean-lined facade set in lush private landscape environment with panoramic view of surroundings.
    Facilities: 50m free-form pool, jacuzzi, tennis courts, hot spa, bio-pond, children's pool, AV room, multi-purpose hall, etc
    Last edited by Precieux; 13-04-07 at 01:20.

  9. #9
    Join Date
    Jan 2007

    Default Re: Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

    Wow, $588 per sq foot. Very expensive compared to some freehold development in Upper Bukit Timah and West Coast.
    Last edited by Madeira; 13-04-07 at 15:58.

  10. #10

    Default Re: Casa Merah (D16, 99 yr LH, Wing Tai/NTUC)

    I was at the preview launch just now.... it's selling very fast.... long queue for booking....quite impressive. Given the fact that it's right in front of the Tanah Merah MRT, the price is reasonable.

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