11 bidders pursue Housing Development Board's (HDB) Design, Build and Sell Scheme (DBSS) at Clementi Ave 4

The 235,800 sqft site is within walking distance to Clementi MRT station and the Clementi Mall. Blocks on this plot can be built up to 45 storeys and 770 apartment units.

EL Development Pte Ltd bidded $224,000,000 or $271 per sq ft per plot ratio (psf ppr). According to the Straits Times, this is the highest-ever for a DBSS plot.

Nicholas Mak, SLP International head of research, estimates the break-even cost to be about $490 psf to $530 psf, with selling prices of $430,000 for three-room, $590,000 for four-room and $720,000 for five-room flats.

This pricing is on par with other headline-grabbing DBSS projects such as City View@Boon Keng and The Peak@Toa Payoh, where five-room flats were sold at around $720,000.

HDB introduced DBSS in 2005 to provide higher-end flats designed and built by private developers. It comes with better-quality fittings, like those found in condominiums. HDB will release four sites for tender under DBSS with a potential yield of about 2,700 flats in the first half of 2011.

About 2,300 Executive Condominiums (EC) will be developed with the release of four sites under the Government Land Sales (GLS) Programme, also in the first half of 2011.

The first six months of 2011 proves to be exciting for public housing flat buyers. They can look forward to about 11,000 new BTO flats. HDB has also planned to offer up to 22,000 new flats under Build To Order (BTO), if demand is sustained. Good geographical spread in towns/estates such as Bukit Panjang, Jurong West, Punggol, Sengkang and Sembawang are targeted for BTO.


Source: http://www.thegovmonitor.com/world_n...lds-47050.html
http://www.h88.com.sg/article/Clemen...+gets+11+bids/
http://www.straitstimes.com/Breaking...ry_643096.html
http://www.channelnewsasia.com/stori...115155/1/.html
http://business.asiaone.com/Business...08-267080.html
http://www.todayonline.com/Business/...-$224m-top-bid