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Thread: Dakota Residences (D14, 99 year Leasehold, Ho Bee & NTUC Choice Homes)

  1. #1
    ggd Guest

    Default Dakota Residences (D14, 99 year Leasehold, Ho Bee & NTUC Choice Homes)

    Any comment on this development. Heard that launch price will be <$1000, 99yrs, but very near MRT


  2. #2
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    Quote Originally Posted by ggd
    Any comment on this development. Heard that launch price will be <$1000, 99yrs, but very near MRT

    I heard from the news but not familiar with the East side... where is Dakota Cresent?

  3. #3
    Unregistered99 Guest

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    went to view it yesterday. prices are about 980psf. near the future dakota MRT.

    99 years, but u will be paying for the location.

    1 thing that i do not like is the vast amt of space allocated to balconies.

  4. #4
    Darius Guest

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    I think Dakota Residence has potential. The proximity to CBD plus MRT are the biggest selling points. May just consider.......



    New URA Masterplan: Kallang, Paya Lebar The New Stars

    Source : The Straits Times, May 24, 2008

    Over 10 years they will become lifestyle and commercial hubs

    GOOD news, Kallang and Paya Lebar: It is your turn to shine.
    The two sleepy industrial estates have been identified as Singapore's next big urban hotspots, as the nation's land planners draw up blueprints for the next 15 years.

    Now colourless and underdeveloped, these towns will burst into full bloom over the next decade. Paya Lebar will be transformed into a thriving commercial and civic centre, while Kallang will become a residential and lifestyle hub with homes and offices set among green parks and sandy beaches.

    'To make Singapore an endearing home, the Draft Master Plan will seek to retain places of identity and heritage.' (Above) an artist's impression of the beaches at Kallang Riverside. -- PHOTOS: URA

    They are the stars of the Urban Redevelopment Authority's (URA) highly anticipated Draft Master Plan, which was released by National Development Minister Mah Bow Tan yesterday.

    The Master Plan, which guides Singapore's land use over the next 10 to 15 years, is revised every five years to provide more housing and leisure options and ensure that sufficient space is set aside to support a growing population.

    The plan also continues a sustained effort to decentralise and reduce congestion in the Central Business District by building offices all across the island, bringing jobs closer to homes.

    Some of the plan's highlights, such as the new Jurong Lake District and the new MRT lines, have already been revealed.

    Other plans were more fully fleshed out yesterday, such as the expansion of the city's commercial centre, which will double in size to include Marina Bay and Tanjong Pagar, as well as the Beach Road/Ophir-Rochor corridor.

    The Government also announced that it has earmarked enough land for 328,200 new homes around the island. More than a third will be in the central region bordered by Bishan, Sentosa, Marine Parade and Queenstown.

    'We have seen significant transformation of our city over the past 10 years,' said Mr Mah yesterday.

    'The next 10 years can be just as exciting, if not more. Despite the current economic uncertainties, I am optimistic that we can grow from strength to strength.'

    Property players were impressed by the new Master Plan, saying it proves Singapore can remain a sustainable global city and a promising investment destination.

    Equally importantly, there is 'a piece of action for every developer, no matter what kind of homes or offices or hotels they build', said Mr Simon Cheong, chief of developer SC Global and president of the Real Estate Developers' Association of Singapore.
    Published May 24, 2008

    Live, Work, Play at a neighbourhood near you

    With Draft Master Plan, ambitious concept is taken further afield to Kallang and Paya Lebar

    By ARTHUR SIM


    (SINGAPORE) The Urban and Redevelopment Authority's (URA) Live, Work and Play mantra has been so successful in the Downtown Core precinct - as evidenced by the rapid development of offices, condos, hotels and leisure hotspots - that plans are now underway to export the concept to outlying districts in earnest.

    The URA has already rolled out ambitious plans to transform Jurong East into a bustling sub-metropolitan hub of parks, offices, hotels, edutainment centres and homes.

    Now, with the launch of the Draft Master Plan 2008 yesterday, it has included similar blueprints for Kallang and Paya Lebar as well.

    The three new hubs - Jurong Lake District, Kallang Riverside, and Paya Lebar Central - all have one objective in common, and that is to balance the elements of Live, Work and Play.

    Speaking at the launch of the Draft Master Plan 2008 exhibition at URA Centre yesterday, Minister for National Development Mah Bow Tan highlighted three key objectives of the latest Master Plan. Of these, it was the need to 'enhance accessibility and reduce commuting by bringing jobs closer to home' that underscores the need for the three new hubs. Not surprisingly then, Mr Mah added that public transportation has been 'prioritised'.

    The other two objectives are to 'ensure that we have enough land to support economic opportunity', and to 'provide quality housing and leisure options for our people'.

    Currently, the three areas have the potential to be sub-metropolitan hubs as they are, or will be, transportation nodes with the completion of existing and future rail, bus and road networks.

    However, looking at each area reveals that at least one of the three important ingredients of Live, Work and Play is missing.

    In the current Jurong East, for instance, there lacks a central office zone even though it has a relatively large population catchment area. As such, URA has designated 500,000 square metres of office space, 250,000 sq m of retail and entertainment space, 2,800 hotel rooms, but just 1,000 units of new homes for Jurong Lake District.

    Also bringing jobs closer to home is Paya Lebar Central, which is in the centre of another large population catchment area.

    Here, URA is planning for 294,000 sq m of office space, 200,000 sq m of hotel and retail space, but no new housing.

    Kallang Riverside, which is on the fringe of the city is, however, relatively under-populated and will have space for 4,000 new waterfront homes and 3,000 hotel rooms. Being a much larger area and close to the new Sports Hub, it will also have 300,000 sq m of office space and 300,000 sq m of hotel, retail and entertainment spaces.

    So, will it work?

    City Developments Ltd (CDL), which helped kick-start Marina Bay with The Sail, had initially planned the project as being half-commercial. Even then, many market watchers thought that only a complete office would work. Going against conventional wisdom of the time, it was eventually designed as two residential towers in 2003.

    Looking back, CDL managing director Kwek Leng Joo, says: 'Ultimately, we strongly believed that developing the very first residential development in the vicinity - a truly iconic one for that matter, would be most synergistic and truly reflect the 'Live' component of URA's vision.'

    That Marina South remains largely untouched in the Draft Master Plan 2008 suggests that there is more emphasis on decentralisation compared to the previous Master Plan which emphasised the Downtown Core.

    Knight Frank managing director Tan Tiong Cheng said: 'With the new Master Plan, there is a drive to develop areas with potential that have not been previously emphasised.

    'Marina South will be quite easy to roll out because it sits on vacant state land. And when sites are available, they should sell quite fast.'

    URA's decentralisation strategy was first adopted in 1991, with the Concept Plan that maps out the long-term 40-50-year vision.

    The Master Plan, which translates the Concept Plan strategies into detailed statutory land use plans to guide development over periods of 10-15 years, is reviewed every five years and may have different priorities.

    The Master Plan 2008 also goes some way in addressing the widening gap between high-end and mass market homes.

    Jones Lang LaSalle's head of research (South-east Asia), Chua Yang Liang, said: 'The strategy is really a bi-polar one.'

    He explained that the Master Plan has to deal with planning issues that involve communities revolving around manufacturing in the north, and wealthier communities who are choosing to move downtown, especially to waterfront homes in the south. And recently, the disparity between high-end waterfront homes at Sentosa Cove and those in the heartlands has widened.

    As such, Dr Chua notes that much of the new housing that has been highlighted in the outer regions all face the water.

    'This emphasis on providing more waterfront homes would greatly enhance social equity by making such homes more affordable to the regular guy on the street and not limited to just the affluent,' he added.

    If water is the new social glue, then the Rail Transit System (RTS) is its life blood.

    Industry players are perhaps a little disappointed that not much has been done by way of increasing plot ratios, a move that usually adds zest to the property market.

    But Savills Singapore director (marketing and development) Ku Swee Yong notes that property values, and possibly even plot ratios, tend to rise around new MRT stations.

    And with the RTS already reported to be doubled from 138 km today to 278 km by 2020, with an addition of over 40 new stations, Mr Ku is hopeful that the next Master Plan review could see more plot ratio goodies. 'I think URA might just be waiting for the new infrastructure to be completed,' he added.

  5. #5
    Unregistered123 Guest

    Talking

    Just back form the Show flat. Check with the agent, the over sales is good; about 90+ units sold already. 18th floor is about $1,080 psf net.

  6. #6
    Lily Guest

    Default

    Wow, that is a very good response. The 2nd phase will be riced higher? Does anyone know whether the developer increase its prices from yesterday?

  7. #7
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    Quote Originally Posted by Unregistered99
    went to view it yesterday. prices are about 980psf. near the future dakota MRT.

    99 years, but u will be paying for the location.

    1 thing that i do not like is the vast amt of space allocated to balconies.


    The point you made about balconies is really bugging me!

    I think nowadays developers are making a lot of money from these balconies, planter spaces, bay windows, rooftop terraces, etc... apparently what i heard is that they are not charged some development charges or something by the govt, so its pure profit whatever psf extra in those places, that they sell to us.
    Someone correct me if I am wrong because I hear all these from agents, so not quite sure...but the fact is, these days you find bigger and bigger balconies, planters, etc in the newer projects... and smaller and smaller living areas and bedrooms, despite the sft remaining 'big' - but it's actually in all these balconies, planters, bay windows, ledges, etc!

    I just wish we could get some MPs to look into this, maybe change the rule - sft should be liveable area and not balconies, planters, bay windows, roof terraces..., bloody rip-off!!!

  8. #8
    registered Guest

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    Hi can anyone pls post the floor plans ?

  9. #9
    Des Guest

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    I agree, looks a bit underpriced, should be >SGD1,000 psf given the proximity to CBD. Further down the road, at Meyer (ok, a better address), >SGD1,500 psf.

    http://www.dakotaresidences.com.sg/

  10. #10
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    limited facilities, don even hv tennis court for this size of development...

  11. #11
    UnregisteredMe Guest

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    No tennis court to accommodate the lap pool???! Anyone knows when 2nd phase will be released? Dakota mrt is 1 stop away from paya lebar interchange mrt.... convenient. Not a bad project i feel. sports hub is a retail cum entertainment centre. plus points. pricing, i feel, not too bad.

  12. #12
    Moo Guest

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    I was reading the forum, 99-year Silversea is hoping to launch at 1,700psf?? Yes, unblocked seaview, I rather get unblocked river view for SGD950psf and with mrt. trust far east to be so garang.

  13. #13
    Unregistered0030 Guest

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    The new condos now always shortchange and no tennis court. So wanna play tennis gotta go to the older condos

    Anyway, take what the agent say with a pinch of salt.Sometimes they say many units sold to get you excited but may not be true. But if people are snapping up the units like hot cakes, then it is good news for the property market. I don't really like the location though. But I notice the "property crash" type of post is on the decline. Looks like many have accepted that the market may not collapse 40-50%, despite many the banks/SPH coming together to present a doomsday view.

    Quote Originally Posted by kal
    limited facilities, don even hv tennis court for this size of development...

  14. #14
    Unregistered 101 Guest

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    Quote Originally Posted by Des
    I agree, looks a bit underpriced, should be >SGD1,000 psf given the proximity to CBD. Further down the road, at Meyer (ok, a better address), >SGD1,500 psf.

    http://www.dakotaresidences.com.sg/
    Was in the show flat this afternoon.. seems all avail 3 bed room are sold!!!
    need to wait for 2nd phase. dun think they will hold their price base on the strong demand.

  15. #15
    mr funny is offline Any complaints please PM me
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    http://www.businesstimes.com.sg/sub/...84680,00.html?

    Published June 23, 2008

    Sales of Dakota Residences encouraging

    By KALPANA RASHIWALA


    A CLOSELY watched property market preview has yielded encouraging results amidst the current subdued market conditions.


    Good location: Buyers like the project's proximity to Dakota MRT Station and the popular Old Airport Road Food Centre

    Ho Bee Investment and NTUC Choice Homes have sold 80 units at Dakota Residences over the weekend. The developers have so far released 122 units in the 348-unit project at an average price of $970 per square foot - lower than the $1,000 to $1,100 psf Ho Bee had indicated in June 2007 when the developers emerged as the top bidders for the 99-year leasehold site.

    No deferred payment is available for the 19-storey condominium project, which will front Geylang River.

    Buyers are predominantly Singaporeans, many with private home addresses. 'The majority of them live in the East Coast area, some even in landed homes. We have quite a number of professionals among the buyers,' said Ho Bee executive director Ong Chong Hua.

    'It shows that if you price your project right, there are still buyers. There's quite a bit of pent-up demand. Also buyers like the project's proximity to Dakota MRT Station and the popular Old Airport Road Food Centre. The location is also very close to the popular East Coast area,' he added.

    The plans for the Sports Hub and and Kallang Riverside area have also helped to stir interest in the project, Mr Ong reckons.

    The project comprises a mix of two, three and four-bedroom apartments and penthouses. Both penthouses in the stack of 122 units released so far have been sold - a 3,700 sq ft unit went for $3.37 million and the other, a 2,605 sq ft unit, fetched $2.62 million. A typical three-bedroom apartment of about 1,300 sq ft in the development costs about $1.3 million on average.

    Ho Bee and NTUC Choice Homes paid $524 psf per plot ratio at a state tender last year for the Dakota Residences site, which attracted a whopping 15 bids.

    Asked if the developers will consider raising Dakota Residences' selling prices, Mr Ong said: 'We'll review it but any price adjustment will be moderate. Sentiment is still fragile. If you're too aggressive in raising prices, you run the risk of stalling the sales momentum.'

    Urban Redevelopment Authority data released last week showed developers sold 441 new private homes in May, up from 284 units in April.

  16. #16
    Happy Feet Guest

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    Quote Originally Posted by mr funny
    http://www.businesstimes.com.sg/sub/...84680,00.html?

    Published June 23, 2008

    Sales of Dakota Residences encouraging

    By KALPANA RASHIWALA


    A CLOSELY watched property market preview has yielded encouraging results amidst the current subdued market conditions.

    ....................

    Urban Redevelopment Authority data released last week showed developers sold 441 new private homes in May, up from 284 units in April.
    Like that, swee liao lor!

  17. #17
    Eagle Guest

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    CityLights is > $1000 psf, I would rather buy this.

  18. #18
    Dream Guest

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    Quote Originally Posted by Happy Feet
    Like that, swee liao lor!
    Why? You have bought a unit already?

  19. #19
    Darius Guest

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    Let's see how much second phase will be at.... thinking $1000 - $1100 shd be achievable. Actually, the stuff they use ie the sanitary stuff like very good quality.

  20. #20
    Unregistered101 Guest

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    Quote Originally Posted by Dream
    Why? You have bought a unit already?
    Or he mean he missed it.. HAHA

  21. #21
    Unregistered0000 Guest

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    Looks like there is real demand when the price is right, i.e. <1000psf in D15. So developers just drop price slightly and sell like hot cakes..... anyway, I heard this one developer not making money, breakeven only. Poor thing.

    Quote Originally Posted by Darius
    Let's see how much second phase will be at.... thinking $1000 - $1100 shd be achievable. Actually, the stuff they use ie the sanitary stuff like very good quality.

  22. #22
    JR Guest

    Default

    Quote Originally Posted by TKT
    The point you made about balconies is really bugging me!

    I think nowadays developers are making a lot of money from these balconies, planter spaces, bay windows, rooftop terraces, etc... apparently what i heard is that they are not charged some development charges or something by the govt, so its pure profit whatever psf extra in those places, that they sell to us.
    Someone correct me if I am wrong because I hear all these from agents, so not quite sure...but the fact is, these days you find bigger and bigger balconies, planters, etc in the newer projects... and smaller and smaller living areas and bedrooms, despite the sft remaining 'big' - but it's actually in all these balconies, planters, bay windows, ledges, etc!

    I just wish we could get some MPs to look into this, maybe change the rule - sft should be liveable area and not balconies, planters, bay windows, roof terraces..., bloody rip-off!!!
    I totally agree, simply a waste of money buying huge balcony, I think in future i might have to ask what is the size of the balcony to factor in the discount required for actual livable space.

    No tennis court for a condo like this, what a pity...

    Btw, this is a D14 project, same district as Geylang nearby. LH 99yrs, surrounded by HDB, and those units facing the sch will get to enjoy marikita every morning....Not sure what is the potential upside in px appreciation in future...

  23. #23
    Unregistered1234556 Guest

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    I still can't understand why Singaporeans are so hard up on buying new developments and from showflats. The resale ones are good value as well, many of which truly have full facilities including tennis court, entertainment rooms and lots of underground parking lots. Also, the high construction costs would mean developers might cut corners to make money. Showflat nice doesn't mean the actual thing will be nice.

    I think Singaporeans just follow the herd. Now Kallang is supposed to be the next big thing, so people just buy. Not forgetting it face Geylang river and waterfront living is wat garmen want to promote. No one actually cares about the "complicated" and not-so-nice environment. Garmen say this area huat sure huat one. Anyway, most of the buyers are locals staying in the east apparently. Few buyers from other areas or foreigners. Also, near MRT, so non-drivers will be attracted to this as well.

    Quote Originally Posted by JR
    I totally agree, simply a waste of money buying huge balcony, I think in future i might have to ask what is the size of the balcony to factor in the discount required for actual livable space.

    No tennis court for a condo like this, what a pity...

    Btw, this is a D14 project, same district as Geylang nearby. LH 99yrs, surrounded by HDB, and those units facing the sch will get to enjoy marikita every morning....Not sure what is the potential upside in px appreciation in future...

  24. #24
    nregistered Guest

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    Geylang river ?? it looks more like a huge drain than a river !!!

  25. #25
    ggd Guest

    Thumbs up

    Bras Basah > Esplanade > Promenade > Nicoll HW >
    Stadium > Mountbatten > Dakota > Paya Lebar
    Dakota is one of the condo that link to the southern
    circle line, it can attract working class in Suntec,
    also in Shenton way. Convenient yet don't have to
    pay the sky high rental price like SAIL, ICON, etc...
    ERP/CBD/parking charges will make it very costly to
    drive to work, so near MRT line make it very convenient. On top of that you have all the good food at the old airport road to take care of your dinner when you get back from work !

  26. #26
    MND Guest

    Default

    Quote Originally Posted by Unregistered0000
    Looks like there is real demand when the price is right, i.e. <1000psf in D15. So developers just drop price slightly and sell like hot cakes..... anyway, I heard this one developer not making money, breakeven only. Poor thing.
    URA already gave a statement few days ago that Singapore will not have over supply in residential ppty. That's why govt always prepare a reserve list, even during this slowing period, to anticipate an explosive demand once the market sentiment turn around with thousand of pent-up demand (kiasu buyer) on the sideline like you.

    The market situation right now is very clear. The demand side is massive but still clouded with negative sentiment, while the supply side is actually the real concern for the govt, because they know that with the skyhigh construction cost it might derail the developer ability to complete the project as scheduled. In fact, many developers hv delayed their launching due to thin margin. So, for them the business risk now is very high to the extent that might force them out from business altogether. Once that happen, a serious severe property crunch will be inevitably. Ask yourself now with this fact and detail, where will our ppty market heading in time to come?

  27. #27
    GEORGE SORROS Guest

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    A SEVERE PROPERTY CRUNCH WILL HIT SINGAPORE SOON IF LOCAL PPTY PRICES REMAIN STAGNANT

  28. #28
    Republic Two Guest

    Default

    Quote Originally Posted by MND
    URA already gave a statement few days ago that Singapore will not have over supply in residential ppty. That's why govt always prepare a reserve list, even during this slowing period, to anticipate an explosive demand once the market sentiment turn around with thousand of pent-up demand (kiasu buyer) on the sideline like you.

    The market situation right now is very clear. The demand side is massive but still clouded with negative sentiment, while the supply side is actually the real concern for the govt, because they know that with the skyhigh construction cost it might derail the developer ability to complete the project as scheduled. In fact, many developers hv delayed their launching due to thin margin. So, for them the business risk now is very high to the extent that might force them out from business altogether. Once that happen, a serious severe property crunch will be inevitably. Ask yourself now with this fact and detail, where will our ppty market heading in time to come?
    The potential demand is 2 mio additional population vs the potential supply of less than 40,000 in 5 years time. Of course, there is a severe imbalance. Once the truth is revealed the whole nation is going to be damn nervous.

  29. #29
    MsDakota Guest

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    Quote Originally Posted by ggd
    Bras Basah > Esplanade > Promenade > Nicoll HW >
    Stadium > Mountbatten > Dakota > Paya Lebar
    Dakota is one of the condo that link to the southern
    circle line, it can attract working class in Suntec,
    also in Shenton way. Convenient yet don't have to
    pay the sky high rental price like SAIL, ICON, etc...
    ERP/CBD/parking charges will make it very costly to
    drive to work, so near MRT line make it very convenient. On top of that you have all the good food at the old airport road to take care of your dinner when you get back from work !
    I totally agree. The best you can get to be near city but without having to pay the price of Icon, another 99 year project near MRT, so what if got balcony or school? Icon got temple. Actually, with hdb amenities, better still. Someone said, mis-priced? I also agree.

  30. #30
    Dakota1 Guest

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    No offence. I think it's a bit far fetched to compare this Dakota to Icon or the Sail. You know in Singapore, even station 1 MRT away can make huge price difference. It's a 99-yr LH project in D14 - I'm not too convinced with the upside but if you like the environment and HDB surroundings and amenities, then go for it. At the end of the day, it's your home, not just pure investment. Or perhaps can consider the HDB in the area, since both 99 years so not much diff with HDB - if location if what you're after.

    As for old airport road market - it's quite a put off becos it's overcrowded. Parking is #1 nightmare. I stay at Meyer and I don't even go there.

    Quote Originally Posted by MsDakota
    I totally agree. The best you can get to be near city but without having to pay the price of Icon, another 99 year project near MRT, so what if got balcony or school? Icon got temple. Actually, with hdb amenities, better still. Someone said, mis-priced? I also agree.

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