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Thread: Aspial buys another residential site

  1. #1
    mr funny is offline Any complaints please PM me
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    Default Aspial buys another residential site

    http://www.businesstimes.com.sg/sub/...56934,00.html?

    Published October 30, 2009

    Aspial buys another residential site


    ASPIAL Corporation said yesterday that it has agreed to buy a property at 26C Lorong Marzuki for $2.5 million.

    The freehold site has an area of 281.1 square metres and is zoned for residential use with a 1.4 plot ratio.

    Aspial previously bought two properties at 29 and 31 Lorong Melayu for $5.6 million in all.

    Based on the combined maximum permissible area of around 1,795 sq m, the average purchase price for the three properties works out to about $459 per sq ft per plot ratio, inclusive of development charges.

    Aspial intends to amalgamate the three plots to develop a 40-unit residential project.

    The cost of the latest acquisition and development will be funded internally and through bank borrowings, Aspial said.

    The transaction is not expected to have a material impact on the earnings or net tangible assets of the company in FY2009.

  2. #2
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    Quote Originally Posted by mr funny
    http://www.businesstimes.com.sg/sub/...56934,00.html?

    Published October 30, 2009

    Aspial buys another residential site


    ASPIAL Corporation said yesterday that it has agreed to buy a property at 26C Lorong Marzuki for $2.5 million.

    The freehold site has an area of 281.1 square metres and is zoned for residential use with a 1.4 plot ratio.

    Aspial previously bought two properties at 29 and 31 Lorong Melayu for $5.6 million in all.

    Based on the combined maximum permissible area of around 1,795 sq m, the average purchase price for the three properties works out to about $459 per sq ft per plot ratio, inclusive of development charges.

    Aspial intends to amalgamate the three plots to develop a 40-unit residential project.

    The cost of the latest acquisition and development will be funded internally and through bank borrowings, Aspial said.

    The transaction is not expected to have a material impact on the earnings or net tangible assets of the company in FY2009.



    how to build 40 units with total permissible area of 1795 sqm = 19314sqft.

    each unit will have an average of 483sqft. another crazy mickey mouse development.

  3. #3
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    Apr 2008
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    Default

    Quote Originally Posted by jsh
    how to build 40 units with total permissible area of 1795 sqm = 19314sqft.

    each unit will have an average of 483sqft. another crazy mickey mouse development.

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