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Thread: Tender for Yishun DBSS site launched

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    Default Tender for Yishun DBSS site launched

    http://www.businesstimes.com.sg/sub/...79146,00.html?

    Published March 31, 2010

    Tender for Yishun DBSS site launched

    By UMA SHANKARI


    THE Housing and Development Board (HDB) has launched a land parcel in Yishun for sale under its design, build and sell scheme (DBSS). Around 700 flats can be built on the site located at the junction of Yishun Avenue 11 and Yishun Central.

    Analysts estimate that the top bid could be in the region of $132-166 million, which translates to around $160-200 per square foot (psf) per plot ratio. They added that the site should draw healthy interest from developers. 'Developers, especially those with a construction arm, will be keen on the site,' said Ngee Ann Polytechnic real estate lecturer Nicholas Mak. 'If the flats there are priced sensibly, they will be well taken up.'

    The site will also be popular because it is in a mature housing estate, said PropNex chief executive Mohamed Ismail. He expects flats on the site to sell for around $400 psf eventually.

    Others have pricier estimates. Eugene Lim, associate director for ERA Asia-Pacific, said that a three- bedroom flat of around 1,100 sq ft on the site could sell for around $600,000, which works out to $545 psf.

    HDB also said that it will continue to monitor demand for public housing and release more sites for development under the design, build and sell scheme in coming months if there is demand.

    Under the scheme, the developer who wins a site will enjoy some flexibility in designing, pricing and selling the flats. But flats will still be sold only to buyers who meet HDB eligibility conditions.

    HDB has offered a total of 3,653 new flats under its build-to-order scheme in Q1 2010. Potential flat buyers can also look forward to another 1,200 flats in Punggol in April.

    These launches are part of HDB's plans to offer at least 12,000 new build-to-order flats this year - or even more if there is demand. The new projects will be spread across various locations such as Punggol, Sengkang, Yishun and Jurong West. The tender for the site in Yishun will close at noon on May 18.

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    http://www.straitstimes.com/Singapor...ry_508650.html

    Mar 31, 2010

    Yishun site for tender


    THE Housing Board (HDB) is launching a housing site at Yishun for tender today which will add another 700 homes to the housing stock.

    The site, at the junction of Yishun Avenue 11 and Yishun Central, is being launched under the HDB's design, build and sell scheme (DBSS).

    This allows private developers to design, build and sell the homes directly to flat buyers. Such flats come with finishes similar to private property but are subject to HDB rules.

    The site is a short distance away from the Yishun Town Centre, Yishun MRT station and bus interchange, and schools such as Huamin Primary School, North View Secondary School and Chung Cheng High School.

    The leasehold site has a gross floor area of about 828,000 sq ft which includes 10,700 sq ft of space for commercial facilities and childcare centre.

    This is the latest in a string of land sale tenders by the Government recently, which is moving to address concerns over the shortage of supply in the property market.

    HDB's latest site launch is in addition to its plan to offer at least 12,000 new build-to-order flats this year - or more if there is demand.

    New projects will be spread across towns such as Punggol, Sengkang, Yishun and Jurong West.

    HDB said yesterday it will continue to monitor the housing demand.

    More sites for DBSS development will be made available in the coming months if there is demand. The latest tender will close at noon on May 18.

    JESSICA CHEAM

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