Will The Largest Former HUDC Estate, Braddell View, Become A Part Of collective Sales?

There are several HUDC estates that are close to getting on board the proverbial bandwagon for collective sales. The largest in question is Braddell View which will take a great deal of capital investments to complete.

 

HUDC or Housing and Urban Development Company are housing properties that are unique to Singapore and cater to a class of people who can afford better housing vs the typical public housing. Here are some estates that are on the horizon of making changes:

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A popular nightspot in Jiak Kim Street is available for sale

A spot that used to attract high numbers of people that were looking for entertainment in the evening, Zouk is now a location that is up for sale for any developer that is interested in investing in the area. The glory days of this location on the Jiak Kim Street are over, as a new chapter waiting to be opened by the developer that is going to bid the biggest sum to get this particular spot. The tender is about to open soon, so everybody interested in this particular sale should prepare a strategy that will provide the desired results.

 

How did it all start? A few months ago a developer that was interested in Zouk’s location promised to bid at least $689.4 million to get it. Seeing that there is a significant interest in this particular location, it was considered suitable for a tender to take place. The site has a total area of 13,482 sq. meters, each sq. foot having a starting price of $1,250, considering the bid mentioned previously. Specialists think that the space provided by the former Zouk is more than enough for a residential project that foresees 36 stories, which means an approximate number of 525 apartments and a ground floor that could easily have a commercial purpose.

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Land supply raised

There would probably be more development sites which would be further available in order to meet the ultimate demand for lands from the developers who show keen reactions to capitalise on getting property market recovered. But analysts also go on to warn that the slight stick of supply for nearly about next five to six months may not be sufficient enough in order to satisfy these developers and specially for the ones who have been aggressively engaging in bids recently for the sites.

 

The Government land sales programme consists of around 16 sites for the second half of this year. These could be added up to about 8,125 privatised homes, which is up from 7,465 units which was released in the first 6 months of 2017.

 

There is a demand for even more residential plots to ensure that they possess an adequate or appropriate pipeline supply for new private housing projects in order to meet the demands and needs of the growing population in future. Whilst keeping this in mind, the demand for new private homes have risen in just no time. This new allocation is deemed as conservative which is stated by market watchers as it is felt that it is impossible to meet the demand of developers as well.

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Eunosville may make way for 1,399 new homes

The collection of sales made over here in the market is striving to steer ahead along with potential sales of private organisations for a sum of $765 million, estate Eunosville. This could be one of the 2nd highest price being imposed for a property like this.

 

Eunosville, which consists of 330 units, which is being built in the late 1980’s could expand to having around 1,399 units altogether with the new project proposal brought up.

 

Surprisingly the particular site has been given away or else been bought by a Jardine Matheson holding unit, land MCL at a ridiculous price which was not made to be expected at all.

 

This has been one of the 4th most successful sale within this year in spite working on to recover developer’s residential property optimism.

 

The highest achieved sale which stands in second place is Eunosville, which is situated nearby the MRT station of Eunos. After it was sold by Farrer Court for a sum of $1.34billion in the year 2007,   stated by Orangetee marketing agents. It Was Indeed the second try of the estates after the unsuccessful result of a bid in 2013.

 

More than 17 percent stands as the premium which the owners had insisted in having for $643 million towards $653 million.

 

Constant rise in market improvements are also seen in sales for primary homes, which makes developers to start creating strategic level acquisitions over land in order to create a position for them self towards a recovery in the current market.

 

Eight potential bidders were attracted towards competitive market bids over the area between Changi road and Sims Avenue. This was for the tender of 376,713 sq. Stated by Mr.Oh to the Straits Times.

 

In a whole with all inclusive of government extra charges being added, the cost accumulates to an amount of $909 per Square feet for a single plot. The state accepts these payables in order to intensify the use of land to a gross amount ratio of 2.8 along with adding up a lease to 99years freshly.

 

As mentioned before that this project was built in the late years of 1980’s, 71 years have been laid on as the lease. Towards six complete residential blocks and also four complete walk by apartment plots which includes 75 units.

 

OrangeTee stated that each and every owner will possess the right of getting about $2.25million to about $2.41million towards completing the deal which is subjected to a particular sales condition.

 

One of the resident named Mr Ben Ong, who has been a loyal resident of Eunosville for the last 17 years is in a very sentimental condition about leaving although he is aware and identifies that the old structure is now in need of renovation.

 

It is indeed a very sad situation said Mr. Ben Ong. As this is the place where they brought up their children and not forgetting to mention that, the location is so convenient for them as well. Therefore for the resident, he may want to purchase an apartment unit here after the new structure is put up in the near future.

 

CBRE consultancy office stated that the newly completed units will be put out for sale for an average sum of $1,700 to almost $1,750 per single square feet.

 

Check up below link for more info on this collective sales

http://www.straitstimes.com/singapore/housing/765m-en-bloc-sale-eunosville-may-make-way-for-1399-new-homes

 

 

 

New Launch Condo in Singapore that are near to MRT station

 

Upcoming new launch condos

HDB inaugurates 8,700 flats in May 2017 Build-to-Order flat offer

The Housing and Development Board (HDB) inaugurated a total of 8,748 new flats on Thursday, May 18, 2017. These apartments were constructed in the Build-to-order (BTO), and the Sale of Balance Flats (SBF) scheme.

 

The BTO projects are six in number – one in Yishun, one Geylang, two in Bidadari, two in Woodlands, making it a total of 4,802 units. The price for a two-room Flexi flat in Woodlands ranges from S$73,000 to S$622,000; same applies to a 3Gen flat in Bidadari.

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The Reinvention of Woodlands

Woodlands residents are set to benefit from the formation of six “star attractions”, under new plans outlined by the HDB. Speaking at the launch of the Remaking Our Heartlands exhibition, Mr Lawrence Wong, the Minister of MND (Ministry of National Development) announced that the plans would revitalise the area, and would be in the form of both residential and recreational developments.

Woodlands North Coast
Woodlands North Coast (Credit: URA)

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Mixed Residential-Commercial Development at Woodleighe

 

The launch of new residential and commercial site near the Upper Serangoon road was scheduled for tender in 2017. The launch of this mixed-use plot left all the property observers excited. It is estimated that the area will produce total 825 residences. For commercial space, 15,000 square meters is allocated. According to the National Development Ministry, the commercial area will offer services to the residents of the area. It is expected that the land will received bidding price ranging from  S$750 psf ppr to S$920 psf ppr.

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The Record Breaker – Toh Tuck Site

 

Toh Tuck is a residential area located in the western part of Singapore having many private and public housing along the Jalan Jurong Kechil road. The Toh Tuck road basically serves as a border line for Bukit Batok & Bukit Timah.

 

It’s a prime area which has got many added advantages besides being within an established residential area. It’s very close to Bukit Batok Nature Park and Bukit Timah Nature Reserve. Plenty of dining & eating outlets are also easily available & accessible down the road.

Residential Plot at Toh Tuck Site
Residential Plot at Toh Tuck Site

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Local Firm Trusted to Build $325 Million Tanah Merah Station Platform

Local Firm Trusted to Build $325 Million Tanah Merah Station Platform

 

A well-established, local firm has been awarded the important contract to build a new platform at the increasingly busy, Tanah Merah Station in Singapore. This contract is valued to be worth $325 million and includes building a modern platform at this busy station and constructing viaducts.

 

Tanah Merah MRT Station
Tanah Merah MRT Station

 

The Land Transport Authority have continued their aims to improve the rail network and have given this contract to the trusted, Lum Chang Building Contractors (LCBC), who have extensive infrastructure knowledge and experience with other building projects locally across Singapore, as well as internationally. Their previously successful constructions include Bukit Panjang MRT and stations based on the Circle Line.

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Tampines Site For Sale

 

Tampines Site For Sale

 

A new residential site in Tampines Avenue 10, Singapore, has been launched under the name of Parcel C and is one of the confirmed listings for the first half of the Government Land Sales Programme for 2017.

 

Located in District 18 of Singapore, Parcel C has a land area of around 21,717.7 square meters and gross floor area of 60,810 square meters. The new Singapore condominium site is allowed a maximum building height of 64 metres above mean sea level and it is estimated to house 715 private condominiums for residents in the Tampines area. It is expected to be popular with Singapore nationals and expatriots currently living in Tampines or that are looking to move to the area, as it enjoys a good location and is near to Bedok Reservoir Park.

 

Land Parcel C at Tampines Avenue 10
Land Parcel C at Tampines Avenue 10

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Paya Lebar Quarter

Paya Lebar Quarter

 

Paya Lebar, the commercial hub of Singapore is transforming fast to become a ‘regional business hub’ of the city. Over the past few years this place has undergone dramatic transformations. The URA plans to provide greater opportunities to the people pretty close to their homes. This upcoming project will not only enhance the place with its development but also promises to become the main point for gatherings for people coming here and will revive life at the riverbanks of Geylang River. Besides this advantage of the place, there are other advantages like its connectivity with expressways and roads namely Changi Road, Paya Lebar Road & Sims Ave.

Transformation of Paya Lebar
Transformation of Paya Lebar (Source : URA)

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Serangoon Road Site

Serangoon Road

The famous & the earliest roads of Singapore which passes through Singapore’s ‘Little India’. The commercial, religious & cultural centre for the foreign Indian community as well as the locals. Basically it’s a hub for various activities of the Indian community and becomes full of life during festivals & of course at weekends too. Being one of the oldest roads, it has got many renowned buildings and shops. One of which is the ‘National Aerated Water Company’s’ building.

 

Serangoon Road Site
National Aerated Water Co. Ltd at Serangoon Road Site

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Tuas Mega Port

Tuas Mega Port

The building of the Tuas Mega Port, announced in October 2012, is well underway with work on Phase 1 beginning in the spring of 2016. This first phase, which is scheduled for completion shortly after 2020, will comprise 20 deep-water berths, and will be followed by 3 subsequent phases due to be completed around 2040.

 

Tuas Mega Port
Tuas Mega Port ( Source : MPA.gov.sg)

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