URA receives 5 bids for Choa Chu Kang site

Posted on June 30, 2011 by luxuryasiahome

The Urban Redevelopment Authority (URA) has closed the tender for the residential site at Choa Chu Kang Road/Phoenix Road after receiving five bids in total.

Joint bidders Far East Civil Engineering and China Construction Development submitted the highest bid of S$142.78 million, which translates to about S$411 per square foot per plot ratio.

The next highest bid came from EL Development at S$122 million.

The site was launched for public tender on May 5 on a 99-year lease.

The land parcel has an area of over 15,000 square metres and a maximum permissible gross floor area of 32,000 square metres.

CB Richard Ellis’ executive director for residential, Joseph Tan, said the site could be developed into a new 24-storey condominium of around 335 units.

Located on the fringe of Choa Chu Kang and Bukit Panjang HDB estates, residents of the up-coming development would benefit from the amenities and facilities there.

Mr Tan said the top bid would translate to a breakeven cost ranging from S$800 to S$850 per square foot.

URA said it would decide on the winning bidder at a later date.

Source : Channel NewsAsia – 30 Jun 2011

URA puts up 2 residential sites for sale by tender

Posted on May 5, 2011 by luxuryasiahome

The Urban Redevelopment Authority (URA) has put up two residential sites along West Coast Link and along Choa Chu Kang Road for sale by tender.

The land parcels were released for sale under the Confirmed List of the Government Land Sales Programme for the first half of the year.

Together, the two 99-year lease sites can yield nearly 700 housing units.

URA said the land parcel at West Coast Link has a site area of about 1.27 hectares with a maximum gross floor area of nearly 35,500 square metres. It is expected to yield 360 units and the tender will close at noon on June 23.

Meanwhile, the parcel at Choa Chu Kang Road has a site area of about 1.54 hectares with a maximum gross floor area of over 32,000 square metres. It is expected to yield 335 units and the tender will close at noon on June 30.

URA said selection of the winners will be based on the tendered land price only.

Looking ahead, URA added that the Housing & Development Board will be releasing an Executive Condominium site at Punggol Way for sale later this month.

Together, these three residential sites can potentially yield over 1,400 housing units.

CBRE Research said the site at West Coast Link is adjacent to The Vision condominium, which is currently under construction.

“The West Coast Park and Clementi Woods provide a lot of greenery and open space for the residents in this neighbourhood,” said Li Hiaw Ho, executive director of CBRE Research.

He added that the location is popular with the Japanese community because of the presence of Waseda Shibuya High School and The Japanese Supplementary School. The National University of Singapore is also situated close by.

Amenities and shopping facilities are available at West Coast HDB estate and West Coast Plaza.

“Assuming that the new project on the subject site will be able to sell at around $1,000 psf – $1,100 psf, we estimate it will be able to fetch bids (of) $214 million to $221 million ($560 psf/plot ratio to $580 psf/plot ratio),” Mr Li added.

Referring to the site at Choa Chu Kang Road, he said the location is on the fringe of Choa Chu Kang and Bukit Panjang HDB estates and will benefit from the amenities and facilities there. The Teck Whye LRT station is also a short walk away.

Based on the pricing of The Tennery, a new project at Woodlands Road, Mr Li said the Choa Chu Kang site “will be able to fetch a land price of $208 million to $222 million ($600 psf/plot ratio to $640 psf/plot ratio).”

Source : Channel NewsAsia – 5 May 2011

HDB awards Choa Chu Kang EC site to Camborne Developments

Posted on March 31, 2011 by luxuryasiahome

The Housing and Development Board has awarded the residential land parcel at Choa Chu Kang Drive to Camborne Developments.

The developer had submitted the highest tender price of S$170.1 million out of the six bids for the site that is proposed for executive condominium (EC) housing.

The 17,590 square metre site was launched for sale on January 21 and closed on March 22.

The 99-year leasehold site has a maximum gross floor area of about 49,250 square metres, which could yield around 490 housing units.

The S$170.1 million tender price reflects S$321 per square foot (psf) per plot ratio and translates to a breakeven cost of about S$650 psf.

CBRE Research had said the new EC project could likely fetch around S$700 psf on average.

Source : Channel NewsAsia – 31 Mar 2011

HDB receives 6 bids for Choa Chu Kang site

Posted on March 22, 2011 by luxuryasiahome

The Housing and Development Board (HDB) has received six bids for the land parcel proposed for executive condominium (EC) housing at Choa Chu Kang Drive.

The 49,250 square metre site was launched for sale on January 21 and closed at noon on Tuesday.

The highest bid came from Camborne Developments at S$170.1 million, followed by a joint bid of S$159 million by FCL Tampines Court and Keong Hong Construction.

The lowest bid of about S$117.2 million was submitted by Mezzo Development.

The 99-year leasehold site has a maximum gross floor area of 49,251 square metres.

HDB said it will announce the award of the tender at a later date after the bids have been evaluated.

CBRE Research said the top bid of S$170.1 million reflects S$321 per square foot (psf) per plot ratio and translates to a breakeven cost of around S$650 psf.

Li Hiaw Ho, executive director, CBRE Research, said: “The subject site is situated at Choa Chu Kang Drive, adjacent to Mi Casa condominium which is currently under construction. It is just a few minutes’ walk from Choa Chu Kang MRT station and Lot 1 shopping mall.”

He added: “In January-February 2011, units in Mi Casa were sold at around S$800 psf. It is likely that the new EC project can fetch around S$700 psf on the average, a differential from the price of private condominiums to take into consideration the eligibility conditions attached to EC projects.”

Source : Channel NewsAsia – 22 Mar 2011

Tender for Ten Mile Junction site attracts eight bids

Posted on February 23, 2010 by luxuryasiahome

The tender for a commercial-residential site at Ten Mile Junction in Choa Chu Kang has attracted eight bids.

The 1.56-hectare site is the first to be launched for tender this year under the Confirmed List of the government land sales programme.

The top bid of nearly S$164 million came from Dollar Land Singapore, a subsidiary of Lucky Realty Company.

This translates to a tendered sale price of some S$4,700 per square metre of gross floor area. And it is higher than market expectation of between S$135 million and S$150 million.

CEL Development, a subsidiary of Chip Eng Seng Corporation, put in the second highest bid at about S$148 million, followed by Sim Lian Land at about S$139 million.

The remaining bids for the site at the junction of Choa Chu Kang Road and Woodlands Road ranged from S$71 million to S$126 million.

The award of the tender will be announced at a later date pending evaluation of the bids.

In 2008, the government rejected the top bid of S$61 million for the same site as it was too low.

Source : Channel NewsAsia – 23 Feb 2010

Far East Organisation sees strong sales for Mi Casa project

Posted on March 30, 2009 by luxuryasiahome

Developer Far East Organisation said its new private residential project Mi Casa at Choa Chu Kang has seen brisk sales during a preview over the weekend.

Far East said 97 of the 123 units released were snapped up even before the development was officially launched.

Mi Casa – Spanish for “My Home” – comprises a total of 457 units at an average price of S$625 per square foot.

Far East Organisation said 80 per cent of Mi Casa buyers are those upgrading from public housing flats.

About 9 per cent of the buyers are Chinese nationals and permanent residents, with another 3 per cent from Malaysia.

The units that were sold include 2- and 3-bedroom apartments, as well as those that come with an extra study room.

The developer said there are also 4-bedroom units which have yet to be launched.

Mi Casa will be officially launched on April 10. Far East Organisation said buyers will enjoy an early bird discount from now till the official launch date.

Source : Channel NewsAsia – 30 Mar 2009

Mi Casa @ Choa Chu Kang

Posted on March 20, 2009 by luxuryasiahome

Designed with a Mediterranean theme, Mi Casa is a perfect getaway for those who love to come home to resort style living everyday. With the Choa Chu Kang MRT and LRT station, bus interchange and Lot One shopping mall mere minutes away, this new condominium is truly one to look forward to, making it the only private residential development in the vicinity.

Located at Choa Chu Kang Drive, other recreational and shopping amenities such as the Community Library, Choa Chu Kang Park, Swimming Complex & Sports Hall and Warren Golf Course are also within a short walk or drive away from the site.

This residential development is also an ideal home for families with school-going children, with numerous schools such as SouthView Primary School, Bukit Panjang High School and Pioneer Junior College located within the neighbourhood.

Location: Choa Chu Kang Drive (District 24)
Tenure: 99-years leasehold
Total Units: 457
Unit Types:
2 Bedroom ~1020-1292sqft
2 + Study ~ 1120-1146sqft
3 Bedroom ~ 1260-1343sqft
3 + Study ~ 1301-2217sqft
4 Bedroom ~ 1384-2316sqft

Email info@lushhomemedia.com with the following for more information:

Mi Casa / Name / Contact # / Unit Type Interested

HDB launches 2 new BTO projects in Choa Chu Kang, Punggol

Posted on December 30, 2008 by luxuryasiahome

The Housing and Development Board (HDB) launched two new housing projects in Choa Chu Kang and Punggol on Tuesday in its last sales exercise of the year.

It will offer a total of 1,181 flats, from studio apartments to 5-room units, under the Build-To-Order (BTO) system – where flats will be built only after most of the units in a specific site have been booked. This brings the total number of flats launched for 2008 to 7,793.

The first project is called Sunshine Court, where 164 studio apartments, 117 3-room flats and 171 4-room flats will be built and sold at between S$58,000 and S$236,000.

Located along Choa Chu Kang Avenue 3, the estate will be situated opposite a neighbourhood centre, which has amenities such as a supermarket and food court.

This is the first time that studio apartments are being offered in Choa Chu Kang and they will be fitted with elderly friendly features like grab bars and non-slip flooring.

The second project, Punggol Regalia, which will be located near the future Punggol Town Centre, offers premium flats with better finishes. There will be 546 4-room and 183 5-room flats, costing between S$252,000 and S$428,000.

In light of the recent debate on new HDB flat prices, the Board said the units are priced affordably, with average households forking out about 20 per cent of their monthly income to service their mortgage, which can be fully paid using CPF funds.

For example, a family with a household income of S$2,200 will end up paying a monthly mortgage of about S$460, after factoring in the Additional CPF Housing Grant (AHG) of S$20,000, for a typical 3-room unit at Sunshine Court that is priced at S$135,000.

Applications for the new flats can be submitted online from December 30 to January 12 at www.hdb.gov.sg.

Source : Channel NewsAsia – 30 Dec 2008

URA closes tender bid for Choa Chu Kang site

Posted on May 27, 2008 by luxuryasiahome

The Urban Redevelopment Authority (URA) has closed the tender for a 53,200-square metre residential site at Choa Chu Kang Drive.

The highest offer for the site was for S$116 million, which translates to S$203 per square foot. The offer was submitted by Tian Hock Properties.

Li Hiaw Ho, executive director of CBRE Research said given the top bid of S$203 per square foot and an estimated breakeven cost of S$580 to S$600 per square foot, the estimated selling price could be S$650 per square foot if the project is launched in a year.

The site at Choa Chu Kang Drive was launched for public tender in March 2008, and is on a 99-year lease.

URA said the winner will be selected after all bids have been evaluated. – CNA /ls

Source : Channel NewsAsia – 26 May 2008

URA rejects bid for Choa Chu Kang Rd/Woodlands Rd site

Posted on April 26, 2008 by luxuryasiahome

The Urban Redevelopment Authority (URA) has rejected the highest bid for the residential site at Choa Chu Kang Road/Woodlands Road.

In a press release out on Friday, the URA said the price offered was too low.

The top bid came in at S$61 million, which works out to about S$1,750 per square metre of gross floor area. There was only one other offer at S$45.6 million.

The land parcel – offered on a 99-year lease – was one of the eight residential sites placed for sale through the confirmed list under the Government Land Sales Programme for the second half of 2007.

The tender was launched in December last year and closed on 3 April. – CNA/so

Source : Channel NewsAsia – 25 Apr 2008

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