Government to release three residential sites to yield about 1,385 housing units

To provide developers and home-buyers with more choices for private housing, the Housing & Development Board (HDB) and Urban Redevelopment Authority (URA) are releasing two Executive Condominium (EC) sites and a residential site for sale in September 2012.

The two EC sites at Sengkang West Way / Fernvale Link and Pasir Ris Drive 3 / Pasir Ris Rise are launched for sale under the Confirmed List today. The residential site at Alexandra View is made available for application on the Reserve List system today.

Together, these three sites can yield about 1,385 residential units.

Award of Tender for Residential Site at Pasir Ris Drive 3

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Pasir Ris Drive 3 to Capital Development Pte. Ltd.

The company submitted the highest bid at S$211.0 million in the tender for the site. The tender attracted a total of five bids.

The residential site was launched for sale by public tender on 16 April 2012 and closed on 5 June 2012. The land parcel was offered for sale on a 99-year lease term.

The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2.

Tender closing for residential site at Pasir Ris Drive 3

The Urban Redevelopment Authority (URA) closed the tender for the residential site at Pasir Ris Drive 3 today.

The site at Pasir Ris Drive 3 was launched for sale by public tender on 16 April 2012. The site was offered for sale on a 99-year lease.

The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2.

A total of 5 bids were presented. The highest tenderer is Capital Development at S$211.0 million.

Singland Development handed in the next highest bid of S$209.9 million, while OUE Reef Development made the third highest bid of S$198.1 million.

A decision on the award of the tender will be made after the bids have been evaluated.

Tender for Elias Rd/Pasir Ris Drive 3 site attracts 9 bids

The Housing and Development Board (HDB) tender for a land parcel at Elias Road/Pasir Ris Drive 3 has attracted nine bids at the close.

Analysts said the number of bids for the site – which has been designated for development of strata landed housing, condominium or flats – show that developers are still keen on the residential market.

The top bid of S$165.9 million came from Elitist Development Pte Ltd.

This works out to S$472 per square foot per plot ratio.

The top bid is 19 per cent higher than the second bid of S$139 million by OUE Reef Development Pte. Ltd.

Meanwhile, the lowest bid came from Santarli Corporation Pte. Ltd at S$108.9 million.

The 99-year leasehold site was launched for public tender on 15 February 2012.

It has a maximum permissible gross floor area of 32,650.8 square metres and is located on the northern boundary of Pasir Ris new town.

“It is likely that the developer will choose to develop a condominium project although there is the option of building strata landed homes onsite. Based on this price, the new condominium may be priced about S$900 psf,” said Li Hiaw Ho, executive director at CBRE.

Meanwhile, Nicholas Mak, the head of the Consultancy & Research division at SLP International Consultants, said the site may be developed into low-rise housing with a breakeven price of around S$800 and S$830 per square foot.

The site is surrounded by the landed homes of Riverina estate and Pasir Ris Heights, with Elias Mall and Pasir Ris Community Centre just across the road from the site.

The Pasir Ris MRT station, White Sands shopping mall and Downtown East are also a short drive away.

Mr Li also added that recent new launches in Pasir Ris have been well received.

“Ripple Bay (679 units) at Pasir Ris Drive 4 sold over 400 units at the average price of S$870 psf after two weekends. The Palette condominium at Pasir Ris Grove (892 units), which was launched in November 2011 at the average price of S$900 psf, is over 60 per cent sold,” said Mr Li.

He believes the Pasir Ris and Tampines new towns will provide a ready pool of HDB upgraders who will be interested in such mass-market projects.

HDB said a decision on the award of the tender will be made after the bids have been evaluated. This will be announced at a later date.

Source : Channel NewsAsia – 11 Apr 2012

S$40m sports and recreation centre opens in Pasir Ris

Residents of Pasir Ris will have a new S$40 million sports and recreation centre in their neighbourhood, to complement existing sports facilities there.

Deputy Prime Minister and MP for Pasir Ris-Punggol GRC Teo Chee Hean, who officially opened the centre on Sunday, noted that residents had long wanted the centre in Pasir Ris.

He said they can now use it to enjoy a sporty and healthy lifestyle, as well as bond with family and friends.

The centre, which is the 21st of the Singapore Sports Council (SSC), has been open to the public since July 18 this year.

Its swimming complex has more than 20,000 visitors a month, while its ClubFITT Gymnasium has an average of 11,000 users a month.

The popularity of the centre, which also boasts an air-conditioned sports hall, a five-a-side soccer court as well retail space, can be credited to the careful planning of its location and facilities.

DPM Teo said: “We had some discussion whether we should have more futsal courts or more tennis courts, so we have a good balance now.

“And even the facing and design, you can see that it opens out to Pasir Ris Park so we can have activities that sort of spill over into the park. And if it drizzles, we can come into the ‘big void deck’.”

The centre also has green features such as a rainwater-harvesting system, solar panels and vertical “green” walls to reduce heat.

It’s aiming to attain the Building and Construction Authority’s Green Mark platinum award, Singapore’s highest accolade for green buildings.

While watching Team Singapore in action, Mr Teo said he hopes they will at least try to achieve their personal best and be good ambassadors for Singapore in the upcoming SEA Games.

He said he also hopes Singapore’s bid to host the SEA Games in 2015 would mean more of such facilities for its athletes.

Mr Teo said: “It will mean that all the sports facilities will get a little bit of an upgrading here and there to make sure things are up to standard. We will have the new Sports Hub open, I think that will be a wonderful location, and we hope that will also inspire young people, especially between now and 2015, to get into sports, competitive sports.”

Mr Teo also believes such centres are the perfect venue for bonding between family and friends.

The newest centre also comes with Braille and tactile markings for the blind and a ramp for wheelchair users to have easier access to the swimming pools.

Richard Seow, chairman of the Singapore Sports Council, said accessibility is one thing the public want more of.

He said: “We have a lot of running tracks in Singapore, and the question is, do the elderly need to walk around running tracks or can we do other walking trails or paths for them.”

The sports council is now collecting feedback for its 20-year Sports Facilities Master Plan: Vision 2030.

Other areas that the sports masterplan will look at is if more non-traditional sports can also be incorporated into Singapore’s sporting landscape.

Source : Channel NewsAsia – 6 Nov 2011

Pasir Ris EC site attracts top bid of S$122m

The tender for a executive condominium (EC) site at Pasir Ris has attracted a high number of developers, according to the Housing & Development Board (HDB).

There were a total of 11 bidders for the site at Pasir Ris Drive 3 and Pasir Ris Link.

The top offer of S$122 million came from joint bidders Ho Lee Group and Maxdin. That translates to about $291 per square foot per plot ratio.

This means a breakeven price of around $600 per square foot.

Experts said a possible reason for the high interest is the recent move by the government to raise the income ceiling for those eligible for EC housing.

The land parcel at Pasir Ris has a site area of around 18,500 square metres.

Nicholas Mak, Head of Research at SLP International, said: “This site attracted a high number of bidders due to its attractive location and the strong sales results of the Belysa Executive Condominium (EC). The Belysa EC was launched in May 2011 and was sold out in one month. The site is within the vicinity of Downtown East and not far from the Pasir Ris MRT station.

“Other than this site, there is no other supply of new executive condominium project in the Pasir Ris area in the immediate future. In addition, some developers also expect that the demand in the mass market would remain healthy in the coming year, especially in the EC market. Therefore there is a strong demand for EC development sites.”

Source : Channel NewsAsia – 11 Oct 2011

URA awards tender for residential site

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jalan Loyang Besar/Pasir Ris Rise to Hoi Hup Realty, Sunway Developments and Oriental Worldwide Investments.

The consortium submitted the highest bid of some S$141 million in the tender for the site.

Their winning bid translates to a land price of about S$361 per square foot of gross floor area.

The tender for the residential site was launched late August and closed on October 4.

The land parcel was offered for sale on a 99-year lease term.

Source : Channel NewsAsia – 10 Oct 2011

HDB receives 9 bids for Pasir Ris site

The Housing and Development Board (HDB) has received nine bids for the sale of a site at Pasir Ris Central/Pasir Ris Drive 1.

The 16,300 square metre site is designated for public housing under the Design, Build and Sell Scheme (DBSS).

It was launched on March 16 and the tender closed at noon on Tuesday.

The top bid of about S$123.88 million came from Singxpress Land and Kay Lim Holdings. It works out to S$3,023 per square metre.

The second highest bid was from Yuan Ching Development at S$103.69 million, followed closely by Kienta Engineering Construction at S$103.65 million.

The lowest bid of S$75.7 million was submitted by Qingdao Construction.

Under the DBSS, land for public housing development will be tendered out directly to private developers by HDB on a 103-year lease.

The successful bidder will undertake the entire development from planning, design and construction, to the sale of the flats.

HDB said it would evaluate the provisional tender results and announce the final tender results at a later date.

Source : Channel NewsAsia – 31 May 2011

Pasir Ris residential site awarded to MCL Land

The Urban Redevelopment Authority on Thursday awarded a residential site at the junction of Jalan Loyang Besar and Pasir Ris Drive 4 to MCL Land, which submitted the top bid of S$246.1 million at the close of tender on Tuesday.

There were only three bids submitted, with observers saying this was because developers were concerned over potential competition from projects at nearby sites, including those at Pasir Ris Drive 1 and an executive condominium site in Elias Road. They added that the impending review to raise the income ceiling for public housing eligibility may also have a dampening effect on mass market private homes.

The site has an area of 27,054.8 sq m with maximum permissible gross floor area of 56,816 sq m. MCL’s bid translates to S$402 per sq ft per plot ratio.

CBRE Research executive director Li Hiaw Ho said that “units in this new project will be able to fetch above S$800 psf on the average”. This was based on caveats lodged between February and last month for units in NV Residences in Pasir Ris Drive 1 which were sold at between S$800 psf and S$890 psf.

Meanwhile, units at another nearby project, Oasis @ Elias, were sold at between S$680 psf and S$830 psf, according to CBRE.

Source : Today – 12 May 2011

Residential site at Jalan Loyang Besar/Pasir Ris attracts 3 bids

A residential site at the junction of Jalan Loyang Besar and Pasir Ris Drive 4 has attracted only three bids at the close of tender.

The top bid came from MCL Land at S$246.1 million, with the lowest bid coming from a partnership between FCL Topaz, F.E. Lakeside and China Construction Development at S$220.1 million.

Some observers said that there were only a few bids because developers were concerned over potential competition for the completed units.

The likely competition is from projects at nearby sites including those at Pasir Ris Drive 1 and an executive condominium site at Elias Road.

They also note that an impending review to raise the income ceiling for public housing eligibility may also have had a dampening effect on the market for mass market private homes.

The site has an area of 27,054.8 square metres with maximum permissible gross floor area of 56,616 square metres.

The top bid of S$246.1 million translates to S$402 per square foot (psf) per plot ratio and works out to a breakeven cost of around S$750 psf.

CBRE Research executive director Li Hiaw Ho said that “units in this new project will be able to fetch above S$800 psf on the average”.

This was based on caveats lodged between February and April 2011 for nearby units in NV Residences at Pasir Ris Drive 1 which were sold at between S$800 psf and S$890 psf.

Meanwhile, units at another nearby project, Oasis @ Elias, were sold at between S$680 psf and S$830 psf, according to CBRE.

“Demand is likely to come from the potential upgraders currently living in Pasir Ris and Tampines new towns and those working at Changi International Airport, Pasir Ris Wafer Fab Park and Tampines North Wafer Fab Park,” added Mr Li.

Other attractions that could boost interest among potential home buyers for the site include its proximity to Downtown East and NTUC Lifestyle World.

White Sands shopping mall and Pasir Ris MRT station and bus interchange are also a short drive away.

The site is also within walking distance to Pasir Ris Park and the beach.

Analysts said that units on the fifth-storey and above will have a view of the sea as well.

The 99-year lease site was launched for public tender on 29 March 2011.

Source : Channel NewsAsia – 10 May 2011