Homebuyers can look forward to another Design Build and Sell Scheme (DBSS) project in Tampines.
The Housing and Development Board (HDB) is launching a residential site for sale Wednesday by public tender in Tampines under the Design, Build and Sell Scheme or DBSS.
The site is located at Tampines Avenue 5 and Central 8, and is adjacent to the first DBSS project, The Premiere@Tampines.
The site area is about 21,000 square metres in size, with a maximum gross floor area of some 63,000 square metres.
This includes some 1,000 square metres of space for socio-commercial facilities.
The site has a lease term of 103 years and be able to accommodate 580 units.
95 per cent of the flat supply for public applicants will be set aside for sale to first-timers.
The tender will close on August 3.
Meanwhile, HDB also says it will release another two DBSS sites for tender in the second half of 2010.
They are land parcels at Bedok Reservoir Crescent and at Upper Serangoon Road.
The sites are estimated to have a combined yield about 1,000 units.
Under DBSS, the developer tenders for the land and enjoys flexibility in designing, pricing and selling the flats subject to the relevant legislation and rules to preserve the character of public housing.
When completed, the developer will hand over the entire development site to HDB for lease administration, and to the Town Council for maintenance of the common areas.
Flats sold under DBSS come with a 99-year lease and will be offered to buyers under similar HDB eligibility conditions.
Source : Channel NewsAsia – 22 Jun 2010