3 new BTO projects launched offering 2,696 flats

As published in Channel News Asia
30 June 2010 (Wednesday)

	Artist impression of Waterway Terraces

SINGAPORE: The Housing and Development Board (HDB) launched three new Build-To-Order (BTO) projects in Punggol and Sengkang on Wednesday.

The projects are Waterway Terraces in Punggol, Fernvale Foliage and Rivervale Arc in Sengkang.

A total of 2,696 flats will be offered.

HDB says this is the largest number of BTO flats offered in a single launch so far.

They comprise 238 units of 2-room, 399 units of 3-room, 1,585 units of 4-room and 474 units of 5-room flats.

95 per cent of the public supply will be set aside for first-timers.

HDB says that with the latest launch, it would have offered a total of 8,828 new BTO flats for sale in the first six months of this year.

This is equivalent to the BTO supply for the whole of last year.

Waterway Terraces in Punggol will be the first waterfront housing project.

It offers 1,072 premium flats and boasts eco-friendly features which include solar power to supplement lighting needs in common areas.

Prices of the three-room units start from S$186,000. Four- and five-room units start from S$300,000 and S$374,000 respectively.

Fernvale Foliage in Sengkang offers 504 standard flats and Rivervale Arc, also in Sengkang, offers 1,120 standard flats.

They are priced lower than the flats in Waterway Terraces. Prices range from S$68,000 to $279,000.

HDB says it plans to launch at least 12,000 new BTO flats by September and more if there is demand.

The upcoming projects will be in Bukit Panjang, Jurong West, Yishun and Woodlands.

In July, flat buyers can look forward to the launch of about 1,000 BTO flats in Bukit Panjang and Jurong West.

- CNA/ir

Remaking of Punggol estate on track

As published in Channel News Asia

22 June 2010 (Tuesday)

By Mustafa Shafawi

SINGAPORE: Plans for remaking Punggol are on track.

Senior Minister of State for National Development, Grace Fu, said as of June 1, HDB has completed almost 18,000 residential units in Punggol.

Another 9,400 are under construction.

Subject to demand, HDB is on track to complete 35,000 flats by the end of 2015.

This will make Punggol similar in size to Toa Payoh.

Ms Fu was speaking at the Punggol, Remaking our Heartlands Exhibition at HDB Hub.

She said as Punggol's population attains critical mass, new facilities can and will come on board.

The first mixed commercial-cum-residential development site at the Town Centre will be launched in the second-half of this year.

And a premium HDB project will be launched later this month, boasting waterfront living an eco-friendly features.

Ms Fu stressed that it's also important for a new town like Punggol, to foster its identity by heightening awareness of its rich heritage, which dates back to the early days of Singapore.

Grassroots leaders are working together with government agencies to develop educational panels along the Punggol Waterway, highlighting various aspects of Punggol's developments, both past and present.

For example, the panels along the Heartwave Wall, near Punggol MRT station, will depict the story of Punggol's evolution and its significant development milestones.

The Heritage Trail along Punggol Road will showcase the history of the road, together with a focus on the flora and fauna of old and present Punggol. - CNA/jy

Premium BTO project in Punggol to be launched

As published in Channel News Asia
22 June 2010 (Tuesday)

By Mustafa Shafawi

SINGAPORE: The Housing and Development Board will launch a premium housing project in Punggol later this June under the Build-To-Order (BTO) system.

Sited along the Punggol Waterway, the project will offer waterfront living and boasts eco-friendly features.
In line with the project's emphasis on energy conservation, there will be large courtyards and openings to promote natural ventilation and airflow to flats and common areas.

Solar panels will also be introduced to offset electrical consumption at the common areas.

The premium housing project targets a niche group of buyers who are prepared to pay more for its signature attributes - prime location, groundbreaking design with vantage views and eco-friendly features.

This was revealed by Senior Minister of State for National Development Grace Fu when she launched the Punggol, Remaking our Heartlands Exhibition at HDB Hub.

She said two other BTO projects will also be launched in Sengkang, providing choices for flat buyers with different budgets and preferences. - CNA/jy

Punggol EC site awarded

As published in The Straits Times

17 June 2010 (Thursday)

THE Housing Board has awarded the Punggol site for Executive Condominium housing to ChoiceHomes Investments and CEL Development, which jointly submitted the top bid of $223.7 million.

The winning firm is a joint venture between NTUC Choice Homes Co-operative and Chip Eng Seng, which plans to develop the 99-year leasehold site at the junction of Punggol Field and Punggol Road into a 17-storey, 600-unit project with full condo facilities. Its tender bid works out to $308 per sq ft per plot ratio (psf ppr) for the 22,497 sqm site.

Five bidders made a play for the site near Punggol MRT station, after it was triggered for sale with a minimum offer price of $147.7 million.

NTUC Choice Homes will hold a 60 per cent interest through its subsidiary Choicehomes Investments while Chip Eng Seng unit CEL Development will hold 40 per cent.

Their winning bid is about 50 per cent higher than the trigger bid of $147.7 million and about 4 per cent above the second highest bid of $296.3 psf ppr from Hoi Hup Realty and Sunway Developments.

China-based Qindao Construction was next with $280.5 psf ppr.

The Punggol site is the fourth EC tender this year. The previous three had attracted seven to seven to 11 bids.

Chip Eng Seng setting up SPV for Punggol EC development

As published in The Straits Times
16 Jun 2010

By Mok Fei Fei

SINGAPORE: Construction firm Chip Eng Seng said Wednesday that its wholly-owned subsidiary, CEL Development will set up a special purpose vehicle (SPV) to facilitate the development of an executive condominium (EC) in Punggol.

This is in view of the fact that CEL and its partner, Choicehomes Investments, have emerged as the top bidder in a tender for the site.

Both sides put in a joint bid of $223.74 million for the 99-year leasehold site.

The site has a gross permissible plot ratio of three and a maximum allowable gross floor area of some 67 and a half thousand square metres.

The proposed development, with full condominium facilities, will comprise approximately 600 residential units.

CEL and its Choicehomes will incorporate a special purpose company to jointly develop the project.

Choicehomes will hold a 60 per cent stake in the SPV while CEL will have a 40 per cent interest in the SPV.

Choicehomes is a wholly-owned subsidiary of NTUC Choice Homes Co-operative.

Chip Eng Seng says the Proposed Development will be financed by internal fund and bank borrowings. - CNA/jy