As published in The Straits Times
23 Sep 2010
By Jessica Cheam
Lower bids suggest cooling measures starting to have impact, say observers
A PUNGGOL executive condominium site tender closed on Thursday with four developers putting in bids below industry expectations.
The highest bid for the Punggol Drive plot was $136.2 million, coming from Qingdao Construction (Singapore) and working out to be $237 per sq ft (psf) - below the anticipated $250 to $290 psf predicted by analysts.
The bid was only 2.2 per cent higher than the second-highest offer of $133.2 million from Hoi Hup Realty, Sunway Developments and SC Wong Holdings.
SLP International research and consultancy executive director Nicholas Mak noted that Qingdao's bidding price was 23 per cent lower than the amount paid by ChoiceHomes Investments and CEL Development for another exec condo site in Punggol Field earlier in June.
Industry observers say the tender results suggest that the Government's supply-side measures to cool Singapore's red-hot property market are beginning to have an impact on land prices.
For the second half of the year, the state has earmarked the largest potential amount of land for release since the start of the land sales programme in 2001.
Friday, September 24, 2010
Highest Bid for Punggol Site
Qingdao Construction submits highest bid of S$136m for Punggol site
As published on CNA
23 September 2010
By Jonathan Peeris
SINGAPORE : The Housing and Development Board (HDB) has closed the tender for a residential site at Punggol Drive/Punggol East after receiving four bids.
The highest bid of S$136 million for the site came from Qingdao Construction. That translates to about S$237 per square foot per plot ratio.
The next highest of S$133 million came from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.
Li Hiaw Ho, executive director of CBRE Research, said the quantum of the bids is quite modest, which is expected for a location that is lacking in amenities and further away from Punggol Central.
Mr Li added that units in this new executive condominium project will possibly sell around S$600 per square foot.
The land parcel has a site area of 15,700 square metres and a maximum allowable gross floor area of 53,380 square metres.
The proposed site is for executive condominium housing.
With the government's plans to develop Punggol New Town into a residential estate with mostly waterfront housing, CBRE's Mr Li said the project will likely be attractive to young couples and couples with young children.
The site was launched for public tender on August 5 and has a lease period of 99 years.
HDB said it will evaluate the bids and announce the final tender results within the next two
weeks.
- CNA/al
As published on CNA
23 September 2010
By Jonathan Peeris
SINGAPORE : The Housing and Development Board (HDB) has closed the tender for a residential site at Punggol Drive/Punggol East after receiving four bids.
The highest bid of S$136 million for the site came from Qingdao Construction. That translates to about S$237 per square foot per plot ratio.
The next highest of S$133 million came from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.
Li Hiaw Ho, executive director of CBRE Research, said the quantum of the bids is quite modest, which is expected for a location that is lacking in amenities and further away from Punggol Central.
Mr Li added that units in this new executive condominium project will possibly sell around S$600 per square foot.
The land parcel has a site area of 15,700 square metres and a maximum allowable gross floor area of 53,380 square metres.
The proposed site is for executive condominium housing.
With the government's plans to develop Punggol New Town into a residential estate with mostly waterfront housing, CBRE's Mr Li said the project will likely be attractive to young couples and couples with young children.
The site was launched for public tender on August 5 and has a lease period of 99 years.
HDB said it will evaluate the bids and announce the final tender results within the next two
weeks.
- CNA/al
Wednesday, September 22, 2010
Punggol North Lantern Festival (25 Sep 2010)
Date: 25 Sept 2010 Sat
Time: 6.30pm to 10.30pm
Venue: Open Area behind Blk 173 Punggol Field
Guest Of Honour : Ms Penny Low
Cost: $3 per ticket
Tickets available at Punggol 21 Community Centre (2-10pm daily)
Ticket price includes lantern, lucky draw, food, ice cream
Time: 6.30pm to 10.30pm
Venue: Open Area behind Blk 173 Punggol Field
Guest Of Honour : Ms Penny Low
Cost: $3 per ticket
Tickets available at Punggol 21 Community Centre (2-10pm daily)
Ticket price includes lantern, lucky draw, food, ice cream
Tuesday, September 14, 2010
Fibre Optic Internet
Fibre optic cables for Singapore's new, ultra high-speed broadband network, which will be completed by 2012, will be installed into homes and offices from September 2009.
The company contracted to do the installation, OpenNet, will start sending out letters to homeowners from July 2009.
Residents have three weeks to respond and installation is free.
You can log on to OpenNet website to check when the scheduled date for your house is targetted.
The company contracted to do the installation, OpenNet, will start sending out letters to homeowners from July 2009.
Residents have three weeks to respond and installation is free.
You can log on to OpenNet website to check when the scheduled date for your house is targetted.
Sunday, September 12, 2010
'Green' club for Punggol in 2011
As published in Asia One News
18 Jan 2010 (Monday)
By Jake Chng
AFTER getting eco-friendly flats, Punggol will also have an eco-friendly community club. The $9-million community club, which will open next year, will have a system that pumps rainwater from nearby drains into tanks on its roof. The water will be used to water plants.
The club will also use energy-saving lights and air-conditioners, and have many open-air spaces, including an outdoor gym and a rooftop garden, to promote natural ventilation.
Member of Parliament for Pasir Ris-Punggol GRC, Miss Penny Low, said that the club's management aims for it to achieve the Building and Construction Authority's highest accolade for "green" buildings, the Green Mark Platinum award.
The club, situated beside shopping mall Punggol Plaza, will be an upgrade over the community centre that it will replace - the 650 sq m Punggol 21 Community Centre, which occupies the void decks of blocks 172B and 172C, Edgedale Plains.
The centre, which opened in 2007, uses its classrooms and void-deck space to organise wellness programmes such as yoga and taiji classes, and open fields for bigger-scale events such as last year's New Year countdown.
The new four-storey club will feature a 456 sq m multi-purpose hall that can be used for badminton and table tennis, two 90 sqmdance studios, and a 206 sqm multimedia IT studio.
It will also have two retail shops on its basement and ground floors, which will be linked to Punggol Plaza via linkways.
Visitorship is expected to grow from the current 300 a day to close to 1,000.
Yesterday, at the club's groundbreaking ceremony, Deputy Prime Minister Teo Chee Hean said that the current community centre could not meet the growing needs of Punggol, which is the fastest-growing new town here.
The new club will serve as a meeting place for social and recreational purposes, he said.
Mr Terrence Tan, 35, who is self-employed and lives opposite Punggol Plaza, looks forward to the opening of the club.
He said: "I head down to Sengkang Community Club when I want to meet friends for a game of badminton. But when the new club opens, I'll be sure to go there, since it's so near."
chngjm@sph.com.sg
18 Jan 2010 (Monday)
By Jake Chng
AFTER getting eco-friendly flats, Punggol will also have an eco-friendly community club. The $9-million community club, which will open next year, will have a system that pumps rainwater from nearby drains into tanks on its roof. The water will be used to water plants.
The club will also use energy-saving lights and air-conditioners, and have many open-air spaces, including an outdoor gym and a rooftop garden, to promote natural ventilation.
Member of Parliament for Pasir Ris-Punggol GRC, Miss Penny Low, said that the club's management aims for it to achieve the Building and Construction Authority's highest accolade for "green" buildings, the Green Mark Platinum award.
The club, situated beside shopping mall Punggol Plaza, will be an upgrade over the community centre that it will replace - the 650 sq m Punggol 21 Community Centre, which occupies the void decks of blocks 172B and 172C, Edgedale Plains.
The centre, which opened in 2007, uses its classrooms and void-deck space to organise wellness programmes such as yoga and taiji classes, and open fields for bigger-scale events such as last year's New Year countdown.
The new four-storey club will feature a 456 sq m multi-purpose hall that can be used for badminton and table tennis, two 90 sqmdance studios, and a 206 sqm multimedia IT studio.
It will also have two retail shops on its basement and ground floors, which will be linked to Punggol Plaza via linkways.
Visitorship is expected to grow from the current 300 a day to close to 1,000.
Yesterday, at the club's groundbreaking ceremony, Deputy Prime Minister Teo Chee Hean said that the current community centre could not meet the growing needs of Punggol, which is the fastest-growing new town here.
The new club will serve as a meeting place for social and recreational purposes, he said.
Mr Terrence Tan, 35, who is self-employed and lives opposite Punggol Plaza, looks forward to the opening of the club.
He said: "I head down to Sengkang Community Club when I want to meet friends for a game of badminton. But when the new club opens, I'll be sure to go there, since it's so near."
chngjm@sph.com.sg
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