HDB launches sale of Punggol EC site

As published in Todayonline
26 May 2011

The Housing & Development Board (HDB) has put up an Executive Condominium (EC) housing site at Punggol Way for sale.

The land parcel was released for sale under the Confirmed List of the first half of the Government Land Sales programme.

The 99-year lease site can yield up to an estimated 720 housing units.

The HDB says the land parcel has a site area of about 25,000 sq m, with a maximum gross floor area of around 75,500 sq m.

It added that the site is located in Punggol Town, and is near the Punggol transport hub comprising the LRT, MRT and a bus interchange. Analysts agree that the site is well located.

Mr Nicholas Mak, executive director of SLP International Property Consultants, said: "This land parcel is located only about 700m from the Punggol MRT Station and the future EC development is likely to be popular with home buyers. Although there is another EC project in Punggol that could be launched in the next two months, this tender could still attract four to seven bidders due to its location and proximity to the future Punggol town centre."

The HDB says the new development is expected to be completed in 48 months from the date when the tender is accepted.

Mr Li Hiaw Ho, executive director, CBRE Research, said: "Units in Prive EC, which is further down Punggol Field, were transacted at $660 psf - $715 psf in January-April 2011 period. Units in Austville Residences EC, in Sengkang, were sold at $620 psf - $740 psf over the same period. "We expect the subject site to fetch bids of between $227 million and $244 million with a view to sell the new units at around $700 psf."

The tender will close at 12 noon on July 7.

Overall, the Government has placed 30 sites in this year's first half land sales programme, which can potentially yield more than 14,300 private residential units.

These 30 sites include four Executive Condominium sites and two commercial and residential sites.

GE DPM Teo leads thank you parade at Pasir Ris-Punggol GRC

DPM Teo leads thank-you parade at Pasir Ris-Punggol GRC

GE: DPM Teo leads thank-you parade at Pasir Ris-Punggol GRC
By Wayne Chan | Posted: 08 May 2011 1704 hrs

SINGAPORE : Just hours after its victory was announced, the People's Action Party's (PAP) Pasir Ris-Punggol Group Representation Constituency (GRC) team was out and about on its thank-you parade on Sunday morning.

Led by Deputy Prime Minister Teo Chee Hean, the team travelled from Pasir Ris East to Punggol South to thank residents for their support.

DPM Teo said: "It is also to bring people together, so that we can move forward after this GE (General Election) to continue to build a strong community. We will be here to serve the residents and we want to work with them for the next five years."

Most were happy to see the Deputy Prime Minister and his team, with some expressing concern for Penny Low, who was using a crutch. When asked about what happened to her leg, she said that she had just had an operation.

Ng Geok Siang, a resident from Pasir Ris-Punggol GRC, said: "When we have a problem, we go and see Penny Low at the RC, and she really helps us, so I think it is good that PAP has won.

"I need to apply for a new flat after two-and-a-half years, but we have some trouble with...applying for the flat, so I approached her for help. So she helped me."

And despite winning 64.79 per cent of the votes against the Singapore Democratic Alliance's 35.21 per cent, Mr Teo has said that his team would do its best to listen to residents' needs and meet their expectations.

- CNA/ms

Pasir Ris-Punggol GRC 2011 GE results

Click to enlarge