Archive for category: Real Estate

Read on FGL launch two freehold household developments – Jervois Pieces and Urban Treasures

The Concept and Price Revenue tender strategy has been adopted for the selling of this Hillview Rise site that has a sizable residential GFA of roughly 40,030 sqm plus a normal setup, to spearhead building productivity through adoption of advanced building technologies or processes.

In the very first phase of the tender procedure, these Concept Proposals which had considerably fulfilled the test standards on building productivity were shortlisted from the Concept Assessment Committee (CEC) supplied by the Building and Construction Authority (BCA), to move to the next phase of tender examination. In the next point, just the cost replicas of this shortlisted Concept Proposals were opened to thought. The website would then be given to the tenderer with the maximum bid among the tenderers with shortlisted Concept Proposals.

Assessment of Concept Proposals

The Concept and Price Revenue tender for the website was started available on 28 December 2017 and its own tender had closed on 3 May 2018. A total of nine Concept Proposals from eight tenderers were obtained for the website as one tenderer filed two Concept Proposals.

Tendered property Rates

The cost envelopes of the six shortlisted Concept Proposals were opened beneath the next phase of the tender evaluation along with the particulars of the cost bids. In accord with the Concept and Price Revenue tender system, the Hillview Rise website is given to Intrepid Investments Pte. Ltd. and Garden Estates (Pte) Limited which submitted the maximum bid of $460,000,000 one of the six shortlisted Concept Proposals.

The successful tenderer suggested the extensive adoption of Prefabricated Prefinished Volumetric Construction (PPVC) using significant design modularization and elevated levels of building integration in executing the evolution of the website. The adoption of Bulk Engineered Timber (MET) for its clubhouse further raises the amount of prefabrication and decreases the functions to be performed on site, resulting in enhanced construction productivity.

The successful tenderer will embrace BIM-based scheduling in addition to QR code monitoring to attain successful job monitoring and interrogate logistics monitoring during construction. The successful tenderer may also embrace an integrated project delivery strategy through the use of Virtual Design and Construction (VDC) on electronic platforms for various parties to discuss and coordinate data through the project lifecycle.

All in all, the Concept Proposal from Intrepid Investments Pte. Ltd. and Garden Estates (Pte) Limited is powerful in its planned construction productivity program and structure management program which aim to realize significant decrease in labour, resulting in significantly improved productivity results.

Read on Lakepoint Condominium near Jurong Lake District has been put up for collective sale

Having a personal condo is something several Singaporeans aspire towards, together with great reason. Many personal condos include an wide assortment of lifestyle amenities — sufficient to rival nation clubs in certain instances — with comprehensive choices to cater to residents’ diverse needs. What is more, placing the money in a house is viewed by some as a type of investment.

First-time property buyers qualify for particular HDB grants if they buy an EC. On the other hand, the cheque grant cash should be returned to the purchaser’s (or buyers’) CPF account with all the interest once the EC is marketed.

According to the data tendencies above, the costs of private condos on a per square foot (PSF) foundation have appreciated by 156 percent since 2004 while ECs have dropped behind at 133 percent.

A couple of elements can contribute to this, including the restricted pool of buyers who will buy ECs — ECs can only be offered to overseas buyers following 10 decades. Having a smaller pool of buyers over the initial ten decades, provide may outstrip demand, leading to lower capital appreciation compared to their own personal condo counterparts.

TDSR says that total monthly obligations on all loan obligations (like new home loans) shouldn’t exceed 60 percent of gross earnings. In addition to this TDSR, loans required for EC buy need to fulfil the stricter Mortgage Service Ratio (MSR) standards. MSR shouldn’t exceed 30 percent of their buyer or buyers’ annual gross earnings.

The amount of the loan obtained under MSR guidelines can be reduced when compared with the amount of the loan regulated by TDSR. Because of this, a real estate buyer may potentially acquire a larger sum when buying a private condo rather than purchasing an EC.

Lower chance Price

Contrary to ECs, personal condo owners are able to market their property at any given moment, subject to the Sellers’ Stamp Duty which occupies a 12-per-cent taxation for the sale of their property over the initial year, eight percent in the next year, and four percent in the next year. This enables more flexibility for owners who might desire to profit on their own property.

For property buyers who don’t want to be locked-in from the five-year Minimum Occupancy Period (MOP) upon handover in addition to both – to – construction time for ECs, purchasing a private condo could be a more workable move.

Home aims do occasionally change — a real estate buyer could have bought a private condo planning to remain inside. An alternate arrangement or lifestyle change could spur the purchaser to lease the unit out instead.

But if a person opts to purchase an EC, the MOP limits owners from purchasing or leasing out the entire EC in this age.

Additionally, two individuals owning a personal condo has the choice of decoupling — that entails shifting the share in the house to another individual. Decoupling generally means another party can purchase another house without depriving Additional Buyers’ Stamp Duty.

No resale levy

Read more on URA launches tender for residential with commercial in 1st storey at Tan Quee Lan Street

A 27-unit residential development at Waterloo Street, using a vacant business unit on its first floor, was established for collective economy. The development, known as Min Yuan, has an asking price of $145 million. Retailing for a payable growth charge of $19.55 million, the property cost equates to roughly $2,678 psf per plot ratio,” states advertising representative CBRE.

The land sits on a 14,629 sq ft plot in 62 Waterloo Street with a 999-year tenure. Although it’s now zoned for”residential with commercial in first storey” usage under the 2014 Master Plan, the website could be developed to a resort construction in a plot ratio of 4.2, or a maximum permissible gross floor area of roughly 61,443 sq feet, dependent on URA Outline Planning Permission advice.

“The subject land presents a timely chance for buyers to capitalise on the government’s Draft Master Plan 2019 statement to further anchor and interrogate the Bugis, Bras Basah, Fort Canning and Civic District as a cultural and lifestyle destination,” states Galven Tan, executive director of capital markets and residential solutions in CBRE. The future resort development will even appreciate unblocked panoramic views of Singapore’s CBD skyline along with the Fort Canning Park, he adds.

This past year, tourist arrivals climbed 6.2percent y-o-y to 18.5 million, and investment requirement for resort assets has climbed along with the momentum has become 2019. “We’re getting more enquiries for resort chances; and in actuality, the pre-marketing actions for the subject site have attracted strong interest because of the locational features,” says Tan.

In November this past year, the neighbouring Waterloo Apartments were offered to Fragrance Group for $131.1 million, and also the programmer announced its intention in the opportunity to redevelop the website into a new resort. This month also found Golden Wall Centre in Short Street sold en bloc for $276.2 million into a subsidiary of Worldwide Hotels, which counts the Hotel 81 chain in its own portfolio.