HDB's Executive Condo ( EC ) at Punggol 21 Plus for tender.

[tom]

It is known that Punggol E4 is the first site up for tender in Punggol 21 plus under the reserve list dated 4th December 2008.

The site is next to Punggol Arcadia ( bounded by Punggol Field and Punggol Road ) in a plot of land now beautifully covered with grass.
( a signboard put up by HDB explains everything )

The land area is 22,497.3 square metres.
Estimated number of dwelling units 615
Minimum offer price $147,700,000
Project completion date 4 years from date of tender acceptance.

Meaning cost of land per unit = $240,162.60 minimum.

Compare this with Sengkang East Avenue / Buangkok Drive EC development.

$103,800,000 for 465 units. ( minimum tender offer price )
This works out to be $ 223,225.80 land cost.

EC development for Yishun Avenue 2 / Yishun Avenue 7 /Canberra Drive.

$137,900,000 for 600 units.
Land cost per unit ( minimum tender price ) $229,833.33

Comparing the three different locations, Yishun is a matured estate, next Sengkang and finally Punggol. Probably  developers may favour Yishun than Punggol. Besides the air and noise pollution in Punggol is quite bad.

[tom]

Tender had been awarded and contractors are busy preparing the ground, fenced up and will gradually move in for construction.

[tom]

This HDB condominium project is on a 99 year leasehold. It comes with full condo facilities, made up of 600 units 17 storey high.

The breakeven price in accordance to tender pricing is about $600 per squae foot. Therefore if the mark-up selling price is 10%, the selling price will be $660 per sq.ft. at the lowest.

This is the first Condominium project in Punggol, so the selling price will be much higher.

It may go up to even $700 to $800 per sq. ft. meaning a 1000 sq. ft unit can cost as much as $700,000 to $800,000

Note : A BTO 5 room HDB flat sells between $400,000 to $500,000

At this moment, it is  everybody guess...........

[tom]

Having a site discussion at the entrance to building site between charge-hand with a group of workers. Accordine to site info, the whole building project will take about 30 months to complete.