(04-01-2014, 03:11 PM)CY09 Wrote: [ -> ]How come the buyer paid so high psf for the unit?
Sing holdings would have sold them a unit for a much cheaper psf.
In other news, the MP exhibition has been extended till 17 Jan 2014. Tis means the Masterplan2013 will be approved at a later stage probably near CNY. What is unique is that Sing Holdings has not moved at all to launch their Robin Site, despite the draft being released in early Dec. Could it be because they have appealed to URA and are awaiting the outcome?
They could be waiting for Koh Brothers to launch their commercial redevelopment project before proceeding to launch the robin road site. Makes more sense this way.
**A freehold industrial redevelopment site at Kim Chuan Drive (pictured) has been put up for sale by tender with an indicative price of around S$44 million to S$46 million, said joint marketing agents Colliers International and Jones Lang LaSalle.
The price translates to about S$506 to S$529 psf ppr.
Zoned for Business 2 purposes, the 34,729 sq ft site has a plot ratio of 2.5 under the 2008 Master Plan and is currently occupied by a three-storey development comprising 10 residential units spread across the second and third floor and 10 shop units on the ground floor.
The plot is situated at the junction of Kim Chuan Drive and Kim Chuan Lane and enjoys easy access to other parts of the island via major expressways like the Pan-Island Expressway, Central Expressway and Kallang-Paya Lebar Expressway. It is also near the Bartley and Tai Seng MRT stations.
Grace Ng, Deputy Managing Director of Colliers International, noted that the site can be “re-developed into a factory or warehouse comprising approximately 49 strata units, each with an average size of some 1,500 sq ft. The completed units are expected to achieve an average selling price of about S$1,000 per sq ft or higher”.
“We see great potential in the subject site – given that it is located within the Paya Lebar growth area; and more so, in the mid- to long-term when the Paya Lebar Air Base relocates to Changi,” Ng added.
The tender for the site will close on 21 February.**
http://www.propertyguru.com.sg/property-...p-for-sale
The book value for the office units is around $570psf and the highest price that the company sold was around $850psf around a year ago. I thought the price for office unit is softening and hence quite surprise to see a resale unit being sold at $905psf.....
(04-01-2014, 01:16 PM)pianist Wrote: [ -> ]do u mean it is too low?
Good morning Every1.
**An executive condominium site at Westwood Avenue (pictured) has received strong interest from developers, attracting a total of 12 bids when the tender exercise closed on Tuesday, said the HDB.
The top bid of S$198.9 million was submitted by Changi Properties and Heeton Homes. This translates to around S$4,109 psm on the gross floor area (GFA).
This was followed by a S$198 million offer from Verwood Holdings and TID Residential. The lowest bid came from Sim Lian Land at S$93.8 million.
The 99-year leasehold site was launched for sale on 31 October 2013 and has a land area of 17,284.8 sq m and a maximum GFA of 48,397.44 sq m.
According to the housing board, it could generate 485 residential units.
A decision on the award of the tender will be made after all the bids have been evaluated.**
http://www.hdb.gov.sg/fi10/fi10296p.nsf/...enDocument
The previous EC bids, Sing Holdings participated without success. With the new EC measures, seems like Sing Holdings is not bidding for EC atm.
(08-01-2014, 08:45 AM)Behappyalways Wrote: [ -> ]The previous EC bids, Sing Holdings participated without success. With the new EC measures, seems like Sing Holdings is not bidding for EC atm.
Might be a blessing that sing holdings did not win those bids. Many bids have been way too high that seems to be without accounting for the turbulent property market to come. Smaller players will definitely suffer if property prices plummet.
Good morning every1.
FYI...hse 47 & 78 r the regular sellers for the past few days
<vested><not a call to buy or sell>
Yes they are trying to sell down with only a few lots hoping that someone will sell down or kanna margin call. They will buy back. The problem is there are few buyers and the minority shareholders like me are unhappy with the share performance for after so mamy years the goodwill towards the mgmt has been almost fully utilized. Hence not many buyers and it is so easy to make the stock price plunges. Well you cannot fault the minority shareholders for after so many years what they can see is higher management remuneration while share price stagnates
Hi Behappyalways san
I think the 1lot or 2lot sell down by them r not hoping someone will sell down or kena margin call. They r 'determined' not let the px go above 40cts?
why would they want to prevent that?