: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: Pasir Ris Central, an integrated development in Pasir Ris
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THE Housing & Development Board (HDB) has awarded a white site next to Pasir Ris MRT Station to Phoenix Residential Pte Ltd and Phoenix Commercial Pte Ltd. Both companies are owned by a joint venture between Allgreen Properties and Kerry Properties - the two companies are part of the Kuok Group of Companies controlled by Malaysian tycoon Robert Kuok.

Their winning bid is nearly S$700 million, which works out to S$684.48 per square foot per plot ratio (psf ppr) based on the total gross floor area of 1.02 million sq ft. Pasir Ris Central will become a unique home curated with lifestyle convenience including retail, bus interchange, polyclinic, childcare centre and a town plaza with heritage garden. Once it’s completed, it will become a community focal point for Pasir Ris residents.

The estimated breakeven price is around $1,176 psf. Pasir Ris Central price may range from $1500 psf onwards.