Feb 8, 2010
PUBLIC HOUSING
Room for pragmatism
THE public reaction to rising prices of HDB flats appears to be largely prompted by young, middle class couples in the sandwich class, usually snagged by the $8,000 income ceiling.
They expect their first home to be first-rate, are unwilling to live in the new, outer suburbs, dislike lower floors and expect to get their flat immediately.
I hold a different view. Buyers who qualify to buy directly from the HDB should not take issue with the waiting period for build-to-order (BTO) flats. These flats are subsidised and not bought in the open market.
Buyers should also be open to buying flats in the outer suburbs.
It is not unusual for the price of inner-city housing to escalate as a city prospers. New buyers will just have to live farther away.
Successful buyers also reject flats on the lower floors during balloting for the sale of the balance flats. If they choose to do so, it is only fair that they queue up for the BTO scheme which means a longer waiting period.
Either that, or buy resale, which is dearer. Rather than complain about the high cash premiums, perhaps young couples should realise they must start saving from their first day of work if they wish to have their dream flat.
The Government should not be held accountable if a buyer wishes to have a more desirable flat but does not have enough Central Provident Fund savings.
It is also unreasonable to impose more restrictions on permanent residents (PRs) who buy resale flats. PRs already face more restrictions than citizens in buying public flats.
Allowing PRs to buy flats, and sell them after a regulated period in the open market, will give them a stake here and help Singapore grow.
The Government should come down hard on people who buy flats to rent them out illegally. Despite the rules, many flats are still wholly rented out via the loophole of a locked master bedroom. Perhaps the best way to stop this practice is to reward whistle-blowers.
Finally, as 86 per cent of the population are HDB flat owners, it is actually not a bad idea for the prices of HDB flats to appreciate.
Ng Kwong Yee
Monday, February 8, 2010
ST : More caught running illegal dorms
Feb 8, 2010
More caught running illegal dorms
Private homes illegally converted to house foreign workers
By Melissa Sim & Mou Zongxiao
MORE people were taken to task last year for illegally converting their private homes into dormitories, hostels and boarding houses as accommodation for foreign workers and students.
The Urban Redevelopment Authority (URA) investigated about 700 private residential properties and is still forcing boarders to vacate the premises of 140 owners. Overcrowding is common, making safety an issue.
The other 560 owners have since stopped taking in lodgers illegally.
In 2008, the URA investigated just 400 cases.
In particular, there was an 18 per cent increase in the number of unauthorised worker dormitories over the previous year, though figures were not available.
The illegal dormitories are being exposed as more people write in to the URA with their complaints, and tip-offs are provided by the public and other government agencies.
The URA said that private apartments and landed homes are meant for residential use and should not be converted into workers' dormitories, which need permission to operate.
Under the Planning Act, illegal conversion of premises can result in a maximum fine of $200,000 and a year in jail. If the offence continues after conviction, a fine of $10,000 a day may be imposed.
Despite URA efforts, checks by The Straits Times showed that illegal workers' dormitories are still prevalent, especially in Little India and Tiong Bahru.
Along Marne Road off Petain Road, The Straits Times found at least two terrace houses housing more than 10 workers each.
In Tiong Bahru, there were at least three such apartments. In other units, there were workers from China and Malaysia who refused entry to The Straits Times. But shoes outside the main door and the drying laundry were signs of the multiple occupants inside.
At three units, occupants said there were eight people living inside. One said the boss had obtained the flat for them.
One landlord, who wanted to be known only as Ms Huang, said she had rented her three-room unit in Kai Fook Mansion in Tiong Bahru Road to eight Malaysians at $1,700 a month.
She said she had nine tenants at first but was told by the URA in December that she could have only eight. Ms Huang said she had not made modifications to her flat.
Private homes as ad hoc accommodation have sprung up over the last few years because of a shortage of dormitories and boarding houses.
A single worker renting a room in one of these converted homes pays about $200 compared with $160 to $180 each month for a workers' dorm in Jurong.
In the middle of last year, the URA found that 140 units in Grangeford condominium in Leonie Hill had been subdivided into 600 units. The developer was taken to action to recover the units.
The Ministry of Manpower warned employers of foreign workers that they are responsible for the well-being of their workers, including providing acceptable accommodation while they are employed.
Employers who fail to provide acceptable accommodation for their foreign workers are in breach of the work permit conditions and may be fined up to $5,000 and jailed up to six months. Such employers could also be barred from hiring foreign workers in future.
Tiong Bahru residents interviewed said they were fine with foreign workers in their midst, but were concerned about the overcrowding in the walk-up apartments, which are about 800 sq ft to 1,000 sq ft and usually have two or three bedrooms.
Interior designer Jo Turner, 31, claimed that her ceiling sprang a leak because there were 10 workers sharing a toilet in the flat above hers.
Ms Turner, like advertising executive Eugene Yip, 38, was mostly worried about the workers cooking over an open flame. About a month and a half ago, unit 1P in Yong Siak Street, housing Chinese national workers, caught fire.
The Singapore Civil Defence Force said the fire was accidental and from an electrical source. This could have been caused by a short circuit or overloading of power outlets.
More caught running illegal dorms
Private homes illegally converted to house foreign workers
By Melissa Sim & Mou Zongxiao
MORE people were taken to task last year for illegally converting their private homes into dormitories, hostels and boarding houses as accommodation for foreign workers and students.
The Urban Redevelopment Authority (URA) investigated about 700 private residential properties and is still forcing boarders to vacate the premises of 140 owners. Overcrowding is common, making safety an issue.
The other 560 owners have since stopped taking in lodgers illegally.
In 2008, the URA investigated just 400 cases.
In particular, there was an 18 per cent increase in the number of unauthorised worker dormitories over the previous year, though figures were not available.
The illegal dormitories are being exposed as more people write in to the URA with their complaints, and tip-offs are provided by the public and other government agencies.
The URA said that private apartments and landed homes are meant for residential use and should not be converted into workers' dormitories, which need permission to operate.
Under the Planning Act, illegal conversion of premises can result in a maximum fine of $200,000 and a year in jail. If the offence continues after conviction, a fine of $10,000 a day may be imposed.
Despite URA efforts, checks by The Straits Times showed that illegal workers' dormitories are still prevalent, especially in Little India and Tiong Bahru.
Along Marne Road off Petain Road, The Straits Times found at least two terrace houses housing more than 10 workers each.
In Tiong Bahru, there were at least three such apartments. In other units, there were workers from China and Malaysia who refused entry to The Straits Times. But shoes outside the main door and the drying laundry were signs of the multiple occupants inside.
At three units, occupants said there were eight people living inside. One said the boss had obtained the flat for them.
One landlord, who wanted to be known only as Ms Huang, said she had rented her three-room unit in Kai Fook Mansion in Tiong Bahru Road to eight Malaysians at $1,700 a month.
She said she had nine tenants at first but was told by the URA in December that she could have only eight. Ms Huang said she had not made modifications to her flat.
Private homes as ad hoc accommodation have sprung up over the last few years because of a shortage of dormitories and boarding houses.
A single worker renting a room in one of these converted homes pays about $200 compared with $160 to $180 each month for a workers' dorm in Jurong.
In the middle of last year, the URA found that 140 units in Grangeford condominium in Leonie Hill had been subdivided into 600 units. The developer was taken to action to recover the units.
The Ministry of Manpower warned employers of foreign workers that they are responsible for the well-being of their workers, including providing acceptable accommodation while they are employed.
Employers who fail to provide acceptable accommodation for their foreign workers are in breach of the work permit conditions and may be fined up to $5,000 and jailed up to six months. Such employers could also be barred from hiring foreign workers in future.
Tiong Bahru residents interviewed said they were fine with foreign workers in their midst, but were concerned about the overcrowding in the walk-up apartments, which are about 800 sq ft to 1,000 sq ft and usually have two or three bedrooms.
Interior designer Jo Turner, 31, claimed that her ceiling sprang a leak because there were 10 workers sharing a toilet in the flat above hers.
Ms Turner, like advertising executive Eugene Yip, 38, was mostly worried about the workers cooking over an open flame. About a month and a half ago, unit 1P in Yong Siak Street, housing Chinese national workers, caught fire.
The Singapore Civil Defence Force said the fire was accidental and from an electrical source. This could have been caused by a short circuit or overloading of power outlets.
ST : No floor indicators: Bid 'to save costs'
Feb 8, 2010
No floor indicators: Bid 'to save costs'
THE Housing Board's initial plan to leave out floor-indicator panels for its Lift Upgrading Programme (LUP) was neither 'deliberate' nor 'witting'.
Rather, it was a cost-saving measure by the HDB which ended up taking away 'one of the features that people wanted', said Minister in the Prime Minister's Office Lim Hwee Hua.
She made the remarks on the sidelines of a block party in Serangoon Avenue 2 yesterday where she also announced that seven blocks in the precinct were selected for the LUP.
Said Mrs Lim, who is also Second Minister for Finance and Transport:
'I think lift upgrading is a massive countrywide programme, so it is a question of you taking feedback and you improve it as you go along... So I think it's learning as we go along.'
The Straits Times reported last week that the HDB had reversed its decision to leave out electronic floor-indicator display panels in the LUP.
The lift landings were fitted only with displays that showed arrows pointing upwards or downwards that would light up just before a lift arrived.
Residents in Bedok North had earlier complained that they were not happy with their upgraded lifts because of the missing floor indicators. Without floor indicators, they would not know if the lift had broken down, they said.
With the reversal, about 200 blocks islandwide which had undergone upgrading will be retrofitted.
CAROLYN QUEK
No floor indicators: Bid 'to save costs'
THE Housing Board's initial plan to leave out floor-indicator panels for its Lift Upgrading Programme (LUP) was neither 'deliberate' nor 'witting'.
Rather, it was a cost-saving measure by the HDB which ended up taking away 'one of the features that people wanted', said Minister in the Prime Minister's Office Lim Hwee Hua.
She made the remarks on the sidelines of a block party in Serangoon Avenue 2 yesterday where she also announced that seven blocks in the precinct were selected for the LUP.
Said Mrs Lim, who is also Second Minister for Finance and Transport:
'I think lift upgrading is a massive countrywide programme, so it is a question of you taking feedback and you improve it as you go along... So I think it's learning as we go along.'
The Straits Times reported last week that the HDB had reversed its decision to leave out electronic floor-indicator display panels in the LUP.
The lift landings were fitted only with displays that showed arrows pointing upwards or downwards that would light up just before a lift arrived.
Residents in Bedok North had earlier complained that they were not happy with their upgraded lifts because of the missing floor indicators. Without floor indicators, they would not know if the lift had broken down, they said.
With the reversal, about 200 blocks islandwide which had undergone upgrading will be retrofitted.
CAROLYN QUEK
ST : Tuas mega port: Experts back idea
Feb 7, 2010
Tuas mega port: Experts back idea
By Shuli Sudderuddin
Yes, go west and make Tuas the new mega port, if a proposal to free the Tanjong Pagar port area for a waterfront makeover gets the green light, experts suggest.
Although the lease at Tanjong Pagar, Keppel and Pulau Brani terminals ends only in 2027, it was a proposal by the Economic Strategies Committee (ESC) last week that sparked the buzz among shipping and property analysts.
The ESC had mooted turning Tanjong Pagar into a new waterfront development. It also called for a study on the long-term possibility of consolidating current port facilities at Tuas into a mega container port.
The Tanjong Pagar port area currently boasts an area of 85ha and a quay length of 2.3km.
The Maritime and Port Authority of Singapore (MPA) said that under the Government's Concept Plan review, it will assess the feasibility of a consolidated mega port.
The MPA will take into account its need to achieve best-in-class efficiency and sustain Singapore's long-term competitiveness.
Mr Ho Eng Joo, executive director of investment sales for real estate consultancy Colliers International, said giving the go-ahead would be good both for the Tanjong Pagar and Tuas areas.
He said: 'With its good location and easy access to Raffles Place and Shenton Way, Tanjong Pagar will be a very exciting waterfront and developers will be interested in it.
'Tuas, mostly industrial, will have the complementary infrastructure for a port.'
Mr Karamjit Singh, managing director of Credo Real Estate, said it makes sense to relocate the port as it is unproductive to have it so close to the heart of town as the land could be better used.
'Tanjong Pagar will be of interest to developers and investors alike,' he added.
Dr Thomas Menkhoff, practice associate professor of organisational behaviour and human resources at the Singapore Management University's Lee Kong Chian School of Business, said many ports elsewhere have moved because they were no longer competitive at their original location or because of 'strategic common sense'.
Citing the German city of Bremerhaven, he said its new riverside quay on the mouth of the River Weser enhanced the competitiveness of the city's port.
Associate Professor (Practice) Tan Kok Choon from the department of decision sciences at the National University of Singapore Business School, said Singapore's main container traffic is now distributed over two locations: Tanjong Pagar and Pasir Panjang.
He agreed that if all container traffic could be concentrated at one place, efficiency and utilisation will go up.
Prof Tan said the new port must have such capabilities as turning around container vessels fast and getting vessels to berth quickly on arrival.
'As Singapore's container volume continues to grow beyond 2027 to become a super mega trans-shipment hub, the new location should be large enough to cater to more container vessels calling at Singapore,' he said.
He added that given Singapore's geography, the new port will most likely have to be along the southern coast, which leaves Tuas as the ideal choice since Changi Airport is in the east.
Dr Menkhoff said: 'The Jurong Island project and the successful extension of the Tuas Peninsula over the last few years show that the western area has what it takes to have new port facilities.
'However, concerns might include balancing development needs and protecting marine life as the waters around Tuas contain dozens of marine species.'
At least one shipping line is keen to see such a move.
Mr Teo Siong Seng, president of the Singapore Shipping Association and managing director of Pacific International Lines, said most of the container goods movement is towards factories in Tuas.
'So a port in Tuas would save on road transport greatly. It's a good plan and we definitely welcome it.'
Tuas mega port: Experts back idea
By Shuli Sudderuddin
Yes, go west and make Tuas the new mega port, if a proposal to free the Tanjong Pagar port area for a waterfront makeover gets the green light, experts suggest.
Although the lease at Tanjong Pagar, Keppel and Pulau Brani terminals ends only in 2027, it was a proposal by the Economic Strategies Committee (ESC) last week that sparked the buzz among shipping and property analysts.
The ESC had mooted turning Tanjong Pagar into a new waterfront development. It also called for a study on the long-term possibility of consolidating current port facilities at Tuas into a mega container port.
The Tanjong Pagar port area currently boasts an area of 85ha and a quay length of 2.3km.
The Maritime and Port Authority of Singapore (MPA) said that under the Government's Concept Plan review, it will assess the feasibility of a consolidated mega port.
The MPA will take into account its need to achieve best-in-class efficiency and sustain Singapore's long-term competitiveness.
Mr Ho Eng Joo, executive director of investment sales for real estate consultancy Colliers International, said giving the go-ahead would be good both for the Tanjong Pagar and Tuas areas.
He said: 'With its good location and easy access to Raffles Place and Shenton Way, Tanjong Pagar will be a very exciting waterfront and developers will be interested in it.
'Tuas, mostly industrial, will have the complementary infrastructure for a port.'
Mr Karamjit Singh, managing director of Credo Real Estate, said it makes sense to relocate the port as it is unproductive to have it so close to the heart of town as the land could be better used.
'Tanjong Pagar will be of interest to developers and investors alike,' he added.
Dr Thomas Menkhoff, practice associate professor of organisational behaviour and human resources at the Singapore Management University's Lee Kong Chian School of Business, said many ports elsewhere have moved because they were no longer competitive at their original location or because of 'strategic common sense'.
Citing the German city of Bremerhaven, he said its new riverside quay on the mouth of the River Weser enhanced the competitiveness of the city's port.
Associate Professor (Practice) Tan Kok Choon from the department of decision sciences at the National University of Singapore Business School, said Singapore's main container traffic is now distributed over two locations: Tanjong Pagar and Pasir Panjang.
He agreed that if all container traffic could be concentrated at one place, efficiency and utilisation will go up.
Prof Tan said the new port must have such capabilities as turning around container vessels fast and getting vessels to berth quickly on arrival.
'As Singapore's container volume continues to grow beyond 2027 to become a super mega trans-shipment hub, the new location should be large enough to cater to more container vessels calling at Singapore,' he said.
He added that given Singapore's geography, the new port will most likely have to be along the southern coast, which leaves Tuas as the ideal choice since Changi Airport is in the east.
Dr Menkhoff said: 'The Jurong Island project and the successful extension of the Tuas Peninsula over the last few years show that the western area has what it takes to have new port facilities.
'However, concerns might include balancing development needs and protecting marine life as the waters around Tuas contain dozens of marine species.'
At least one shipping line is keen to see such a move.
Mr Teo Siong Seng, president of the Singapore Shipping Association and managing director of Pacific International Lines, said most of the container goods movement is towards factories in Tuas.
'So a port in Tuas would save on road transport greatly. It's a good plan and we definitely welcome it.'
ST : Collective-sale fervour returning
Feb 7, 2010
Collective-sale fervour returning
More estates forming committees to start or re-start process
By Joyce Teo
Consultants say many keen estates currently are those that had tried to sell en bloc but failed in the previous peak in 2007, such as Pender Court. -- ST FILE PHOTO
Last Wednesday, Credo Real Estate sealed the first collective sale of the year.
Four owners of a Balestier industrial plot benefited when they sold their Jalan Ampas site - which can be converted into residential use - for $27.5 million.
More such deals are likely to be inked this year, after a dry year when just one collective sale was done. That was Block 18 of Dragon Mansion, completed in early December.
But the success rate will depend a lot on the market and owners' expectations, consultants said.
Already, property consultants say many owners are again placing their hopes on hitting the collective-sale jackpot, in line with the improved property market and brighter economic outlook.
'More estates are now forming sales committees to either start the sale process or re-start the process for those that had not been transacted successfully previously,' said CKS Property Consultants' investment manager Chia Mein Mein.
An industry observer pointed out that most developers are running out of land for mass market projects, so they are very keen to buy.
'But prime land is another story. They still have quite a lot of it.'
Credo Real Estate's deputy managing director Tan Hong Boon said: 'We should see more activities towards the end of this year as many owners are keen to start the collective-sale process now.'
With more inquiries coming in, property consultants are busy pitching for jobs.
Many keen estates are those that had tried to sell en bloc but failed in the previous peak in 2007, the consultants said.
These include Pender Court off West Coast Highway, Royalville in Bukit Timah and Hawaii Tower in Meyer Road.
Collective-sale launches so far this year include the 11-unit Holland Hill Lodge, which was put up for sale en bloc last month at an indicative price range of $15 million to $16 million, or $1,038 to $1,107 per sq ft per plot ratio.
More launches can be expected from the second quarter, said Mr Tan.
A total of 116 collective sales were done at the peak of the property boom of 2007.
This figure slipped to only eight in 2008 amid the global financial crisis.
This year, there will certainly be more sales, consultants predict. However, some owners of prime or mid-end projects continue to hope for prices that are above the previous peak, they said.
Now that resale prices are moving up, more people are worried that they cannot get a similar replacement property, explained a consultant who declined to be named.
Still, the problem is the gap between buyers and sellers' expectations.
'There's still a great mismatch in prices. Developers are quite cautious,' he said.
joyceteo@sph.com.sg
Collective-sale fervour returning
More estates forming committees to start or re-start process
By Joyce Teo
Consultants say many keen estates currently are those that had tried to sell en bloc but failed in the previous peak in 2007, such as Pender Court. -- ST FILE PHOTO
Last Wednesday, Credo Real Estate sealed the first collective sale of the year.
Four owners of a Balestier industrial plot benefited when they sold their Jalan Ampas site - which can be converted into residential use - for $27.5 million.
More such deals are likely to be inked this year, after a dry year when just one collective sale was done. That was Block 18 of Dragon Mansion, completed in early December.
But the success rate will depend a lot on the market and owners' expectations, consultants said.
Already, property consultants say many owners are again placing their hopes on hitting the collective-sale jackpot, in line with the improved property market and brighter economic outlook.
'More estates are now forming sales committees to either start the sale process or re-start the process for those that had not been transacted successfully previously,' said CKS Property Consultants' investment manager Chia Mein Mein.
An industry observer pointed out that most developers are running out of land for mass market projects, so they are very keen to buy.
'But prime land is another story. They still have quite a lot of it.'
Credo Real Estate's deputy managing director Tan Hong Boon said: 'We should see more activities towards the end of this year as many owners are keen to start the collective-sale process now.'
With more inquiries coming in, property consultants are busy pitching for jobs.
Many keen estates are those that had tried to sell en bloc but failed in the previous peak in 2007, the consultants said.
These include Pender Court off West Coast Highway, Royalville in Bukit Timah and Hawaii Tower in Meyer Road.
Collective-sale launches so far this year include the 11-unit Holland Hill Lodge, which was put up for sale en bloc last month at an indicative price range of $15 million to $16 million, or $1,038 to $1,107 per sq ft per plot ratio.
More launches can be expected from the second quarter, said Mr Tan.
A total of 116 collective sales were done at the peak of the property boom of 2007.
This figure slipped to only eight in 2008 amid the global financial crisis.
This year, there will certainly be more sales, consultants predict. However, some owners of prime or mid-end projects continue to hope for prices that are above the previous peak, they said.
Now that resale prices are moving up, more people are worried that they cannot get a similar replacement property, explained a consultant who declined to be named.
Still, the problem is the gap between buyers and sellers' expectations.
'There's still a great mismatch in prices. Developers are quite cautious,' he said.
joyceteo@sph.com.sg
ST Letters : Single PR can't buy resale HDB flat
Feb 7, 2010
YOUR LETTERS
Single PR can't buy resale HDB flat
I refer to last Sunday's sidebar, 'What properties can PRs buy?', alongside the article on what permanent residents look for when buying resale flats ('When PRs buy HDB resale flats, key considerations are cost, location').
The sidebar stated that 'PRs are allowed to buy resale HDB flats - but not new flats - without housing and mortgage subsidies'.
This is not entirely true.
Single Singaporeans over the age of 35 are allowed to buy resale HDB flats, but a single PR cannot do so.
I have appealed against this ruling for the last year or so, but have been unsuccessful.
I am nearly 59 and divorced, but am contributing to Singapore by teaching English and creative writing. I was born and raised in Singapore and was a citizen.
Nearly 30 years ago, I married an Englishman, and later took up British citizenship. I did so not because I was disloyal to Singapore, but because Singapore did not permit dual citizenship.
Five years ago, I divorced my husband. I have two sons who have served national service and retained their Singapore citizenship. They now live here.
I decided to come back to Singapore to live when my grandchildren were born. My sons managed to help me get PR status here.
I applied for an HDB flat as I could not afford a private apartment. I went to see the Housing Board, but my application was rejected. This year, I made an appeal and it was rejected too. So I have to stay with my family when I am in Singapore.
I understand the need for stringent housing rules so that people do not abuse the system, but I feel that some cases have to be reviewed with humanity.
Josephine Chia (Ms)
YOUR LETTERS
Single PR can't buy resale HDB flat
I refer to last Sunday's sidebar, 'What properties can PRs buy?', alongside the article on what permanent residents look for when buying resale flats ('When PRs buy HDB resale flats, key considerations are cost, location').
The sidebar stated that 'PRs are allowed to buy resale HDB flats - but not new flats - without housing and mortgage subsidies'.
This is not entirely true.
Single Singaporeans over the age of 35 are allowed to buy resale HDB flats, but a single PR cannot do so.
I have appealed against this ruling for the last year or so, but have been unsuccessful.
I am nearly 59 and divorced, but am contributing to Singapore by teaching English and creative writing. I was born and raised in Singapore and was a citizen.
Nearly 30 years ago, I married an Englishman, and later took up British citizenship. I did so not because I was disloyal to Singapore, but because Singapore did not permit dual citizenship.
Five years ago, I divorced my husband. I have two sons who have served national service and retained their Singapore citizenship. They now live here.
I decided to come back to Singapore to live when my grandchildren were born. My sons managed to help me get PR status here.
I applied for an HDB flat as I could not afford a private apartment. I went to see the Housing Board, but my application was rejected. This year, I made an appeal and it was rejected too. So I have to stay with my family when I am in Singapore.
I understand the need for stringent housing rules so that people do not abuse the system, but I feel that some cases have to be reviewed with humanity.
Josephine Chia (Ms)
ST : Rental disputes on the rise
Feb 7, 2010
Rental disputes on the rise
More tenants have been filing claims against landlords over contract issues
By Teh Joo Lin
Mr Ashirafur, 37, and his wife Hushne ana Bagum, 30, in a room at a friend's flat. They were forced to leave their rental flat in Yishun last week. -- PHOTO: CAROLINE CHIA
Vacate the flat at once, project supervisor Ashirafur Rahaman Khan said he was told by a group of six people just before midnight.
It happened more than a week ago, the 37-year-old said. He was with his wife in their rented flat's corridor in Yishun Street 81.
His wife, eight months pregnant and who had recently flown in from Bangladesh, was exercising in the corridor.
The group of six men and women who confronted the couple included the landlord and his son.
'One of the men said I didn't pay my rent, so I had to move out. But I had already paid for the month and even gave some advance payment,' said the permanent resident, who rented the flat for $1,400 a month with a fellow tenant who was not present during the encounter.
Part of the group then entered the flat, saying they were removing the furniture.
Seeing his wife agitated, Mr Ashirafur then agreed to leave. 'I said, 'Don't touch the furniture. We'll move it ourselves',' he said.
So in the wee hours of the morning, the flat's occupants scrambled to find lodging with friends, Mr Ashirafur said.
When contacted, the landlord's son, who did not give his name, said it was his father who had decided on the course of action.
But he said: 'Let's say you rented a house. If anyone else comes (to stay), the owner should be informed.'
Mr Ashirafur told The Sunday Times his wife and his sister had flown in from Bangladesh. His sister had come along to take care of her.
He said his next move is to go to the Small Claims Tribunal, taking along his tenancy agreement, which states that one month's notice is required for a mutually agreed termination of tenancy.
In recent years, more tenants - and to a lesser extent, landlords - have approached the tribunal for help to settle rental disputes.
This increase took place after it extended its jurisdiction in February 2006 to include disagreements on contracts for homes rented out for two years or less.
The tribunal was set up in 1985 to resolve small claims between consumers and suppliers.
Last year, 1,349 rental disagreement claims were lodged, more than three times the 401 claims filed in 2006. In 2008, 1,137 claims were lodged.
The majority of such claims - 84 per cent of last year's cases, for example - are filed by tenants, statistics from the Subordinate Courts showed.
Prior to 2006, such aggrieved parties settled disputes such as unpaid rents or leaky ceilings between themselves or through the courts - a time-consuming and usually expensive process.
The Small Claims Tribunal handles cases involving sums of up to $10,000, though this limit can be raised to $20,000 if the parties agree.
Once a claim is lodged, the tribunal arranges a consultation before a registrar who will mediate the claim. The case goes to a hearing if there is no settlement during the meeting.
The time taken to resolve a claim depends on the nature and circumstances of each case, said the Subordinate Courts' spokesman.
From the date of filing to the first consultation, the waiting period is usually between 10 and 14 days. From the final consultation to the hearing, the waiting period is usually within 10 working days.
When contacted, a Housing Board spokesman said it advises flat owners and tenants to settle their differences amicably when disputes come to its attention.
'HDB will usually advise the complainant to lodge a claim with the Small Claims Tribunal. If mediation is not an option, the complainant may choose to take a private suit against the other party,' she said.
The spokesman added that common disputes included issues over payment of rental, forfeiture of deposits and the termination of tenancies without sufficient notice.
Various types of rental disputes have hit the news in the past several years. At times, tenants returned to their flats only to find the locks changed.
Landlords have also suffered. When the economy dipped last year, tenants reportedly skipped town without paying the rent. They left the keys in the flats' letterboxes.
'Nowadays, such cases are common. Why? Because the tenant can't afford to pay, or the landlord has some reasons to get back his place and finds an excuse,' said Mr Andrew Tan, a senior division director from real estate agency Dennis Wee Group.
Rental agents who spoke to The Sunday Times said tenants and landlords should exercise due diligence and abide by proper tenancy procedures - to protect themselves if a dispute arises.
For example, tenants should ensure that their landlords are the actual owners of the flats and have approval to rent the units out. Landlords, on their part, should check their tenants' particulars.
Proper tenancy agreements should be drawn up, setting out detailed terms and conditions. Stamp duty has to be paid too.
'If everything is done in the right manner, the tenant should have no fear at all,' said Mr Richard Sim, an agent with real estate agency ERA.
Mr Tan also advised tenants to pay the monthly rental using bank transfers, so 'there's a record'.
'It's not advisable to pay cash. Even if you had written a receipt, the owner can say he didn't sign it,' he said.
Above all, said ERA agent Paul Ravie, tenants and landlords must honour the tenancy agreement.
'This is an important document, but many people don't really take it as a serious, binding contract,' he said, adding that agents must take care to explain the terms to both parties ahead of the signing.
joolin@sph.com.sg
--------------------------------------------------------------------------------
How to make a small claim
· Before lodging a claim, the claimant should ensure he has the correct name and address of the person he intends to make the claim against. He may also wish to ensure that the party he is claiming against is not a bankrupt.
· Where possible, mediation should be attempted before going to the tribunal. Both the claimant and the other party might try to resolve the matter themselves, or approach agencies such as the Community Mediation Centre.
· All claims must be lodged within one year. To lodge a claim, apart from submitting copies of the claim form, the claimant must submit a copy of the tenancy agreement and any other supporting written documents.
· It costs a tenant $10 to lodge a claim of up to $5,000, and $20 if the claim is more than $5,000 and up to $10,000. For a landlord, the amounts are $50 and $100 respectively.
Teh Joo Lin
For more information, see www.smallclaims.gov.sg
Rental disputes on the rise
More tenants have been filing claims against landlords over contract issues
By Teh Joo Lin
Mr Ashirafur, 37, and his wife Hushne ana Bagum, 30, in a room at a friend's flat. They were forced to leave their rental flat in Yishun last week. -- PHOTO: CAROLINE CHIA
Vacate the flat at once, project supervisor Ashirafur Rahaman Khan said he was told by a group of six people just before midnight.
It happened more than a week ago, the 37-year-old said. He was with his wife in their rented flat's corridor in Yishun Street 81.
His wife, eight months pregnant and who had recently flown in from Bangladesh, was exercising in the corridor.
The group of six men and women who confronted the couple included the landlord and his son.
'One of the men said I didn't pay my rent, so I had to move out. But I had already paid for the month and even gave some advance payment,' said the permanent resident, who rented the flat for $1,400 a month with a fellow tenant who was not present during the encounter.
Part of the group then entered the flat, saying they were removing the furniture.
Seeing his wife agitated, Mr Ashirafur then agreed to leave. 'I said, 'Don't touch the furniture. We'll move it ourselves',' he said.
So in the wee hours of the morning, the flat's occupants scrambled to find lodging with friends, Mr Ashirafur said.
When contacted, the landlord's son, who did not give his name, said it was his father who had decided on the course of action.
But he said: 'Let's say you rented a house. If anyone else comes (to stay), the owner should be informed.'
Mr Ashirafur told The Sunday Times his wife and his sister had flown in from Bangladesh. His sister had come along to take care of her.
He said his next move is to go to the Small Claims Tribunal, taking along his tenancy agreement, which states that one month's notice is required for a mutually agreed termination of tenancy.
In recent years, more tenants - and to a lesser extent, landlords - have approached the tribunal for help to settle rental disputes.
This increase took place after it extended its jurisdiction in February 2006 to include disagreements on contracts for homes rented out for two years or less.
The tribunal was set up in 1985 to resolve small claims between consumers and suppliers.
Last year, 1,349 rental disagreement claims were lodged, more than three times the 401 claims filed in 2006. In 2008, 1,137 claims were lodged.
The majority of such claims - 84 per cent of last year's cases, for example - are filed by tenants, statistics from the Subordinate Courts showed.
Prior to 2006, such aggrieved parties settled disputes such as unpaid rents or leaky ceilings between themselves or through the courts - a time-consuming and usually expensive process.
The Small Claims Tribunal handles cases involving sums of up to $10,000, though this limit can be raised to $20,000 if the parties agree.
Once a claim is lodged, the tribunal arranges a consultation before a registrar who will mediate the claim. The case goes to a hearing if there is no settlement during the meeting.
The time taken to resolve a claim depends on the nature and circumstances of each case, said the Subordinate Courts' spokesman.
From the date of filing to the first consultation, the waiting period is usually between 10 and 14 days. From the final consultation to the hearing, the waiting period is usually within 10 working days.
When contacted, a Housing Board spokesman said it advises flat owners and tenants to settle their differences amicably when disputes come to its attention.
'HDB will usually advise the complainant to lodge a claim with the Small Claims Tribunal. If mediation is not an option, the complainant may choose to take a private suit against the other party,' she said.
The spokesman added that common disputes included issues over payment of rental, forfeiture of deposits and the termination of tenancies without sufficient notice.
Various types of rental disputes have hit the news in the past several years. At times, tenants returned to their flats only to find the locks changed.
Landlords have also suffered. When the economy dipped last year, tenants reportedly skipped town without paying the rent. They left the keys in the flats' letterboxes.
'Nowadays, such cases are common. Why? Because the tenant can't afford to pay, or the landlord has some reasons to get back his place and finds an excuse,' said Mr Andrew Tan, a senior division director from real estate agency Dennis Wee Group.
Rental agents who spoke to The Sunday Times said tenants and landlords should exercise due diligence and abide by proper tenancy procedures - to protect themselves if a dispute arises.
For example, tenants should ensure that their landlords are the actual owners of the flats and have approval to rent the units out. Landlords, on their part, should check their tenants' particulars.
Proper tenancy agreements should be drawn up, setting out detailed terms and conditions. Stamp duty has to be paid too.
'If everything is done in the right manner, the tenant should have no fear at all,' said Mr Richard Sim, an agent with real estate agency ERA.
Mr Tan also advised tenants to pay the monthly rental using bank transfers, so 'there's a record'.
'It's not advisable to pay cash. Even if you had written a receipt, the owner can say he didn't sign it,' he said.
Above all, said ERA agent Paul Ravie, tenants and landlords must honour the tenancy agreement.
'This is an important document, but many people don't really take it as a serious, binding contract,' he said, adding that agents must take care to explain the terms to both parties ahead of the signing.
joolin@sph.com.sg
--------------------------------------------------------------------------------
How to make a small claim
· Before lodging a claim, the claimant should ensure he has the correct name and address of the person he intends to make the claim against. He may also wish to ensure that the party he is claiming against is not a bankrupt.
· Where possible, mediation should be attempted before going to the tribunal. Both the claimant and the other party might try to resolve the matter themselves, or approach agencies such as the Community Mediation Centre.
· All claims must be lodged within one year. To lodge a claim, apart from submitting copies of the claim form, the claimant must submit a copy of the tenancy agreement and any other supporting written documents.
· It costs a tenant $10 to lodge a claim of up to $5,000, and $20 if the claim is more than $5,000 and up to $10,000. For a landlord, the amounts are $50 and $100 respectively.
Teh Joo Lin
For more information, see www.smallclaims.gov.sg
BT : Condos hit the sweet spot, even without a tennis court
Business Times - 06 Feb 2010
Condos hit the sweet spot, even without a tennis court
By EMILYN YAP
PAYING big money does not necessarily get you everything these days, at least when it comes to buying a private apartment.
New homes going for as much as $2,600 per square foot can offer designer furnishings and place you in a coveted district, but they may no longer come with large common spaces or even tennis courts traditionally associated with a private address.
In the core central region (CCR), home seekers would not find tennis courts in projects such as Marina Bay Suites, Sophia Residence and Illuminaire on Devonshire.
Further from town, buyers have paid as much as $1,345 psf at Alexis or $1,514 psf at Suites@Guillemard, where there is just a margin of space around the buildings, and swimming pools and gyms congregate on the rooftop. Tennis courts are also missing from the picture.
Nowadays, 'you don't really get developments with sprawling grounds, where there's openness', observes DTZ executive director Ong Choon Fah. 'Those are actually more difficult to come by.'
Many projects cannot offer large landscaped grounds or a full range of facilities simply because their sites are not big enough. A tennis court alone measures 78 ft by 36 ft, taking up 2,808 sq ft. According to EL Development managing director Lim Yew Soon, a developer could try to tuck a court just nicely into a smallish site, but it could become a 'disamenity' to residents living too close to the noise.
In fact, there are buyers who do not expect to see tennis courts for smaller projects within or near town, he adds. 'Even if they really see, they'll be asking if it will be too near their units.'
EL Development has three projects in CCR which do not have tennis courts - Illuminaire on Devonshire, Parc Centennial and Rhapsody on Mount Elizabeth - but they are sold out.
Many projects are still able to command high prices because of their location. This is especially so if owners intend to rent the apartments out.
The absence of a tennis court, for instance, may mean a longer search for a tenant but consultants say rents are unlikely to be dented much. 'That's about property investment. Location is everything,' says Savills residential director Phylicia Ang.
GuocoLand is banking on Sophia Residence's location near Dhoby Ghaut MRT station to attract buyers. The project does not have a tennis court, but home seekers' 'main buying criterion was to be in the city, to have easy MRT access to all parts of Singapore and also a property which offered attractive rental yield', it told BT. The development will be where Sophia Court used to be and the latter also did not have a tennis court.
Beyond site constraints, high land prices may be prompting developers to cut back on common spaces and certain facilities.
'With land costs so high, most developers want to maximise the saleable area,' says ERA Asia Pacific associate director Eugene Lim.
But that's not to say that all developers have free rein on the site design. The Urban Redevelopment Authority (URA) has rules on site coverage, which indicate how much space buildings can occupy.
For developments classified as flats/apartments and condominiums, site coverage cannot exceed 40 per cent. Mixed-use developments are the ones which are not subject to this rule.
Still, developers are careful to keep features which most residents cannot seem to do without, namely swimming pools and gyms. Faced with a smaller site, 'the priority is given to swimming pools', says DP Architects director Tai Lee Siang. But 'where possible, it is likely that developers will still want to incorporate tennis courts'.
As it becomes harder to find prime projects offering large ground spaces and complete facilities, existing developments with these features are likely to stand out. 'One of the reasons why Ardmore Park is so popular is because it has a beautiful landscaped garden, and the grounds are sprawling. You don't get many of these, these days,' says DTZ's Mrs Ong.
Condos hit the sweet spot, even without a tennis court
By EMILYN YAP
PAYING big money does not necessarily get you everything these days, at least when it comes to buying a private apartment.
New homes going for as much as $2,600 per square foot can offer designer furnishings and place you in a coveted district, but they may no longer come with large common spaces or even tennis courts traditionally associated with a private address.
In the core central region (CCR), home seekers would not find tennis courts in projects such as Marina Bay Suites, Sophia Residence and Illuminaire on Devonshire.
Further from town, buyers have paid as much as $1,345 psf at Alexis or $1,514 psf at Suites@Guillemard, where there is just a margin of space around the buildings, and swimming pools and gyms congregate on the rooftop. Tennis courts are also missing from the picture.
Nowadays, 'you don't really get developments with sprawling grounds, where there's openness', observes DTZ executive director Ong Choon Fah. 'Those are actually more difficult to come by.'
Many projects cannot offer large landscaped grounds or a full range of facilities simply because their sites are not big enough. A tennis court alone measures 78 ft by 36 ft, taking up 2,808 sq ft. According to EL Development managing director Lim Yew Soon, a developer could try to tuck a court just nicely into a smallish site, but it could become a 'disamenity' to residents living too close to the noise.
In fact, there are buyers who do not expect to see tennis courts for smaller projects within or near town, he adds. 'Even if they really see, they'll be asking if it will be too near their units.'
EL Development has three projects in CCR which do not have tennis courts - Illuminaire on Devonshire, Parc Centennial and Rhapsody on Mount Elizabeth - but they are sold out.
Many projects are still able to command high prices because of their location. This is especially so if owners intend to rent the apartments out.
The absence of a tennis court, for instance, may mean a longer search for a tenant but consultants say rents are unlikely to be dented much. 'That's about property investment. Location is everything,' says Savills residential director Phylicia Ang.
GuocoLand is banking on Sophia Residence's location near Dhoby Ghaut MRT station to attract buyers. The project does not have a tennis court, but home seekers' 'main buying criterion was to be in the city, to have easy MRT access to all parts of Singapore and also a property which offered attractive rental yield', it told BT. The development will be where Sophia Court used to be and the latter also did not have a tennis court.
Beyond site constraints, high land prices may be prompting developers to cut back on common spaces and certain facilities.
'With land costs so high, most developers want to maximise the saleable area,' says ERA Asia Pacific associate director Eugene Lim.
But that's not to say that all developers have free rein on the site design. The Urban Redevelopment Authority (URA) has rules on site coverage, which indicate how much space buildings can occupy.
For developments classified as flats/apartments and condominiums, site coverage cannot exceed 40 per cent. Mixed-use developments are the ones which are not subject to this rule.
Still, developers are careful to keep features which most residents cannot seem to do without, namely swimming pools and gyms. Faced with a smaller site, 'the priority is given to swimming pools', says DP Architects director Tai Lee Siang. But 'where possible, it is likely that developers will still want to incorporate tennis courts'.
As it becomes harder to find prime projects offering large ground spaces and complete facilities, existing developments with these features are likely to stand out. 'One of the reasons why Ardmore Park is so popular is because it has a beautiful landscaped garden, and the grounds are sprawling. You don't get many of these, these days,' says DTZ's Mrs Ong.
ST : Market recovery boosts 2 property developers
Feb 6, 2010
Market recovery boosts 2 property developers
By Jessica Cheam
Healthy sales for Guocoland's developments, including Elliot on the east coast (above), contributed to increased revenue for the property developer. -- PHOTO: GUOCOLAND
A BOOMING property market on the back of a broad if tentative economic recovery last year has boosted the results of two mainboard-listed developers.
Guocoland posted a net profit yesterday of $60.4 million in its second quarter ended Dec 31 last year - a dramatic jump from just $861,000 earned in the same quarter a year earlier.
Boosted by positive sentiment and strong property sales, Guocoland's revenue leapt 284 per cent to hit $363.7 million from the same period a year earlier.
Wing Tai Holdings posted a more modest 7 per cent rise in net profit to $22.3 million in its second quarter in the same three-month period. Revenue shot up 93 per cent to $177 million.
Guocoland said yesterday that its strong performance was mainly due to the strong sales of projects in China, especially Nanjing's Ascot Park.
China's property market has rallied in the recent year, in tandem with its growing economy. Asian markets have been leading a broad global recovery following the 2008 financial crisis.
For the half year ended Dec 31, Guocoland had a net profit of $72.8 million, reversing a net loss of $2 million in the same period a year ago. Revenue was also up 85 per cent to $459.4 million.
Closer to home, the group launched Sophia Residence in the Dhoby Ghaut area and Elliot on the east coast, which chalked up more than 90 per cent and 70 per cent sales respectively.
Earnings per share for the group were 7.27 cents for the second quarter, up from 0.1 cent previously. The group's net asset value was $2.32 as of Dec 31, compared to $2.37 as of June 30.
Brisk sales in Singapore's private residential market also gave Wing Tai's financial performance a lift.
The group said it sold more homes at its Belle Vue Residences at Oxley Walk and The Riverine by the Park at Kallang.
For the half year, its net profit rose 28 per cent to $68.7 million, while revenue rose 101 per cent to $454.3 million.
Earnings per share for the group for the second quarter were 2.87 cents, up from 2.67 cents in the same quarter a year earlier. Its net asset value per share was $2.06 as of Dec 31, up from $2.03 as of June 30 last year.
Guocoland's share price closed 12 cents down at $2 yesterday, while Wing Tai Holdings closed four cents lower at $1.76.
Market recovery boosts 2 property developers
By Jessica Cheam
Healthy sales for Guocoland's developments, including Elliot on the east coast (above), contributed to increased revenue for the property developer. -- PHOTO: GUOCOLAND
A BOOMING property market on the back of a broad if tentative economic recovery last year has boosted the results of two mainboard-listed developers.
Guocoland posted a net profit yesterday of $60.4 million in its second quarter ended Dec 31 last year - a dramatic jump from just $861,000 earned in the same quarter a year earlier.
Boosted by positive sentiment and strong property sales, Guocoland's revenue leapt 284 per cent to hit $363.7 million from the same period a year earlier.
Wing Tai Holdings posted a more modest 7 per cent rise in net profit to $22.3 million in its second quarter in the same three-month period. Revenue shot up 93 per cent to $177 million.
Guocoland said yesterday that its strong performance was mainly due to the strong sales of projects in China, especially Nanjing's Ascot Park.
China's property market has rallied in the recent year, in tandem with its growing economy. Asian markets have been leading a broad global recovery following the 2008 financial crisis.
For the half year ended Dec 31, Guocoland had a net profit of $72.8 million, reversing a net loss of $2 million in the same period a year ago. Revenue was also up 85 per cent to $459.4 million.
Closer to home, the group launched Sophia Residence in the Dhoby Ghaut area and Elliot on the east coast, which chalked up more than 90 per cent and 70 per cent sales respectively.
Earnings per share for the group were 7.27 cents for the second quarter, up from 0.1 cent previously. The group's net asset value was $2.32 as of Dec 31, compared to $2.37 as of June 30.
Brisk sales in Singapore's private residential market also gave Wing Tai's financial performance a lift.
The group said it sold more homes at its Belle Vue Residences at Oxley Walk and The Riverine by the Park at Kallang.
For the half year, its net profit rose 28 per cent to $68.7 million, while revenue rose 101 per cent to $454.3 million.
Earnings per share for the group for the second quarter were 2.87 cents, up from 2.67 cents in the same quarter a year earlier. Its net asset value per share was $2.06 as of Dec 31, up from $2.03 as of June 30 last year.
Guocoland's share price closed 12 cents down at $2 yesterday, while Wing Tai Holdings closed four cents lower at $1.76.
ST : HDB to install lift floor displays at 370 blocks
Feb 5, 2010
HDB to install lift floor displays at 370 blocks
The electronic panels will tell users which floor a lift is at
By Ang Yiying
THE Housing Board (HDB) will be going back to 200 blocks islandwide which underwent the Lift Upgrading Programme (LUP) and re-doing work on the lifts.
Some of the lifts at these blocks started operating months ago, but after residents complained, lifts in the affected blocks will be 're-upgraded'.
At issue: Electronic panels that tell residents which floor a lift is at.
The board had initially decided to do away with the panels at lift landings - except for the lobby - to save costs.
The lift landings were fitted only with displays that showed arrows pointing upwards or downwards that would light up just before a lift arrives.
Another 170 blocks that have not been upgraded yet were to have received similar up/down indicators.
But when residents in the upgraded blocks complained that their new lifts were worse than the old ones because they could not tell how long they would have to wait for them, the HDB changed its mind.
It will now retrofit the lift landings in the affected blocks. The plans for the 170 blocks that have not been upgraded yet have also been changed.
In notices that went up on noticeboards of the affected blocks this week, the HDB said: 'In response to feedback from residents, HDB will be gradually replacing the up/down indicators with simplified position display panels.'
The electronic panels will display a floor number and an arrow to indicate the lift direction, but will not display other electronic text, like the block number.
The notices did not give a timeline for the replacement works, but said they would be done 'progressively' when the new panels become available.
HDB said it initially chose simple up/down indicators because they were cost-effective: They were 65 per cent cheaper to install, 80 per cent cheaper to maintain and have a longer lifespan - seven years compared with four years - than position display panels. This, it said, would help town councils reduce capital and maintenance costs.
Asked about whether retrofitting upgraded lifts with position indicators would be more expensive than fitting them to begin with, HDB would only say that the cost would vary from site to site. It added: 'However, as the number of blocks affected is not large, and the replacement works straightforward, the cost is estimated to be very much less than 1 per cent of the overall LUP cost for each precinct.'
It said the change would not affect residents' share of the lift upgrading cost indicated during the polling phase - which varies from block to block, but is capped at $3,000 for Singaporeans.
When asked how much more a retrofitting exercise would cost, lift company Fujitec Singapore's director of operations Phuah Cheng Kok estimated it would be between $5,000 and $10,000 per lift, but added that this could vary depending on the product.
Fujitec was not involved in putting up lifts at the affected blocks.
Residents of 11 blocks at Bedok North Street 4 and Avenue 4 who had called for better lift indicators welcomed the news, though they added that it was overdue.
The Straits Times reported last October that they had called the block's LUP hotline and their town council about the issue; the HDB said then that it was looking into enhancement works.
Block 94B resident Florence Yong said she hopes the HDB will now tell them when the work will be done.
The 55-year-old, who is now between jobs, said: 'Of course, we hope they will give us a timeline when they are going to start, when they are going to finish...otherwise they can take their time to do it.'
Fujitec estimated that it would take a week for a lift to be retrofitted in a 25-storey block if no hacking or other building work is needed.
It added that sourcing the new panels and manpower to carry out the upgrades was the more time-consuming task.
HDB to install lift floor displays at 370 blocks
The electronic panels will tell users which floor a lift is at
By Ang Yiying
THE Housing Board (HDB) will be going back to 200 blocks islandwide which underwent the Lift Upgrading Programme (LUP) and re-doing work on the lifts.
Some of the lifts at these blocks started operating months ago, but after residents complained, lifts in the affected blocks will be 're-upgraded'.
At issue: Electronic panels that tell residents which floor a lift is at.
The board had initially decided to do away with the panels at lift landings - except for the lobby - to save costs.
The lift landings were fitted only with displays that showed arrows pointing upwards or downwards that would light up just before a lift arrives.
Another 170 blocks that have not been upgraded yet were to have received similar up/down indicators.
But when residents in the upgraded blocks complained that their new lifts were worse than the old ones because they could not tell how long they would have to wait for them, the HDB changed its mind.
It will now retrofit the lift landings in the affected blocks. The plans for the 170 blocks that have not been upgraded yet have also been changed.
In notices that went up on noticeboards of the affected blocks this week, the HDB said: 'In response to feedback from residents, HDB will be gradually replacing the up/down indicators with simplified position display panels.'
The electronic panels will display a floor number and an arrow to indicate the lift direction, but will not display other electronic text, like the block number.
The notices did not give a timeline for the replacement works, but said they would be done 'progressively' when the new panels become available.
HDB said it initially chose simple up/down indicators because they were cost-effective: They were 65 per cent cheaper to install, 80 per cent cheaper to maintain and have a longer lifespan - seven years compared with four years - than position display panels. This, it said, would help town councils reduce capital and maintenance costs.
Asked about whether retrofitting upgraded lifts with position indicators would be more expensive than fitting them to begin with, HDB would only say that the cost would vary from site to site. It added: 'However, as the number of blocks affected is not large, and the replacement works straightforward, the cost is estimated to be very much less than 1 per cent of the overall LUP cost for each precinct.'
It said the change would not affect residents' share of the lift upgrading cost indicated during the polling phase - which varies from block to block, but is capped at $3,000 for Singaporeans.
When asked how much more a retrofitting exercise would cost, lift company Fujitec Singapore's director of operations Phuah Cheng Kok estimated it would be between $5,000 and $10,000 per lift, but added that this could vary depending on the product.
Fujitec was not involved in putting up lifts at the affected blocks.
Residents of 11 blocks at Bedok North Street 4 and Avenue 4 who had called for better lift indicators welcomed the news, though they added that it was overdue.
The Straits Times reported last October that they had called the block's LUP hotline and their town council about the issue; the HDB said then that it was looking into enhancement works.
Block 94B resident Florence Yong said she hopes the HDB will now tell them when the work will be done.
The 55-year-old, who is now between jobs, said: 'Of course, we hope they will give us a timeline when they are going to start, when they are going to finish...otherwise they can take their time to do it.'
Fujitec estimated that it would take a week for a lift to be retrofitted in a 25-storey block if no hacking or other building work is needed.
It added that sourcing the new panels and manpower to carry out the upgrades was the more time-consuming task.
ST : CDL unit puts in highest bid for Sengkang site
Feb 5, 2010
CDL unit puts in highest bid for Sengkang site
By Harsha Jethnani
A UNIT of City Developments (CDL) lodged the highest bid for a Sengkang site in a hotly contested tender that attracted some of the biggest names in property development.
Sunmaster Holdings trumped its nine rival bidders with an offer of $200.5 million, or $365.26 per square foot (psf) of potential gross floor area, for the 182,986 sq ft plot.
This was 185 per cent above the reserve price of $70 million or $128 psf, said Mr Li Hiaw Ho, executive director at CB Richard Ellis Research.
The Sunmaster Holdings bid for the 99-year leasehold residential site at the corner of Sengkang West Avenue and Fernvale Link was followed by Tuas Hi-Tech Park's offer of $177 million.
Frasers Centrepoint was just $92,000 behind at $176,908,000.
Other bidders included a joint venture between Hoi Hup Realty and Sunway Developments, First Changi Development, Allgreen Properties, CEL Development and Lippo Estates, with the lowest bid at $115.6 million.
'The healthy number of bids received shows that developers remain confident of the market for mass-market homes,' said the director of research and advisory at Colliers International, Ms Tay Huey Ying.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak pointed out that although developers 'are still somewhat hungry for good development sites', most bids were reasonable.
This is possibly because of the ample supply of government land sales projects coming up in the first half of the year, he said.
The site is estimated to be able to accommodate up to 465 condominium units and has a maximum allowable gross floor area of 50,996 sq m or 548,916 sq ft. It is near the Layar LRT station on Sengkang West Avenue.
Based on breakeven estimates of $650-$700 psf, Mr Li expects selling prices at the new development to range from $750 to $800 psf.
Units at another condominium in the vicinity, the Quartz, had been transacting at prices averaging $745 psf since last October, Ms Tay said.
With five-room and executive resale HDB flats in Sengkang selling for $400,000 to $500,000, Mr Li believes that there should be demand from HDB upgraders whose flats have or will soon turn five years old.
Demand could also come from the nearby Seletar private estate, he said.
The Housing Board will award the tender within the next two weeks.
CDL unit puts in highest bid for Sengkang site
By Harsha Jethnani
A UNIT of City Developments (CDL) lodged the highest bid for a Sengkang site in a hotly contested tender that attracted some of the biggest names in property development.
Sunmaster Holdings trumped its nine rival bidders with an offer of $200.5 million, or $365.26 per square foot (psf) of potential gross floor area, for the 182,986 sq ft plot.
This was 185 per cent above the reserve price of $70 million or $128 psf, said Mr Li Hiaw Ho, executive director at CB Richard Ellis Research.
The Sunmaster Holdings bid for the 99-year leasehold residential site at the corner of Sengkang West Avenue and Fernvale Link was followed by Tuas Hi-Tech Park's offer of $177 million.
Frasers Centrepoint was just $92,000 behind at $176,908,000.
Other bidders included a joint venture between Hoi Hup Realty and Sunway Developments, First Changi Development, Allgreen Properties, CEL Development and Lippo Estates, with the lowest bid at $115.6 million.
'The healthy number of bids received shows that developers remain confident of the market for mass-market homes,' said the director of research and advisory at Colliers International, Ms Tay Huey Ying.
Ngee Ann Polytechnic real estate lecturer Nicholas Mak pointed out that although developers 'are still somewhat hungry for good development sites', most bids were reasonable.
This is possibly because of the ample supply of government land sales projects coming up in the first half of the year, he said.
The site is estimated to be able to accommodate up to 465 condominium units and has a maximum allowable gross floor area of 50,996 sq m or 548,916 sq ft. It is near the Layar LRT station on Sengkang West Avenue.
Based on breakeven estimates of $650-$700 psf, Mr Li expects selling prices at the new development to range from $750 to $800 psf.
Units at another condominium in the vicinity, the Quartz, had been transacting at prices averaging $745 psf since last October, Ms Tay said.
With five-room and executive resale HDB flats in Sengkang selling for $400,000 to $500,000, Mr Li believes that there should be demand from HDB upgraders whose flats have or will soon turn five years old.
Demand could also come from the nearby Seletar private estate, he said.
The Housing Board will award the tender within the next two weeks.
TODAY Online : Developers eager for condo sites
Developers eager for condo sites
05:55 AM Feb 05, 2010
by Millet Enriquez
SINGAPORE - Developers still appear hungry for land that can be used for condominium development.
A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over $200 million.
Industry experts said it is sign that developers are still eager to snap up good sites.
The site in Sengkang West Avenue and Fernvale Link received bids from 10 developers, with Sunmaster Holdings submitting an offer of $200.5 million - more than 2.5 times the minimum bid of $70 million.
The price translates to $365 per square foot (psf) for the 16,998.8-sq-m land area launched by the Housing and Development Board (HDB) on a 99-year lease.
The next highest bid came from Tuas Hi-Tech Park, with a bid of $177 million.
The lowest bid of $115.6 million was by Lippo Estates.
The HDB said it will evaluate the provisional results and the tender will be awarded in the next two weeks.
Industry observers say the top bid was very bullish. The break-even cost would be about $730 to $760 psf, said Nicholas Mak, Real Estate lecturer in Ngee Ann Polytechnic.
"It looks like developers are still somewhat hungry for good development sites," he said.
The bid for the site is much higher than the recent transacted average price of Compass Heights at $670 psf, which is a few LRT stations away.
But the price is comparable to the $750 psf of The Quartz near the Buangkok MRT station, Mr Mak added.
"It's quite expensive," said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International.
This could only be a result of liquidity and pent-up demand, he said.
"That could explain why developers are bidding a high price for a development in a far-flung area like Sengkang," said Mr Tan.
Ms Tay Huey Ying, director of Research and Advisory at Colliers International, agrees the top bid reflects the optimistic sentiment of developers.
"This signifies that the Government's strategy of reining in land price by increasing supply through the Confirmed List is taking effect," she said.
In 2009, three other residential sites received bids that were higher than $200 million, said Mr Mak.
Copyright 2010 MediaCorp Pte Ltd | All Rights Reserved
05:55 AM Feb 05, 2010
by Millet Enriquez
SINGAPORE - Developers still appear hungry for land that can be used for condominium development.
A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over $200 million.
Industry experts said it is sign that developers are still eager to snap up good sites.
The site in Sengkang West Avenue and Fernvale Link received bids from 10 developers, with Sunmaster Holdings submitting an offer of $200.5 million - more than 2.5 times the minimum bid of $70 million.
The price translates to $365 per square foot (psf) for the 16,998.8-sq-m land area launched by the Housing and Development Board (HDB) on a 99-year lease.
The next highest bid came from Tuas Hi-Tech Park, with a bid of $177 million.
The lowest bid of $115.6 million was by Lippo Estates.
The HDB said it will evaluate the provisional results and the tender will be awarded in the next two weeks.
Industry observers say the top bid was very bullish. The break-even cost would be about $730 to $760 psf, said Nicholas Mak, Real Estate lecturer in Ngee Ann Polytechnic.
"It looks like developers are still somewhat hungry for good development sites," he said.
The bid for the site is much higher than the recent transacted average price of Compass Heights at $670 psf, which is a few LRT stations away.
But the price is comparable to the $750 psf of The Quartz near the Buangkok MRT station, Mr Mak added.
"It's quite expensive," said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International.
This could only be a result of liquidity and pent-up demand, he said.
"That could explain why developers are bidding a high price for a development in a far-flung area like Sengkang," said Mr Tan.
Ms Tay Huey Ying, director of Research and Advisory at Colliers International, agrees the top bid reflects the optimistic sentiment of developers.
"This signifies that the Government's strategy of reining in land price by increasing supply through the Confirmed List is taking effect," she said.
In 2009, three other residential sites received bids that were higher than $200 million, said Mr Mak.
Copyright 2010 MediaCorp Pte Ltd | All Rights Reserved
ST : MPs welcome action by HDB
Feb 5, 2010
MPs welcome action by HDB
Good idea to get feedback from residents before any upgrading works
By Ang Yiying
A resident waiting for the lift on the fourth floor of Block 716, Bedok Reservoir Road. The new lift (on the left) does not have a display panel at every lift landing, indicating which floor the lift is currently on, unlike the old lift (on the right). -- ST PHOTO: CHEW SENG KIM
MOST Members of Parliament yesterday welcomed the HDB's move to reverse its decision on leaving out floor-indicator panels for its Lift Upgrading Programme (LUP).
But some said the U-turn showed that more consultation should have been done before future upgrading projects are undertaken.
Mr Lim Biow Chuan, MP for Marine Parade GRC, a member of the Government Parliamentary Committee for National Development and Environment, said the HDB was probably trying to help residents save costs. But it was right that it reviewed the situation when the feedback was not positive.
He said: 'I suppose the learning point is really more consultation, checking with the (lift upgrading) working committee or residents if things are considered frills or basic necessities.'
HDB, to save costs, initially decided to have the panels only at the lobby. Lift landings elsewhere in the block were fitted only with displays that showed arrows pointing upwards or downwards that would light up before a lift arrives.
Ms Lee Bee Wah, deputy chairman for the committee and MP for Ang Mo Kio GRC, said her residents did not face the lift issue. But she added: 'We need to strike a balance between cost savings and residents' needs.'
Other MPs on the committee also weighed in on the issue.
Mr Liang Eng Hwa, MP for Holland-Bukit Timah GRC, added: 'From this incident, it will be worthwhile to invest time and resources to survey the preferences of the residents before upgrading works.'
Madam Ho Geok Choo, MP for West Coast GRC, felt that HDB had taken a prudent approach to be cost-effective from the start. But it was also important that it remained flexible enough to fine-tune along the way. She said its latest step 'signifies a very positive response' and that it was being 'responsive to residents'.
But the issue of electronic display panels is not the only gripe among lift upgrading complaints.
At Eunos Road 5, blocks 411, 415 and 417, where external lift shafts are being constructed, some residents have been taking on the HDB since they found out in 2006 where the shafts will be sited - directly facing their units, which they say will block off some light and air.
The shafts are now up, and in the latest development, some residents from affected units are now part of a working committee giving feedback to project consultants still looking into a design solution that will address their concerns.
Dr Ong Seh Hong, the MP for the precinct, could not be reached for comment yesterday but had said in an earlier interview that the incident was a learning process for the parties involved.
Eunos Village residents' committee chairman Rahmat Sawie, 56, who is part of the LUP working committee for the area, was for more consultation: 'Even if it's a slight issue, we should still consult.'
MPs welcome action by HDB
Good idea to get feedback from residents before any upgrading works
By Ang Yiying
A resident waiting for the lift on the fourth floor of Block 716, Bedok Reservoir Road. The new lift (on the left) does not have a display panel at every lift landing, indicating which floor the lift is currently on, unlike the old lift (on the right). -- ST PHOTO: CHEW SENG KIM
MOST Members of Parliament yesterday welcomed the HDB's move to reverse its decision on leaving out floor-indicator panels for its Lift Upgrading Programme (LUP).
But some said the U-turn showed that more consultation should have been done before future upgrading projects are undertaken.
Mr Lim Biow Chuan, MP for Marine Parade GRC, a member of the Government Parliamentary Committee for National Development and Environment, said the HDB was probably trying to help residents save costs. But it was right that it reviewed the situation when the feedback was not positive.
He said: 'I suppose the learning point is really more consultation, checking with the (lift upgrading) working committee or residents if things are considered frills or basic necessities.'
HDB, to save costs, initially decided to have the panels only at the lobby. Lift landings elsewhere in the block were fitted only with displays that showed arrows pointing upwards or downwards that would light up before a lift arrives.
Ms Lee Bee Wah, deputy chairman for the committee and MP for Ang Mo Kio GRC, said her residents did not face the lift issue. But she added: 'We need to strike a balance between cost savings and residents' needs.'
Other MPs on the committee also weighed in on the issue.
Mr Liang Eng Hwa, MP for Holland-Bukit Timah GRC, added: 'From this incident, it will be worthwhile to invest time and resources to survey the preferences of the residents before upgrading works.'
Madam Ho Geok Choo, MP for West Coast GRC, felt that HDB had taken a prudent approach to be cost-effective from the start. But it was also important that it remained flexible enough to fine-tune along the way. She said its latest step 'signifies a very positive response' and that it was being 'responsive to residents'.
But the issue of electronic display panels is not the only gripe among lift upgrading complaints.
At Eunos Road 5, blocks 411, 415 and 417, where external lift shafts are being constructed, some residents have been taking on the HDB since they found out in 2006 where the shafts will be sited - directly facing their units, which they say will block off some light and air.
The shafts are now up, and in the latest development, some residents from affected units are now part of a working committee giving feedback to project consultants still looking into a design solution that will address their concerns.
Dr Ong Seh Hong, the MP for the precinct, could not be reached for comment yesterday but had said in an earlier interview that the incident was a learning process for the parties involved.
Eunos Village residents' committee chairman Rahmat Sawie, 56, who is part of the LUP working committee for the area, was for more consultation: 'Even if it's a slight issue, we should still consult.'
ST : New-era industrial park
Feb 5, 2010
New-era industrial park
Senior Minister of State for National Development and Education Grace Fu this week suggested ways for Singapore to become a more attractive place to live and work in. She gave examples both in industry and the arts.
An artist's impression of the Lorong Halus Food Zone Industrial Development. Factories and plants will be sited among lush greenery in the industrial park, and waterfront lifestyle amenities will be in place for the public to use. The ESC sub-committee suggests better integrating residential, business, leisure and 'clean' industrial uses into 'live-work-play' enclaves. -- PHOTO: URA
EVEN in property-obsessed Singapore, industrial sites are often dismissed as drab, dull areas that hold no interest for the general public.
But new-era industrial parks like the one planned at Lorong Halus in Tampines could change all this.
Formerly a landfill, the land is now home to a wide diversity of wildlife.
When it is turned into an industrial park in the years to come, factories and plants will be sited among lush greenery and waterfront lifestyle amenities that the public can use.
The planned Lorong Halus industrial area was one of the examples cited by the Economic Strategies Committee sub-committee on how to make better use of land. Among its recommendations was a suggestion to better integrate residential, business, leisure and even 'clean' industrial uses into 'live-work-play' enclaves.
New-era industrial park
Senior Minister of State for National Development and Education Grace Fu this week suggested ways for Singapore to become a more attractive place to live and work in. She gave examples both in industry and the arts.
An artist's impression of the Lorong Halus Food Zone Industrial Development. Factories and plants will be sited among lush greenery in the industrial park, and waterfront lifestyle amenities will be in place for the public to use. The ESC sub-committee suggests better integrating residential, business, leisure and 'clean' industrial uses into 'live-work-play' enclaves. -- PHOTO: URA
EVEN in property-obsessed Singapore, industrial sites are often dismissed as drab, dull areas that hold no interest for the general public.
But new-era industrial parks like the one planned at Lorong Halus in Tampines could change all this.
Formerly a landfill, the land is now home to a wide diversity of wildlife.
When it is turned into an industrial park in the years to come, factories and plants will be sited among lush greenery and waterfront lifestyle amenities that the public can use.
The planned Lorong Halus industrial area was one of the examples cited by the Economic Strategies Committee sub-committee on how to make better use of land. Among its recommendations was a suggestion to better integrate residential, business, leisure and even 'clean' industrial uses into 'live-work-play' enclaves.
ST : Vibrant 'software' key to building a global city
Feb 5, 2010
Vibrant 'software' key to building a global city
S'pore can be cultural hub of Asia with lively arts scene, talent and innovation
By Tessa Wong
SINGAPORE'S public infrastructure, education system, health care, and technology - the city's 'hardware' - have helped make it one of the most liveable places in the world.
But to make it a leading global city like Paris, London or New York, it needs the accompanying 'software' - a vibrant arts and cultural scene, top talent and thriving innovation.
To achieve this, the Economic Strategies Committee's sub-committee for making Singapore a leading global city has unleashed a panoply of suggestions.
To develop the cultural scene, it has suggested giving arts and creative businesses a leg-up by providing them with more affordable spaces in existing clusters like Gillman Village. Agencies like the Jurong Town Council could develop infrastructure for future clusters.
An annual calendar packed with more top-notch international events, especially in the sports and culinary areas, would also add vibrancy, it added.
There could be more incentives to encourage sponsorship of the arts and to promote Singapore to tourists as a gateway to Asia's varied cultures.
The civic district, already brimming with museums and theatres, could also be marketed as a premier cultural destination, and more major events could be held in its public spaces.
The idea is to make Singapore the cultural hub of Asia.
'In many ways, we will be the culinary and culture kitchen of Asia, because we have a long heritage steeped in Asia and the West,' said Mr Benson Phua, chief executive officer of the National Arts Council and the Esplanade.
In the area of attracting talent, one aim could be to attract top South-east Asian artists to come to Singapore and make their most creative works here, said Mr Lui Tuck Yew, co-chair of the sub-committee.
But homegrown talent should also be groomed and helped in gaining international exposure, he added.
Singapore could welcome at least five more world-class schools or programmes by 2020, to develop talents in areas like the arts, sports, fashion and design.
While Mr Lui was unable to disclose names, it is understood they would be of the same calibre as New York University's Tisch School of the Arts, which set up a campus here in 2007.
'What we want is to provide more opportunities, establish a certain reputation for Singapore, and tie up with the right partners overseas,' added Mr Lui, who is also the Acting Minister for Information, Communications and the Arts.
Finally, Singapore could also do with a more sophisticated branding and marketing campaign to woo people here, the committee suggested.
But it also stressed that a light touch should be exercised with these proposals.
Said Mr Lui: 'What we can do is provide some stimulus, to leave enough room for that organic development to take place.
'What we don't want to do is script it to the nth degree so that there is no room for that outpouring of new ideas accumulating and developing.'
For example, the Government should only take on a facilitative role when developing key districts.
'The private businesses should lead the development, while the Government supports,' said Mrs Cheong Koon Hean, chief executive of the Urban Redevelopment Authority.
But even as Singapore evolves into a culture capital on a par with London, New York and Paris, it should not emulate those cities' more permissive societies, said Mr Lui.
He stressed that the city should remain an 'open yet safe and secure society'.
'We have to chart our own path. Most of all, it will be determined by Singaporeans and what they are prepared to do... proceeding at a pace that's calibrated, gradual, and what Singaporeans are comfortable with.'
Vibrant 'software' key to building a global city
S'pore can be cultural hub of Asia with lively arts scene, talent and innovation
By Tessa Wong
SINGAPORE'S public infrastructure, education system, health care, and technology - the city's 'hardware' - have helped make it one of the most liveable places in the world.
But to make it a leading global city like Paris, London or New York, it needs the accompanying 'software' - a vibrant arts and cultural scene, top talent and thriving innovation.
To achieve this, the Economic Strategies Committee's sub-committee for making Singapore a leading global city has unleashed a panoply of suggestions.
To develop the cultural scene, it has suggested giving arts and creative businesses a leg-up by providing them with more affordable spaces in existing clusters like Gillman Village. Agencies like the Jurong Town Council could develop infrastructure for future clusters.
An annual calendar packed with more top-notch international events, especially in the sports and culinary areas, would also add vibrancy, it added.
There could be more incentives to encourage sponsorship of the arts and to promote Singapore to tourists as a gateway to Asia's varied cultures.
The civic district, already brimming with museums and theatres, could also be marketed as a premier cultural destination, and more major events could be held in its public spaces.
The idea is to make Singapore the cultural hub of Asia.
'In many ways, we will be the culinary and culture kitchen of Asia, because we have a long heritage steeped in Asia and the West,' said Mr Benson Phua, chief executive officer of the National Arts Council and the Esplanade.
In the area of attracting talent, one aim could be to attract top South-east Asian artists to come to Singapore and make their most creative works here, said Mr Lui Tuck Yew, co-chair of the sub-committee.
But homegrown talent should also be groomed and helped in gaining international exposure, he added.
Singapore could welcome at least five more world-class schools or programmes by 2020, to develop talents in areas like the arts, sports, fashion and design.
While Mr Lui was unable to disclose names, it is understood they would be of the same calibre as New York University's Tisch School of the Arts, which set up a campus here in 2007.
'What we want is to provide more opportunities, establish a certain reputation for Singapore, and tie up with the right partners overseas,' added Mr Lui, who is also the Acting Minister for Information, Communications and the Arts.
Finally, Singapore could also do with a more sophisticated branding and marketing campaign to woo people here, the committee suggested.
But it also stressed that a light touch should be exercised with these proposals.
Said Mr Lui: 'What we can do is provide some stimulus, to leave enough room for that organic development to take place.
'What we don't want to do is script it to the nth degree so that there is no room for that outpouring of new ideas accumulating and developing.'
For example, the Government should only take on a facilitative role when developing key districts.
'The private businesses should lead the development, while the Government supports,' said Mrs Cheong Koon Hean, chief executive of the Urban Redevelopment Authority.
But even as Singapore evolves into a culture capital on a par with London, New York and Paris, it should not emulate those cities' more permissive societies, said Mr Lui.
He stressed that the city should remain an 'open yet safe and secure society'.
'We have to chart our own path. Most of all, it will be determined by Singaporeans and what they are prepared to do... proceeding at a pace that's calibrated, gradual, and what Singaporeans are comfortable with.'
ST : A thriving arts cluster
Feb 5, 2010
A thriving arts cluster
An artist's impression of Gillman Village being used as an arts cluster. Gillman Village has the benefit of being housed in conservation colonial barracks, which arts groups can make use of rather than paying to construct new buildings. Outdoor spaces can also be creatively used at events organised for the arts and creative industries. -- PHOTO: URA
IT IS now a laid-back enclave with a clutch of rustic restaurants and watering holes but in a few years, Gillman Village could be a thriving cluster for arts and creative activities.
At least, that is the vision of the Economic Strategies Committee, which suggests turning the site off Alexandra Road into a 'prominent destination to anchor and grow the arts and creative businesses'.
These could include design and digital media firms, said Ms Grace Fu, who chaired the sub-committee on enhancing land use.
She said Gillman has the benefit of being housed in conservation colonial barracks, which arts groups can make use of rather than paying to construct new buildings.
As an arts cluster, Gillman Village will add to the diversity of attractions along the southern waterfront, the sub-committee said in its report.
A thriving arts cluster
An artist's impression of Gillman Village being used as an arts cluster. Gillman Village has the benefit of being housed in conservation colonial barracks, which arts groups can make use of rather than paying to construct new buildings. Outdoor spaces can also be creatively used at events organised for the arts and creative industries. -- PHOTO: URA
IT IS now a laid-back enclave with a clutch of rustic restaurants and watering holes but in a few years, Gillman Village could be a thriving cluster for arts and creative activities.
At least, that is the vision of the Economic Strategies Committee, which suggests turning the site off Alexandra Road into a 'prominent destination to anchor and grow the arts and creative businesses'.
These could include design and digital media firms, said Ms Grace Fu, who chaired the sub-committee on enhancing land use.
She said Gillman has the benefit of being housed in conservation colonial barracks, which arts groups can make use of rather than paying to construct new buildings.
As an arts cluster, Gillman Village will add to the diversity of attractions along the southern waterfront, the sub-committee said in its report.
ST : JTC to build 7 factories at Seletar
Feb 5, 2010
JTC to build 7 factories at Seletar
$30m project will boost aerospace sector and back Rolls-Royce unit
By Karamjit Kaur, Aviation Correspondent
SEVEN new factories, each up to 3,000 sq m in size, will come up at Seletar Aerospace Park next year, near the future Rolls-Royce facility.
The $30 million project by JTC Corp is partly to support the British power systems and engines giant, which will assemble and test engines, as well as make fan blades for large aircraft, at the site.
Getting big boys like Rolls-Royce in is a good way to grow the local aerospace sector as they can play 'queen bee', attracting other supporting suppliers and firms to set up shop here, said JTC and the Economic Development Board (EDB) at a joint industry briefing yesterday.
EDB director of transport engineering Sia Kheng Yok said: 'There are many discussions now on with local and overseas companies about supply opportunities.'
Growing the manufacturing arm of the aerospace industry is a key priority for Singapore, which currently does more work in aircraft maintenance, repair and overhaul (MRO). This segment accounted for about 90 per cent of the industry's total output last year, which hit just over $7 billion - about the level seen in 2008.
Despite the business downturn, which took its toll on airlines and other aviation firms last year, Singapore's aerospace industry has demonstrated its resilience in the face of hardship, said Mr Sia at the briefing, held at the Singapore Airshow.
The future looks good, he said, noting that signs suggest business is picking up.
As an example, he named Singapore Airlines. The carrier announced earlier this week that it had made a profit of $404 million over the three months ended December last year, reversing two previous quarters of losses.
As Singapore continues to work towards expanding its aerospace sector, manpower development and training will be another key focus, Mr Sia said.
The Republic's various universities, polytechnics and other institutes now churn out about 1,400 aerospace-qualified people a year. In 2003, there were just 200 graduates.
Industry players welcomed plans to boost the sector further.
Mr Nick Sng, the business development manager at JEP Precision Engineering, which does engine-related work, said bringing in more firms would raise competitiveness and lower costs.
Business growth and strong Government support for the sector have already encouraged new players to come in.
Executive director Sam Tan of Soon Lian Holdings, which supplies aluminium alloy products, said: 'Our main business had always been the marine industry and precision engineering. More recently, however, we moved into the aerospace industry because we saw the potential for growth in this area, especially with the Government pushing for it. We have reaped the rewards from this move.'
JTC to build 7 factories at Seletar
$30m project will boost aerospace sector and back Rolls-Royce unit
By Karamjit Kaur, Aviation Correspondent
SEVEN new factories, each up to 3,000 sq m in size, will come up at Seletar Aerospace Park next year, near the future Rolls-Royce facility.
The $30 million project by JTC Corp is partly to support the British power systems and engines giant, which will assemble and test engines, as well as make fan blades for large aircraft, at the site.
Getting big boys like Rolls-Royce in is a good way to grow the local aerospace sector as they can play 'queen bee', attracting other supporting suppliers and firms to set up shop here, said JTC and the Economic Development Board (EDB) at a joint industry briefing yesterday.
EDB director of transport engineering Sia Kheng Yok said: 'There are many discussions now on with local and overseas companies about supply opportunities.'
Growing the manufacturing arm of the aerospace industry is a key priority for Singapore, which currently does more work in aircraft maintenance, repair and overhaul (MRO). This segment accounted for about 90 per cent of the industry's total output last year, which hit just over $7 billion - about the level seen in 2008.
Despite the business downturn, which took its toll on airlines and other aviation firms last year, Singapore's aerospace industry has demonstrated its resilience in the face of hardship, said Mr Sia at the briefing, held at the Singapore Airshow.
The future looks good, he said, noting that signs suggest business is picking up.
As an example, he named Singapore Airlines. The carrier announced earlier this week that it had made a profit of $404 million over the three months ended December last year, reversing two previous quarters of losses.
As Singapore continues to work towards expanding its aerospace sector, manpower development and training will be another key focus, Mr Sia said.
The Republic's various universities, polytechnics and other institutes now churn out about 1,400 aerospace-qualified people a year. In 2003, there were just 200 graduates.
Industry players welcomed plans to boost the sector further.
Mr Nick Sng, the business development manager at JEP Precision Engineering, which does engine-related work, said bringing in more firms would raise competitiveness and lower costs.
Business growth and strong Government support for the sector have already encouraged new players to come in.
Executive director Sam Tan of Soon Lian Holdings, which supplies aluminium alloy products, said: 'Our main business had always been the marine industry and precision engineering. More recently, however, we moved into the aerospace industry because we saw the potential for growth in this area, especially with the Government pushing for it. We have reaped the rewards from this move.'
CNA : Sengkang condo land parcel sees top bid of S$200.5m
Sengkang condo land parcel sees top bid of S$200.5m
By Millet Enriquez, Channel NewsAsia | Posted: 04 February 2010 2153 hrs
SINGAPORE: Developers still appear hungry for land that can be used for condominium development.
A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over S$200 million.
Industry experts said it is a sign that appetite among developers to snap good sites is currently on a high.
The site at Sengkang West Avenue and Fernvale Link received bids from 10 developers.
Sunmaster Holdings submitted an offer of S$200.5 million, more than 2.5 times the minimum bid of S$70 million, for the 16,998.8 square metre site.
The price translates to S$365 per square foot (psf) for the land parcel launched by the Housing and Development Board (HDB) on a 99-year lease.
The next highest bid came from Tuas Hi-Tech Park, with a bid of S$177 million. The lowest bid of S$115.6 million was by Lippo Estates.
The HDB said it will evaluate the provisional results and the tender will be awarded in the next two weeks.
Industry observers said the top bid was very bullish. Ngee Ann Polytechnic real estate lecturer Nicholas Mak said the breakeven cost would be about S$730 to S$760 psf.
Colliers said the top bid reflected the optimistic sentiment of developers. In 2009, three other residential sites received bids that were higher than S$200 million. - CNA/vm
By Millet Enriquez, Channel NewsAsia | Posted: 04 February 2010 2153 hrs
SINGAPORE: Developers still appear hungry for land that can be used for condominium development.
A tender for a land parcel in Sengkang saw robust bidding, with the top offer coming in at over S$200 million.
Industry experts said it is a sign that appetite among developers to snap good sites is currently on a high.
The site at Sengkang West Avenue and Fernvale Link received bids from 10 developers.
Sunmaster Holdings submitted an offer of S$200.5 million, more than 2.5 times the minimum bid of S$70 million, for the 16,998.8 square metre site.
The price translates to S$365 per square foot (psf) for the land parcel launched by the Housing and Development Board (HDB) on a 99-year lease.
The next highest bid came from Tuas Hi-Tech Park, with a bid of S$177 million. The lowest bid of S$115.6 million was by Lippo Estates.
The HDB said it will evaluate the provisional results and the tender will be awarded in the next two weeks.
Industry observers said the top bid was very bullish. Ngee Ann Polytechnic real estate lecturer Nicholas Mak said the breakeven cost would be about S$730 to S$760 psf.
Colliers said the top bid reflected the optimistic sentiment of developers. In 2009, three other residential sites received bids that were higher than S$200 million. - CNA/vm
BT : Reserve list system set for review
Business Times - 05 Feb 2010
ECONOMIC STRATEGIES COMMITTEE
Reserve list system set for review
Reducing deposit for developers who try to trigger site sales may be considered
By EMILYN YAP
A REVIEW of the reserve list system for government land sales is in the works, after the Economic Strategies Committee (ESC) called for changes to help developers trigger the sale of sites more easily.
This would be the first revamp of the system since it was introduced in 2001. One possible tweak could allow developers to pay lower deposits after they apply for a site on the list.
In a report released yesterday, the ESC sub-group tasked to find ways to boost land productivity noted the importance of managing cost volatility. The degree of fluctuation in housing and office rents could influence corporate and individual decisions to relocate to Singapore, it said.
Reviewing the reserve list system to make it 'less onerous' for developers to trigger the sale of sites could ensure that 'supply can be more easily activated when needed'.
Senior Minister of State for National Development and Education Grace Fu, who is also co-chair of the sub-group, shared more details in an interview. She said there has been feedback from developers about the cost of triggering the sale of sites.
'We are trying to look at ways to make this as low-cost as possible, so developers do not have to cross a very high barrier to trigger,' she said. 'That is to make the government land sales system more responsive to the market.'
At present, a developer keen on a site on the reserve list has to submit an application to the government, stating the minimum price it is willing to pay. Only when the state accepts the application will the developer have to pay a deposit, which is 5 per cent of the minimum price committed.
The developer has two weeks to pay the deposit via a cashier's order, banker's guarantee or a bank transfer. If this does not happen, acceptance of the application lapses.
Take the sale of a residential site at Upper Thomson Road last year, for example. A developer committed to pay at least $82 million for the plot. This means the deposit was $4.1 million.
Industry players BT spoke to had few issues to raise about the reserve list system. Roxy-Pacific chief executive Teo Hong Lim said financially-prudent developers would most likely have 'blessings of bankers' before even applying for a site. A Hiap Hoe spokesperson agreed, saying developers would usually have prepared funds for the entire development cost when bidding for a site.
Reducing the deposit needed could encourage a few more developers to apply for sites, said Ngee Ann Polytechnic real estate lecturer Nicholas Mak. The deposit could be cut to 2-3 per cent of the minimum price committed, he added.
Apart from the deposit, other procedures in the reserve list system are under review. Knight Frank chairman Tan Tiong Cheng suggested the government provide an indicative range of reserve prices for sites, so developers can be more certain their application would be accepted.
On the whole, the system works 'pretty well', he said. 'It's a case of what's in the reserve list. The quality of the sites is important.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
ECONOMIC STRATEGIES COMMITTEE
Reserve list system set for review
Reducing deposit for developers who try to trigger site sales may be considered
By EMILYN YAP
A REVIEW of the reserve list system for government land sales is in the works, after the Economic Strategies Committee (ESC) called for changes to help developers trigger the sale of sites more easily.
This would be the first revamp of the system since it was introduced in 2001. One possible tweak could allow developers to pay lower deposits after they apply for a site on the list.
In a report released yesterday, the ESC sub-group tasked to find ways to boost land productivity noted the importance of managing cost volatility. The degree of fluctuation in housing and office rents could influence corporate and individual decisions to relocate to Singapore, it said.
Reviewing the reserve list system to make it 'less onerous' for developers to trigger the sale of sites could ensure that 'supply can be more easily activated when needed'.
Senior Minister of State for National Development and Education Grace Fu, who is also co-chair of the sub-group, shared more details in an interview. She said there has been feedback from developers about the cost of triggering the sale of sites.
'We are trying to look at ways to make this as low-cost as possible, so developers do not have to cross a very high barrier to trigger,' she said. 'That is to make the government land sales system more responsive to the market.'
At present, a developer keen on a site on the reserve list has to submit an application to the government, stating the minimum price it is willing to pay. Only when the state accepts the application will the developer have to pay a deposit, which is 5 per cent of the minimum price committed.
The developer has two weeks to pay the deposit via a cashier's order, banker's guarantee or a bank transfer. If this does not happen, acceptance of the application lapses.
Take the sale of a residential site at Upper Thomson Road last year, for example. A developer committed to pay at least $82 million for the plot. This means the deposit was $4.1 million.
Industry players BT spoke to had few issues to raise about the reserve list system. Roxy-Pacific chief executive Teo Hong Lim said financially-prudent developers would most likely have 'blessings of bankers' before even applying for a site. A Hiap Hoe spokesperson agreed, saying developers would usually have prepared funds for the entire development cost when bidding for a site.
Reducing the deposit needed could encourage a few more developers to apply for sites, said Ngee Ann Polytechnic real estate lecturer Nicholas Mak. The deposit could be cut to 2-3 per cent of the minimum price committed, he added.
Apart from the deposit, other procedures in the reserve list system are under review. Knight Frank chairman Tan Tiong Cheng suggested the government provide an indicative range of reserve prices for sites, so developers can be more certain their application would be accepted.
On the whole, the system works 'pretty well', he said. 'It's a case of what's in the reserve list. The quality of the sites is important.'
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
BT : Making the most of invested hardware
Business Times - 05 Feb 2010
ECONOMIC STRATEGIES COMMITTEE
Making the most of invested hardware
Govt to focus more on software to make S'pore a global city
By UMA SHANKARI
SINGAPORE has invested a lot in 'hardware' - by developing new parts of the island and building theatres - over the decades as it tried to become a more liveable city.
But now, more investment in 'software' is needed, according to the Economic Strategies Committee. The sub-committee tasked with making Singapore a leading global city released its full report yesterday.
'Going forward . . . the accelerated phase of making sure we have the right hardware is probably over,' said Lui Tuck Yew, Acting Minister for Information, Communications and the Arts, who co-chaired the sub-committee.
Right now, there are plans for just a few more new cultural developments - such as the National Art Gallery and Singapore Sports Hub.
Cheong Koon Hean, chief executive of the Urban Redevelopment Authority (URA), agreed: 'We have done very well on the hardware - creating homes, greenery, leisure options. We have invested a lot in hardware in the past decades, particular at Marina Bay, Orchard Road and other places.'
Singapore will continue to do that - but also focus on how to create more value from what has been invested.
Said Mrs Cheong: 'We will also try to be a bit more cutting edge in sustainable development in selected districts. The next step is to get good value from our investment in hardware by going more into the software, going into new frontiers like place management.'
Place management is about working with stakeholders to create economically and socially vibrant districts.
'We are starting that with four precincts - Marina Bay, Singapore River, Orchard Road and Bras Basah/Bugis,' Mrs Cheong said. 'It is a learning curve for us, to work with the stakeholders to create vibrant districts. We may eventually extend this to the conservation areas.'
The report also suggested looking into providing affordable spaces for business clusters (such as Gillman Village) and appointing agency champions such as JTC to develop or manage the infrastructure needs of emerging arts and creative sectors.
The sub-committee also presented a host of other ideas, including enticing more educational institutes, such as the Tisch School of the Arts, to set up here.
The aim, the report says, should be to attract or develop at least five world-class institutions or programmes here by 2020. RAdm Lui said that attracting educational institutions here was a strategy that has worked well, so Singapore should continue to pursue it.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Gillman Village: The report also suggests looking into providing affordable spaces for business clusters and appointing agency champions
ECONOMIC STRATEGIES COMMITTEE
Making the most of invested hardware
Govt to focus more on software to make S'pore a global city
By UMA SHANKARI
SINGAPORE has invested a lot in 'hardware' - by developing new parts of the island and building theatres - over the decades as it tried to become a more liveable city.
But now, more investment in 'software' is needed, according to the Economic Strategies Committee. The sub-committee tasked with making Singapore a leading global city released its full report yesterday.
'Going forward . . . the accelerated phase of making sure we have the right hardware is probably over,' said Lui Tuck Yew, Acting Minister for Information, Communications and the Arts, who co-chaired the sub-committee.
Right now, there are plans for just a few more new cultural developments - such as the National Art Gallery and Singapore Sports Hub.
Cheong Koon Hean, chief executive of the Urban Redevelopment Authority (URA), agreed: 'We have done very well on the hardware - creating homes, greenery, leisure options. We have invested a lot in hardware in the past decades, particular at Marina Bay, Orchard Road and other places.'
Singapore will continue to do that - but also focus on how to create more value from what has been invested.
Said Mrs Cheong: 'We will also try to be a bit more cutting edge in sustainable development in selected districts. The next step is to get good value from our investment in hardware by going more into the software, going into new frontiers like place management.'
Place management is about working with stakeholders to create economically and socially vibrant districts.
'We are starting that with four precincts - Marina Bay, Singapore River, Orchard Road and Bras Basah/Bugis,' Mrs Cheong said. 'It is a learning curve for us, to work with the stakeholders to create vibrant districts. We may eventually extend this to the conservation areas.'
The report also suggested looking into providing affordable spaces for business clusters (such as Gillman Village) and appointing agency champions such as JTC to develop or manage the infrastructure needs of emerging arts and creative sectors.
The sub-committee also presented a host of other ideas, including enticing more educational institutes, such as the Tisch School of the Arts, to set up here.
The aim, the report says, should be to attract or develop at least five world-class institutions or programmes here by 2020. RAdm Lui said that attracting educational institutions here was a strategy that has worked well, so Singapore should continue to pursue it.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Gillman Village: The report also suggests looking into providing affordable spaces for business clusters and appointing agency champions
BT : New ESC landscape may see property market changes
Business Times - 05 Feb 2010
New ESC landscape may see property market changes
Areas under study could include tenures, reserve list system, zoning, land use and land productivity
By EMILYN YAP
(SINGAPORE) The government could be making a wide range of changes to the property market - from offering a greater variety of lease tenures to relaxing rules for industrial land use.
These are some of several proposals from the Economic Strategies Committee (ESC) sub-group studying ways to maximise the value of Singapore's land. It also suggested that the government track land productivity more closely, review the reserve list system of land sales, and enhance links with land-abundant neighbouring countries.
These ideas came in a report from the sub-group yesterday. The paper also contains proposals announced earlier on Monday, calling for the makeover of Tanjong Pagar into a waterfront district, the creation of underground space and more intensive use of industrial land.
Improving choice and flexibility in the property market was one of the key themes in the report. 'In addition to robust planning, we should also focus on making our land use system more nimble and remove barriers that may impede the flow of land resources from less to more land-efficient economic activities,' the sub-group said.
The sub-group recognised that a wider range of lease tenures would meet varying corporate needs. While industrial sites tend to carry 30 or 30+30-year leases, some capital-intensive industries have asked for longer leases for greater certainty on their investments. For commercial sites, the state usually sells them with 15 or 99-year leases but some have asked for something in between, say 60-year leases.
Property consultants generally welcomed the proposal. For instance, banks may feel more secure lending to businesses operating on sites with longer leases, said Knight Frank chairman Tan Tiong Cheng. But there are also concerns - having different lease tenures in an area may impede urban renewal later, he added.
Another suggestion from the ESC sub-group pertains to zoning and land use. Some firms have asked for an expansion of allowable uses for state property, or more relaxed guidelines on housing other activities within an industrial zone.
These requests are particularly relevant as product cycles get shorter, and the line between production and services becomes blurred. And in developing entire industries, manufacturing, research and consumer-testing activities may have to come together.
Other zoning assumptions such as buffers between residential and industrial areas may be in for a review, said Senior Minister of State for National Development and Education Grace Fu in an interview. She is also co-chair of the sub-group.
But increased zoning flexibility will come 'in a very targeted way', she emphasised. 'Zoning allows us to segment land use and therefore keep industrial land affordable. . . We are not talking about very broad-based changes in the zoning framework.'
There were also positive responses to having more wiggle room in land use and zoning. Colliers International research and advisory director Tay Huey Ying supported this, though she noted that 'it may make land valuation a bit more tricky'.
The government should also consider offering more types of business locations, the sub-group said. For instance, Gillman Village could become home to a creative cluster, while Lorong Halus could be a waterfront industrial park with more amenities and lush greenery.
The ESC sub-group further recommended that the government place greater emphasis on land productivity when deciding how to allocate land among various uses. For instance, it should track and consider indicators such as value-added and jobs generated per hectare.
As the other co-chair of the sub-group, Boustead Singapore chairman and group CEO Wong Fong Fui described: 'It is like you have a land budget for economic development and thinking about how to invest it to maximise the economic 'yield' from the land.'
The wide range of proposals is expected to have some impact on the upcoming Concept Plan 2011, but Ngee Ann Polytechnic real estate lecturer Nicholas Mak noted that 'it is still early days' to say how reviews would go. Changes should be gradual, he reckoned.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
New ESC landscape may see property market changes
Areas under study could include tenures, reserve list system, zoning, land use and land productivity
By EMILYN YAP
(SINGAPORE) The government could be making a wide range of changes to the property market - from offering a greater variety of lease tenures to relaxing rules for industrial land use.
These are some of several proposals from the Economic Strategies Committee (ESC) sub-group studying ways to maximise the value of Singapore's land. It also suggested that the government track land productivity more closely, review the reserve list system of land sales, and enhance links with land-abundant neighbouring countries.
These ideas came in a report from the sub-group yesterday. The paper also contains proposals announced earlier on Monday, calling for the makeover of Tanjong Pagar into a waterfront district, the creation of underground space and more intensive use of industrial land.
Improving choice and flexibility in the property market was one of the key themes in the report. 'In addition to robust planning, we should also focus on making our land use system more nimble and remove barriers that may impede the flow of land resources from less to more land-efficient economic activities,' the sub-group said.
The sub-group recognised that a wider range of lease tenures would meet varying corporate needs. While industrial sites tend to carry 30 or 30+30-year leases, some capital-intensive industries have asked for longer leases for greater certainty on their investments. For commercial sites, the state usually sells them with 15 or 99-year leases but some have asked for something in between, say 60-year leases.
Property consultants generally welcomed the proposal. For instance, banks may feel more secure lending to businesses operating on sites with longer leases, said Knight Frank chairman Tan Tiong Cheng. But there are also concerns - having different lease tenures in an area may impede urban renewal later, he added.
Another suggestion from the ESC sub-group pertains to zoning and land use. Some firms have asked for an expansion of allowable uses for state property, or more relaxed guidelines on housing other activities within an industrial zone.
These requests are particularly relevant as product cycles get shorter, and the line between production and services becomes blurred. And in developing entire industries, manufacturing, research and consumer-testing activities may have to come together.
Other zoning assumptions such as buffers between residential and industrial areas may be in for a review, said Senior Minister of State for National Development and Education Grace Fu in an interview. She is also co-chair of the sub-group.
But increased zoning flexibility will come 'in a very targeted way', she emphasised. 'Zoning allows us to segment land use and therefore keep industrial land affordable. . . We are not talking about very broad-based changes in the zoning framework.'
There were also positive responses to having more wiggle room in land use and zoning. Colliers International research and advisory director Tay Huey Ying supported this, though she noted that 'it may make land valuation a bit more tricky'.
The government should also consider offering more types of business locations, the sub-group said. For instance, Gillman Village could become home to a creative cluster, while Lorong Halus could be a waterfront industrial park with more amenities and lush greenery.
The ESC sub-group further recommended that the government place greater emphasis on land productivity when deciding how to allocate land among various uses. For instance, it should track and consider indicators such as value-added and jobs generated per hectare.
As the other co-chair of the sub-group, Boustead Singapore chairman and group CEO Wong Fong Fui described: 'It is like you have a land budget for economic development and thinking about how to invest it to maximise the economic 'yield' from the land.'
The wide range of proposals is expected to have some impact on the upcoming Concept Plan 2011, but Ngee Ann Polytechnic real estate lecturer Nicholas Mak noted that 'it is still early days' to say how reviews would go. Changes should be gradual, he reckoned.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
BT : Sengkang bids signal moderation setting in
Business Times - 05 Feb 2010
Sengkang bids signal moderation setting in
But 10 bids suggest hunger for land intact; CDL tops with $365 psf ppr
By KALPANA RASHIWALA
THE government's move to turn on the supply tap for private residential land appears to be having an effect on developers' bids, property consultants said after the tender for a 99-year leasehold private condo plot in Sengkang closed yesterday.
The site, next to Sungei Punggol and in front of an LRT station, still drew a considerable 10 bids, suggesting that developers remain hungry for land, especially in the hot-selling mass-market segment.
The top bid by a City Developments Ltd (CDL) subsidiary - $200.5 million or $365.26 per square foot of potential gross floor area - was some 13 per cent higher than the next highest offer of about $322 psf ppr by a Far East Organization unit.
However, CDL's price was lower than the top range of bids, of up to $420 psf per plot ratio (psf ppr), that had been predicted by some consultants in late December, when the government announced that the plot had been triggered from its reserve list.
'We're probably moving to a more stable market. Developers are becoming more realistic; the government this week reiterated that there is sufficient supply from its Government Land Sales (GLS) Programme for first half 2010,' said CB Richard Ellis executive director Li Hiaw Ho.
The Urban Redevelopment Authority stressed that the number of private homes from the confirmed and reserve lists in the H1 2010 GLS Programme - 10,550 - is the highest in the programme's history.
Commenting on the outcome of yesterday's tender, Knight Frank chairman Tan Tiong Cheng said: 'Developers are still trying to secure mass-market housing land as shown by the number of bids but this time, at more sensible prices.'
Colliers International director Tay Huey Ying described the top bid as 'relatively realistic optimism on the part of developers' compared with market expectations as well as achievable selling prices for the project in about a year's time when it is likely to be launched.
Consultants estimate that based on CDL's bid, its breakeven cost could be about $650-760 psf and its target selling price around $750-830 psf. This price range is still higher than current prices in the area cited by consultants.
A CDL spokeswoman said that the plot, at the corner of Sengkang West Avenue and Fernvalue Link, is well positioned, directly in front of Layar LRT Station. If awarded the site, CDL, which is part of the Hong Leong Group, plans to build a 24 to 25-storey condo.
'This bid is in line with CDL's continued strategy to build value into, and replenish its landbank,' she added.
Assuming CDL is awarded the plot, it would mean that the Hong Leong group has clinched three out of the seven state plots (with private housing element) whose tenders have closed in the past six months.
Yesterday's tender, conducted by the Housing & Development Board, also drew bids from Frasers Centrepoint (about $322 psf ppr), Chip Eng Seng, Allgreen Properties and GuocoLand, among others.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Sengkang bids signal moderation setting in
But 10 bids suggest hunger for land intact; CDL tops with $365 psf ppr
By KALPANA RASHIWALA
THE government's move to turn on the supply tap for private residential land appears to be having an effect on developers' bids, property consultants said after the tender for a 99-year leasehold private condo plot in Sengkang closed yesterday.
The site, next to Sungei Punggol and in front of an LRT station, still drew a considerable 10 bids, suggesting that developers remain hungry for land, especially in the hot-selling mass-market segment.
The top bid by a City Developments Ltd (CDL) subsidiary - $200.5 million or $365.26 per square foot of potential gross floor area - was some 13 per cent higher than the next highest offer of about $322 psf ppr by a Far East Organization unit.
However, CDL's price was lower than the top range of bids, of up to $420 psf per plot ratio (psf ppr), that had been predicted by some consultants in late December, when the government announced that the plot had been triggered from its reserve list.
'We're probably moving to a more stable market. Developers are becoming more realistic; the government this week reiterated that there is sufficient supply from its Government Land Sales (GLS) Programme for first half 2010,' said CB Richard Ellis executive director Li Hiaw Ho.
The Urban Redevelopment Authority stressed that the number of private homes from the confirmed and reserve lists in the H1 2010 GLS Programme - 10,550 - is the highest in the programme's history.
Commenting on the outcome of yesterday's tender, Knight Frank chairman Tan Tiong Cheng said: 'Developers are still trying to secure mass-market housing land as shown by the number of bids but this time, at more sensible prices.'
Colliers International director Tay Huey Ying described the top bid as 'relatively realistic optimism on the part of developers' compared with market expectations as well as achievable selling prices for the project in about a year's time when it is likely to be launched.
Consultants estimate that based on CDL's bid, its breakeven cost could be about $650-760 psf and its target selling price around $750-830 psf. This price range is still higher than current prices in the area cited by consultants.
A CDL spokeswoman said that the plot, at the corner of Sengkang West Avenue and Fernvalue Link, is well positioned, directly in front of Layar LRT Station. If awarded the site, CDL, which is part of the Hong Leong Group, plans to build a 24 to 25-storey condo.
'This bid is in line with CDL's continued strategy to build value into, and replenish its landbank,' she added.
Assuming CDL is awarded the plot, it would mean that the Hong Leong group has clinched three out of the seven state plots (with private housing element) whose tenders have closed in the past six months.
Yesterday's tender, conducted by the Housing & Development Board, also drew bids from Frasers Centrepoint (about $322 psf ppr), Chip Eng Seng, Allgreen Properties and GuocoLand, among others.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
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