Skip to main content

Punggol EC site awarded

As published in The Straits Times
17 June 2010 (Thursday)
THE Housing Board has awarded the Punggol site for Executive Condominium housing to ChoiceHomes Investments and CEL Development, which jointly submitted the top bid of $223.7 million.

The winning firm is a joint venture between NTUC Choice Homes Co-operative and Chip Eng Seng, which plans to develop the 99-year leasehold site at the junction of Punggol Field and Punggol Road into a 17-storey, 600-unit project with full condo facilities. Its tender bid works out to $308 per sq ft per plot ratio (psf ppr) for the 22,497 sqm site.

Five bidders made a play for the site near Punggol MRT station, after it was triggered for sale with a minimum offer price of $147.7 million.

NTUC Choice Homes will hold a 60 per cent interest through its subsidiary Choicehomes Investments while Chip Eng Seng unit CEL Development will hold 40 per cent.

Their winning bid is about 50 per cent higher than the trigger bid of $147.7 million and about 4 per cent above the second highest bid of $296.3 psf ppr from Hoi Hup Realty and Sunway Developments.

China-based Qindao Construction was next with $280.5 psf ppr.

The Punggol site is the fourth EC tender this year. The previous three had attracted seven to seven to 11 bids.

Comments

Popular posts from this blog

Punggol Plaza

168 Punggol Field #02-08A Singapore 820168
Tel: 6343-8293

Photo courtesy of Diavonex

Parking Fees
First Hour Free
$1 for each subsequent hour

LRT Station
Coral Edge Station (PE3)
Click here for Punggol LRT post.

Bus Services
3, 62, 83, 569, 581
Click here for Punggol Bus Directory post.


Free Punggol Plaza Shuttle Bus Service

Route 1: Punggol Plaza → Punggol MRT
Operating Hours: Daily (0650-2200)
Frequency: 20 min
(Between 0650-1430, 1500-2200 except 1430, 1520, 1600, 1640, 1720, 2020 on Weekdays and 1150, 2120 on Weekends)

Route 2: Punggol Plaza → Sengkang MRT
Operating Hours: Daily (0710-2200)
Frequency: 25-30min(Between 0710-2120 except 1415, 1535, 1655 on Weekdays)
Frequency: 20 min(Between 2120-2200)


Related Posts:
Punggol Plaza - Shuttle Bus Schedule
Punggol Plaza - Tenants List


Shuttle Bus - Punggol Mrt / Punggol Plaza

Punggol BTO Project Details

BTO ProjectBlock No.Release DateCompletion DateNo. of UnitsInitial Launch PriceEdgedale Green632A-C, 633A-B, 635A-C, 636A-BDec 2002Dec 2006582$141,000 - $170,000Periwinkle195A-EDec 2002Dec 2006450$152,000 - $183,000Sundial167A-D, 168A-D, 169A-DSep 2003Sep 2007425$138,000 - $178,000Punggol Anthias
(cancelled)612A-D, 613A-DDec 2004-134$101,000 - $185,000Coralinus 1301A-C, 303A-CJun 2005Jun 2009369$169,000 - $206,000Coralinus 2301D, 303D, 302A-DFeb 2006Feb 2010365$182,000 - $220,000Treelodge305A-D, 306A-DMar 2007Mar 201198$139,000 - $383,000Punggol Vista601A-D, 602A-CAug 2007Aug 2011105$75,000 - $227,000Punggol Lodge603A-D, 604A-COct 2007Oct 201152$122,000 - $234,000Damai Grove
(Punggol Anthias)612A-D, 613A-DDec 2007Dec 201162$123,000 - $240,000Punggol Spring614A-B, 615A-CFeb 2008Feb 2012476$204,000 - $259,000