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Punggol site bids below expectations

As published in The Straits Times
23 Sep 2010

By Jessica Cheam

Lower bids suggest cooling measures starting to have impact, say observers

A PUNGGOL executive condominium site tender closed on Thursday with four developers putting in bids below industry expectations.

The highest bid for the Punggol Drive plot was $136.2 million, coming from Qingdao Construction (Singapore) and working out to be $237 per sq ft (psf) - below the anticipated $250 to $290 psf predicted by analysts.

The bid was only 2.2 per cent higher than the second-highest offer of $133.2 million from Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

SLP International research and consultancy executive director Nicholas Mak noted that Qingdao's bidding price was 23 per cent lower than the amount paid by ChoiceHomes Investments and CEL Development for another exec condo site in Punggol Field earlier in June.

Industry observers say the tender results suggest that the Government's supply-side measures to cool Singapore's red-hot property market are beginning to have an impact on land prices.

For the second half of the year, the state has earmarked the largest potential amount of land for release since the start of the land sales programme in 2001.

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Punggol Plaza

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

Photo courtesy of Diavonex

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LRT Station
Coral Edge Station (PE3)
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Bus Services
3, 62, 83, 569, 581
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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
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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