|New Executive Condo located at Segar Road (Bukit Panjang). Within minutes to Segar LRT Station and
near future Downtown Line Two Bukit Panjang MRT Station.
||Grand Isle Holdings Pte Ltd (CITY Developments Unit)
||30, 32 & 34 Segar Road
|Site Area :
||Approx 20,834.1 sq m/ 224,258 sq ft
|Number of units :
||602 residential units
Proposed executive condominium housing development comprising the erection of 2 blocks of 18-storey, 1 block of 16/18-storey apartments (total: 602 units) & 1 block of 5-storey multi-storey carpark with roof garden, common basement carparks & communal facilities.
carpark lots :
|Not less than 607 Carpark Lots
(inclusive of 5 handicap lots, 3 electric Car lots)
|Show Suite ID :
|Unit type :
- 2 bedrm/2 bedrm PES
- 3 bedrm/3 bedrm Balcony/3 bedrm PES
- 3 bedrm (Dual Key)
- 4 bedrm/4 bedrm Balcony/4 bedrm PES
- 4 bedrm (Dual Key)
- 3 bedrm Penthouse
- 4 bedrm Penthouse
- 4 bedrm Penthouse (Dual Key)
|Tenure of Land:
||99 years leasehold w.e.f 2nd March 2011
|Expected TOP :
||30 Nov 2014
Bukit Panjang EC site: CDL unit places top bid
Posted on December 3, 2010 by SgRealtySearch.com
CITY Developments (CDL) unit Grand Isle Holdings has emerged as
the top bidder for an executive condominium (EC) site in Segar
Yesterdayís tender results saw CDLís top bid of almost $182
million, or $271 per square foot per plot ratio (psf ppr),
coming in 15.5 per cent ahead of the second-highest offer of
$157.5 million, or $234 psf ppr, submitted by EL Development.
Three other bids were submitted Ė Opal Star and Lum Chang
Building Contractors sent in a joint offer of $128.3 million,
Pinnacle Realty bid $120 million, and Sim Lian Land came in with
the lowest tender at $113 million.
A CDL spokesman said the developer has plans to build a 15- to
17-storey EC on the 1,936 sq ft site and, if awarded, it would
be CDLís fourth EC project. Previous ECs developed by CDL were
The Esparis in Pasir Ris, The Florida in Hougang, and Nuovo in
Ang Mo Kio.
Located in Bukit Panjang, the 99-year leasehold Segar Road site
has a plot ratio of 3 and a maximum gross floor area of 5,806.6
sq ft. It can potentially yield an estimated 570 units.
Mr Joseph Tan, CBREís residential executive director, said CDLís
bid translates to a breakeven cost of $570 psf to $590 psf. He
added that there will be a market for the new EC project if it
is priced 20 per cent to 25 per cent lower than nearby private
condo Tree House, which sold at an average price of $830 psf in
the second quarter of this year.
ECs are a hybrid of public and private housing with ownership
and resale restrictions applying in the first 10 years, after
which they are fully privatised. Boasting private condo
facilities, they are an attractive housing option for buyers who
meet the eligibility criteria, including a monthly household
income ceiling of $10,000. Under the current Residential
Property Act, foreign developers are subject to the stipulated
project completion period of five years. This rule, however,
does not apply to local developers.