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Yishun transport hub to open in 2019

Commuters in the north can soon look forward to the new Yishun Integrated Transport Hub (ITH), which will open by 2019. Northpark Residences, the condominium development sitting atop the ITH will also be opening for sales soon.

 yishun_mrt station

The Land Transport Authority said the new transport hub will comprise an air-conditioned bus interchange and an underpass linking the bus interchange to the nearby Yishun MRT station for more convenient and seamless transfers, as well as barrier free facilities.

Commuters can also look forward to more retail and commercial facilities, as the hub will be connected to a shopping mall.

The new transport hub joins seven existing ones located in Ang Mo Kio, Bedok, Boon Lay, Clementi, Serangoon, Sengkang, and Toa Payoh. Two more hubs are slated to open at Joo Koon and Bukit Panjang in 2015 and 2016 respectively.

Yishun’s new transport hub will have features such as LED lighting for the concourse and bus-park/driveway areas and a water-cooled air-conditioning system in accordance with the Building Construction Authority’s Green Mark Gold Plus standard.

Bus drivers and staff can look forward to a a larger staff lounge, dedicated staff toilets, kitchen facilities and a staff canteen.

To make way for construction of the new Yishun Bus Interchange on the existing site, the existing bus interchange will be temporarily relocated to an adjacent site at the junction of Yishun Central and Yishun Central 1. Operations at the temporary Yishun Bus Interchange will start on 14 March 2015.

With 19 public bus services1 operating out of the interchange, LTA will provide enhanced facilities such as a larger concourse, more commercial and retail areas, and better facilities for drivers. There are also fully sheltered connections between the bus interchange and Yishun MRT station. Temporary bus stops will be provided to continue to facilitate transfers to the Yishun MRT station.

Details of changes to bus routes as a result of the move to the temporary Yishun Bus Interchange are available at www.smrt.com.sg and www.sbstransit.com.sg.

(Source: The Straits Times)

 
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Posted by on March 3, 2015 in Residential

 

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Over 7,500 HDB flats launched in latest sale

THOSE eyeing new flats in mature estates will have a wealth of options after the Housing Board launched its latest round of flat sales yesterday.

Over 7,500 units under the Build-To-Order (BTO) and Sale of Balance Flats (SBF) schemes went on sale, with 3,028 located in the sought-after mature estates.

meadow spring @ yishun

Of the 4,277 BTO units put on sale across six projects in Tampines, Sengkang, Sembawang and Yishun, 1,947 are located in two projects in the upcoming Tampines North district.

Flat buyers are likely to make a beeline for these units given that they are located in a mature estate, experts said. “All the linkages and facilities there are already established,” said ERA Realty key executive officer Eugene Lim. “The value of flats there is also likely to hold in the resale market.”

One of the projects, Tampines GreenRidges, will offer 3Gen flats for multi-generation families – a first for a mature town. Prices of these flats start at $407,000 without grants, and $397,000 with grants.

Also on sale are 3,291 SBF units, which span both mature estates like Bukit Merah and non-mature estates such as Punggol. SBF units are either balance flats from earlier BTO launches, surplus Selective En bloc Redevelopment Scheme replacement flats, or repurchased flats.

Changes to the Married Child Priority Scheme are kicking in with these launches. Announced last week, the enhanced scheme will set aside up to a third of new flats for married children and their parents who apply to live with or near one another.

Priority will be given to two groups under the scheme: Parents and married children who apply to live under one roof, and parents who own flats in mature estates and apply for BTO flats near their married children in non-mature estates.

But this is unlikely to drive up demand significantly for 3Gen flats and flats in non-mature estates, said experts.

“A lot of elderly parents live in mature estates and would not want to uproot themselves,” said R’ST Research director Ong Kah Seng, adding that the take-up for 3Gen flats might be lukewarm as many young couples prefer privacy.

“There is also the perception that 3Gen flats might be too small.”

As of 5pm yesterday, the overall application rate for the Tampines BTO flats was 0.4, with 825 applicants going for 1,947 units.

Personal financial consultant Eddie Su and his fiancee Cheryl Ng, both 25, are looking to buy a five-room SBF unit in Tampines.

“We are getting married next year so we want our own place sooner,” said Mr Su, referring to the shorter waiting period for SBF units compared with BTO flats.

The latest launch brings the number of new flats put up for sale this year to 29,129, down from 33,568 last year.

Applications have to be submitted by midnight on Dec 1.

(Source: The Straits Times)

 
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Posted by on November 27, 2014 in Residential

 

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China developers lead bids in potong pasir tender

A state tender for a commercial and residential site next to Potong Pasir MRT Station has surprised the market with a whopping 15 bids, with strong participation from the China contingent.

The top four bids were cast by China/Hong Kong players (including one who teamed up with a Singapore developer). The China players generally have a more optimistic view of the Singapore property market compared with Singapore developers.

Local players, on the other hand, generally cast more measured bids. City Developments was the the fifth highest bidder yesterday at S$716 per square foot per plot ratio (psf ppr) – much lower than the S$793 psf ppr it paid back in September 2012 for the nearby Tai Thong Crescent site, which is zoned for residential use with commercial space on the first storey and now being developed into The Venue Residences and Shoppes.

china developers lead bids in potong pasir tender

The latest site, at Meyappa Chettiar Road, is considered to be choicer as it is right next to the MRT station and has a bigger commercial component.

“It’s like the top four bidders don’t see any softening in the market,” said a market watcher.

Top bidder MCC Land’s bid of S$471.62 million translates to a unit land price of S$775.17 psf ppr.

The market watcher said: “They’re probably looking to sell the residential units at an average price of above S$1,400 psf and retail units at around S$4,000-5,000 psf.”

MCC’s bid was just 2.4 per cent above the second highest bid of S$756.73 psf ppr by Best Desire Investments, understood to be controlled by Li Ka-shing’s Cheung Kong Holdings. Bo An Investments – controlled by Wang Mingsong, a Singapore permanent resident said to hail from China – teamed up with local player Santarli to place the third-highest bid of nearly S$751 psf ppr. Santarli is developing the Sant Ritz condo diagonally opposite the site.

In fourth position was a Singapore unit of China’s Nanshan Group. The Longkou City, Shandong-based group is involved in a range of fields, such as finance, high-tech industries, property and education.

Greenland Group, a state-owned mega enterprise group in Shanghai, partnered Singapore group Amara Holdings’ unit TTH Development to make an offer of nearly S$699 psf ppr.

MCC, a unit of state-owned Metallurgical Corporation of China or MCC Group, said that it plans about 700 homes and 60 retail units in a “signature landmark” project in Potong Pasir. It expects to launch the development in the second quarter of next year. This will mark its first mixed-use property development in Singapore. Its earlier projects are purely residential.

The lowest bid, from Tennessee Investments, said to be a joint venture between BBR Holdings and SP Tao’s Shing Kwan, was S$401 psf ppr.

The 1.6 hectare land parcel can be developed into a 13-16-storey project with a a maximum gross floor area (GFA) of 56,523 square metres (608,408 sq ft). Of this, a maximum 5,000 sq m – or 8.8 per cent of the total GFA – can be for commercial use. This includes a 500 sq m cap for restaurant use – due to traffic congestion issues.

The project’s residential component can generate an estimated 685 homes. “Since 91 per cent of the GFA will be developed into residential use, the development cost will be mostly influenced by the residential space,” said Nicholas Mak, SLP International executive director. CBRE’s Singapore research head Desmond Sim said that the number of bidders “proved that developers still need to replenish their landbanks to ensure that the core business is sustainable”.

Contrasting the strong turnout at yesterday’s tender with the dismal showing of just three and four bids each for a pair of private housing sites in Fernvale Road in Sengkang earlier this month, an analyst said: “Developers are selective, making a beeline for attractive sites close to town, especially if there is an added sweetener in the form of a commercial component, while eschewing plain-vanilla, suburban housing sites, especially in saturated locations like Sengkang.”

Source: The Straits Times

 
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Posted by on August 20, 2014 in Government Land Sales

 

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Nearly 4,000 new flats on offer

Nearly 4,000 new flats on offer

Punggol units could see more buzz than those in Sengkang, Bukit Batok

 
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Posted by on March 23, 2013 in Residential

 

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