The Straits Times

 

7 June 2007

 

CONSORTIUM TO BUILD CONDO-LIKE FLATS

 

A CONSORTIUM linked to contractor Straits Construction was yesterday picked to develop the second public housing project to be built and sold by the private sector.

 

Straits Construction subsidiary Hoi Hup Realty, Sunway Concrete Products and Oriental Worldwide Investments emerged as the front runner in the tender last month for a 1.8ha site in Boon Keng Road where the project will be located.

 

Its bid of $170.2 million was about 30 per cent more than the next highest bidder, Sim Lian Land, which is building the first such project under this scheme in Tampines.

 

Under the programme, which aims to create more variety in housing types, private developers get to design, build, price and sell flats.

 

These homes can be bought only by those eligible for public housing, which means that buyers' monthly household income cannot exceed $8,000.

 

On the flip side, buyers can use government housing grants to offset the cost of these flats.

The consortium will have to set aside at least 30 per cent of the flats it builds for four-room or smaller units.

 

Hoi Hup said last week that the project, which could have about 600 to 700 homes, can be launched within six to nine months.

 

The first such development, The Premiere@Tampines, drew close to 6,000 applications for its 616 units.

 

The homes came with condominium-like features, such as generous balconies, floor-to-ceiling wardrobes and air-conditioning units. They are expected to be ready by 2009.