Tuesday, May 25, 2010

3 HDB DBSS sites to yield 1,590 units

THE Housing & Development Board will launch three sites under the Design, Build and Sell Scheme (DBSS) from June.

The sites can yield 1,590 flats in all. One plot, at Tampines Avenue 5/Tampines Central 8, will be rolled out next month and can accommodate an estimated 580 units.

The other two will be released in the second half of the year. Some 430 units can be built on a plot at Bedok Reservoir Crescent, and 580 on the parcel at Upper Serangoon Road.

The DBSS allows private developers to tender for state land to build public housing. They have flexibility in designing, pricing and selling the flats.

DBSS flats come with a 99-year lease and buyers have to meet eligibility criteria set by HDB.

In March, HDB had released a DBSS site at Yishun Avenue 11/Yishun Central. Yesterday it awarded the tender to a joint venture between Guthrie and SK Land, which put in the highest bid of $148.89 million or $180 per sq ft per plot ratio.

The site has a 103-year lease and can yield an estimated 700 units.

Besides the DBSS, HDB has been making more flats available through the build-to-order (BTO) scheme. It has launched 6,132 new BTO units since January.

Source: Business Times, 25 May 2010

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