Business Times - 08 Dec 2004

Redhill, Tanah Merah sites available in H1 2005

By KALPANA RASHIWALA

TWO fairly attractive residential sites - one next to Redhill MRT Station and the other near Tanah Merah MRT Station - will be made available to developers through the reserve list in the first half of next year.

The Redhill MRT Station plot is across the road from the Tanglin Regency and Tanglin View condos. It can be developed into a 375-unit condo. Property consultants expect it to fetch about $280-$300 per square foot per plot ratio.

The 0.93-ha site has a 4.9 plot ratio, or ratio of potential gross floor area to land area.

The 2.2-ha Tanah Merah parcel is next to the East Meadows condo. The site can potentially accommodate 510 condo units and has a plot ratio of 2.8.

Analysts say it could fetch about $220-$270 psf ppr.

The two sites are among four new 99-year leasehold land parcels that will be introduced to the reserve list for H1 2005.

The other two are prime sites above Orchard MRT Station (for commercial development) and the Glutton's Square carpark site next to Specialists' Shopping Centre/Hotel Phoenix. The latter can take a commercial/residential project, or a hotel.

Another 14 plots in the reserve list for the current half-year will roll over to the first six months of next year.

Under the reserve list, a site is released for tender only if there's demand for it. Specifically, the state must receive at least one application from a developer with an undertaking to bid at a minimum price which the government finds acceptable. Since October 2001, this has been the only channel through which the government has been making available land for development in the face of a property glut.

Under the government's confirmed list sales procedure - which remains frozen - sites had been released for tender according to an announced schedule regardless of the level of interest in the sites.

Chesterton International's director Nicholas Mak notes that although the government is continuing to make available land for H1 2005 solely through the reserve list system, the potential number of homes and commercial space that could be developed from the sites is higher than that for the current half-year.

The 18 reserve sites for H1 2005 can generate about 3,300 private homes and 325,000 sq metres of commercial gross floor area (GFA). This is against 2,600 homes and 242,000 sq metres commercial GFA that could be developed from the sites offered for H2 this year, he added.

Besides this increase in potential supply, the spread of offerings is now also more appetising, which should raise the likelihood of developers making successful applications for many of the sites, he added.

The National Development Ministry said yesterday that in deciding not to release sites through the confirmed list for H1 2005, it had reviewed market conditions and the sites to be made available through the reserve list for the period.

Developers were a merry bunch yesterday. A CapitaLand spokesman said the 'reserve list system has served the needs of the market well through its ability to vary supply according to demand'. The government's decision to continue making sites available through the reserve list will 'enable the market to respond more flexibly in its recovery process', he said.

A spokesman for City Developments said the move will 'allow more time for the Singapore property market to recover'. 'Our recovery is still far behind that of neighbouring countries.'

The Real Estate Developers Association of Singapore also welcomed the government's decision. 'Redas appreciates the government's pro-business approach in its policy review,' it said.

Copyright © 2004 Singapore Press Holdings Ltd. All rights reserved.

Bt Merah condo site seen going for up to $164m

8 Jun 05

Reserve list plot made available for application yesterday

By KALPANA RASHIWALA

MARKET watchers expect a reserve-list condo site next to Redhill MRT station, made available for application yesterday, to fetch as much as $164 million.

http://business-times.asia1.com.sg/mnt/media/image/launched/2005-06-08/080605_krstle8_pg5.gif


This works out to about $320 per square foot of potential gross floor area for the 99-year leasehold plot, which can be developed into a condo up to 40 storeys high and comprising about 400 units averaging 1,200 sq ft.

The closest benchmark is a condo plot near Tiong Bahru MRT Station, one station away, which was sold to MCL Land for $301 psf per plot ratio (psf ppr) in a state tender that closed in March 2003. That tender was hotly contested with 12 bids - and on the same day, the US-led coalition began its invasion of Iraq.

The latest parcel, which has a land area of 104,862 sq ft, has not been released for sale yet. As a reserve-list site, it will be tendered when a developer undertakes to bid at a minimum price acceptable to the state.

A 'reasonable bid', said Jones Lang LaSalle Singapore managing director Yu Lai Boon, would be about $260-280 psf ppr, based on transacted prices for 99-year condo projects in the area of about $600-650 psf and factoring in a double-digit profit margin.

'Of course, a more aggressive player may bid closer to $300 psf ppr, but it would be working on a smaller margin,' he added.

Knight Frank director (consultancy & research) Nicholas Mak believes the top bids for the site could come in around $300-320 psf ppr, and that, based on this, a new condo development is likely to break even around $530-550 psf.

Last year, MCL Land launched MeraPrime condo, which it is developing on the site it bagged in the 2003 tender, at an average price of about $600 psf.

The latest site near Redhill MRT Station is opposite two completed 99-year condos - Tanglin Regency and Tanglin View. The average price for resale transactions last year at the former was about $570 psf, while at the latter, which is newer, units have changed hands for about $660 psf on average in the past six months, Mr Mak said.

He reckons that one drawback to the latest plot is its irregular shape. Also, it is just too close to the MRT track. 'But on the positive side, the site is not too far from the embassies in the Tanglin area, which could help create some investment appeal for end units in the project,' he said.

i really wouldnt mind living so near an mrt track.. hope this one turns out nicer than meraprime. something like the trumps would be magnificent.

Trumps in NY?

Trumps in NY?


haha! you joker! i think he meant the trumps at kembangan MRT.

that was a good one... NYC and kembangan are literally worlds apart. :)

LOL

yah I half-guessed it cant be the NY one...in any case..didnt know Kembangan had its own Trumps :bash:

05 October 2005

URA to launch tender for residential site next to Redhill MRT
By Loh Kim Chin, Channel NewsAsia

SINGAPORE : The Urban Redevelopment Authority will be launching the tender for a residential site at Alexandra Road and Tiong Bahru Road two weeks from now.

This was after accepting a bid from an unnamed developer, who has committed to bid not less than S$102.8 million for the site.

Located next to Redhill MRT station, the residential site has a gross plot ratio of 4.9 to yield a maximum gross floor area of nearly 48,000 square metres.

The cost of the land works out to around S$200 a square foot of built-up space.

This translates into a break-even cost of about S$450 per square foot for the developer.

An estimated 390 units may be built on the 99-year leasehold site. - CNA /ct

Copyright © 2005 MCN International Pte Ltd

43-storey tower for Redhill :)

CapitaLand-Lippo bid for condo site near MRT is tops

17 Nov 05

Offer of $180m is 5.6% above second-highest bidder MCL Land

INDONESIA'S Lippo Group and Singapore's CapitaLand have joined forces for a first joint property bid here, emerging as top contender yesterday for a 99-year condo site next to Red hill MRT Station.

Their bid of almost $180 million, or $350 psf of potential gross floor area, was higher than market expectations and 5.6 per cent higher than the second-highest offer, by MCL Land.

In all, the tender attracted 12 bids. Bidders included NTUC Choice Homes, GuocoLand, Centrepoint Properties and City Developments.

Analysts attributed the strong turnout, as well as the bullish top bid, to a scarcity of 99-year leasehold suburban residential projects and a resulting strong appetite among developers.

A CapitaLand spokesman said yesterday that the 50:50 tie-up with Lippo plans to build a 43-storey condo with about 380 units.

While this is the first time the two have teamed up to bid for a site here, they have done business together previously. Ferrell Premier Real Estate Investment Fund - which has links to Lippo's controlling Riady family - has bought a stack of units in the RiverGate condo being developed by CapitaLand and Hwa Hong on the former TradeMart site along the Singapore River.

On the bullish top bid in the state tender for the Redhill site fronting Alexandra and Tiong Bahru roads, Lippo Realty (Singapore) executive director Thio Gim Hock said: 'We believe in the area, so we were aggressive. Don't forget, the site is next to an MRT station and there are a lot of HDB upgraders in the location who can be potential buyers for this project.'

Market watchers said the project will break even at about $550 psf.

'Current average selling prices of 99-year condos in the area, like MeraPrime and Tanglin View, are about $600 psf-plus. At the height of the market, it used to be about $900-$1,000 psf. The market is down now but we believe it will pick up,' Mr Thio said.

The project is expected to be launch-ready by the end of next year, he added.

Mr Thio also reiterated the group's ambition to enlarge its footprint on the Singapore property scene. It continues to scout for more residential and commercial sites.

'We'll be in Orchard Turn for sure,' he added, referring to the tender for the plum site above Orchard MRT Station being offered by the Urban Redevelopment Authority in a tender that closes on Dec 8.

There are currently no plans for Lippo to team up with CapitaLand for that tender, according to Mr Thio.

Yesterday's top bid of $350 psf per plot ratio is about 16 per cent higher than the $301 psf ppr that MCL Land paid for a condo site near Tiong Bahru MRT Station, one stop away, in a state tender that closed in March 2003.

The latest bid is also higher than the $308 psf ppr that NTUC Choice Homes paid for a commercial/residential site next to Yew Tee MRT Station that closed in September this year.

CB Richard Ellis executive director Soon Su Lin said the strong top bid for the Redhill site reflects current more favourable market conditions and the site's attraction as a city-fringe location.

'The exceptionally high 4.9 plot ratio (ratio of potential gross floor area to land area) and a potentially strong upgrader market from the HDB estates in the vicinity are attractive attributes for this site. HDB flats in the Bukit Merah area typically (fetch) among the highest prices in the HDB resale market,' she said.

She also observed that only 10 per cent of new launches in 2005 consisted of 99-year suburban projects. 'This dearth of mass-market residential projects is expected to continue with less than 1,500 units of 99 year mass-market projects expected to be launched in the next six months,' she said.

http://business-times.asia1.com.sg/mnt/media/image/launched/2005-11-17/307125917_11_2005.jpg

Wow, that's cool :-) I think this is the first 43-stories plot awarded outside of the historical centre... It will be among 20 and 30 stories blocks so it's really gonna look tall !

historical centre?

historical centre?

I think he means first 43-storey condo built outside the city centre, although I disagree as Citylights at Lavender is also outside the CBD ;-)

I had similar thoughts too. but, give him a chance to explain. :)

of course, anyway Lavender is really very close to the CBD, on the outskirts I'd say :yes:

I might guess outside the boundary of the original, historic 'Singapore Town'? :D

Ah, right, I forgot Citylights :-)

Lippo's condo project at Redhill MRT is about to start.
The site is fenced and some light equipment moved in. They started building what I believe will be the workers barracks.

The project site, as of 22 May, looks like this.

http://img100.imageshack.us/img100/2673/dsc06603vf.jpg

^^

that looks like construction of a showroom

most likely. It's just next to the MRT station. very accessible.

wah! very strategic location .... but will it be noisy?

^ This noise issue was discussed before.

It's a matter of getting used to.

hmmm...The MRT station is particularly loud though...heh

hmmm...The MRT station is particularly loud though...heh

Surprisingly, there are high-rise HDB flats next to it and they are selling like $300+k for new 4-br units.

wah! very strategic location .... but will it be noisy?

Been living 150m away from the site for a while and I can tell you this location's gonna be VERY noisy.
Sandwiched between the MRT track and Alexandra Road, plus Tiong Bahru Road and the MRT station itself. But this is gonna be nothing compared with the chinese drums and other loud traditional music that gets played every now and then around the area ^ ^ There's currently a tent near the MRT station and they were playing drums today... I can tell you it's damn noisy even from the 30th floor of those HDBs Hya mentioned ^ ^

Hopefully the windows will be top quality ;-)

Lippo's condo project at Redhill MRT is about to start.
The site is fenced and some light equipment moved in. They started building what I believe will be the workers barracks.

What's the name, how tall? :banana:

Someone start new thread on it! :D

I don't know the name, I think it's 43 storeys tall.

Woah, tall.... :)

i thot Lippo's condo will be near newton circus one? got another one in redhill ar?

^^

yup...Lippo & Capitaland jointly bagged the Redhill site :)

I intially thought it was a hawker centre u/c. =P

The Redhill Hawker centre is actually finished for about one year already. It is known as block 85 I think, it's another side of the road from Redhill MRT.

i thot Lippo's condo will be near newton circus one? got another one in redhill ar?
cannot recall where i read the article, but think lippo also bagged a site along bukit timah rd, near balmoral.

Structure of the showflat was seen ready. However, would probably need another 2 - 4 weeks to ready the showflat for launch. The windows at the showflat seemed small though.

Here's a picture of the land where the 43 storey condo will rise.
http://i65.photobucket.com/albums/h204/hyapic01/DSC_2438.jpg

this will be another interesting project. Lippo is certainly showing keen interest in the s'pore property market. so far, most (maybe all) their projects has been in the "high end" market (e.g. newton one, un-named project next to cosmopolitan).

i wonder what sort of development (high-end, in-between or mass market) this new condo project at redhill will be? lippo - capitaland partnership. does anyone have insider news to share? i'm guessing that it might be a "mixed" development that will include some sort of mall and soho units apart from the condo appartments. this will be an eye-opener especially a development of this scale (43 stories) and it may set new benchmark pricing and market watchers will be taking note.

from the earlier postings, it looks like condo appartments will be priced higher than nearby MeraPrime in bt ho swee/tiong bahru area.

I feel that it's too near to the tracks. As in too noisy and the issue of privacy...

It all depends on how they play their cards. Sometimes a really clever developer can turn something into "high class" just by declaring that it is high class and setting the prices accordingly --- Scotts highpark is a good example. Not a particularly good location, squeezed by nearby buildings, yet all they had to do was set ridiculously high prices....and people are willing to pay! But in this case, so close to HDB-land, they will have their work cut out for them.

in my opinion, the scotts highpark is a little different as compared to the lippo / capitaland development at redhill. the main difference - one is in a prime area, right smak on scotts road and the other at bt merah (redhill). i agree with Suipalucsea that redhill is considered hdb-land and the scotts highpark is located in a site that is rather packed like what Suipalucsea mentioned. however the difference is its scotts highpark is definately in a very good location. i'm not sure if the developer has started launching this new project yet but i'm sure the prices will be eye popping as compared to the redhill development by lippo / capitaland. just my 2-cents.

This project will be launching very soon (according to my marketing dept). Still finalizing the details before i am given more information about it... But what i can say, if u r really looking at prime units, its good to be in for the private preview. You will be the first to grab the better units compare till the official launch date... ( Anyone interested to view this project during the private preview?)

Wow, that's cool :-) I think this is the first 43-stories plot awarded outside of the historical centre... It will be among 20 and 30 stories blocks so it's really gonna look tall !

Just for curiosity, how many floors is Queens and Bishan Loft? They look pretty tall, but I wouldn't think that they are >40 floors.

Just for curiosity, how many floors is Queens and Bishan Loft? They look pretty tall, but I wouldn't think that they are >40 floors.

I think bishan loft is 40 storeys

I think bishan loft is 40 storeys

Bishan Loft is 30 storey tall. Its ceiling height per floor is higher than neighbouring HDB flats which explains its unique height in Bishan area.

does anyone knows when lippo will be starting previews or softlaunch for this project in red-hill?

an interesting project to look at given its mix of residential and retail spaces that is so near the mrt tracks. i think there's another one launching in yew tee (ntuc choice homes) similar to this also.

i'd love an apartment that near to the mrt station - noise is not a problem; its up to the developer or owner to soundproof the apartment if noise really is an issue. the convenience is unbeatable. perhaps there could be a mall podium.

Hi people
Queens is 38 storeys; and this new coming one is called Alexandra Rise (380-unit development). Walked past the site yesterday, the showroom is like pretty much done up. There is a stipulated height control of 153 AMSL; which approximates to 38/39 stories at max.
Capland and Lippo might just want to see how The Regency perform before launching Alexandra Rise...at the bullish take-up over at Regency, they should be quite ready in for a profit.:-)

what is the average psf anyone?? thanks

what is the average psf anyone?? thanks

$800+

$800+?? That’s very expensive for a 99yr project that is targeted at the HDB-upgraders, IMHO.

then it makes Regency@TB a better buy... closer to the city, nearer to a mall, and freehold...

ya if redhill one is 800 then i think The Regency is relatively more attractive. went to the later's showflat yest. average selling prices so far they claimed was 850.. true enugh from the 'red dot' boad they had only had some 10units left. But must say the showflat was only so-so finishings were not great and rooms were quite small as well. thought the regency suites is better.

hv been to the showflat for both the regency@tb and regency suite. give me the feeling that the 'look and feel' of both floor plan and designs are basically the same.

hmmm... could it be due to the fact that both projects are by the same developer?

I thought rengency suites better. haha ya, similar design, feel even teh names all the same twin regency, the regency, regency suites. yawn.

Its rather obvious that UOL seem to like the word Regency in naming their projects.

Likewise MCL likes to use the Mera word in naming theirs. Mera East, Mera Springs, Mera Prime, Mera Gardens, Mera Terrace.

Of late developers are also using the "@" very so often. Also the word “Residences” is used pretty often.

UOL is the developer for these projects - Twin Regency (TR), Regency Suites(RS), Regency@Tiong Bahru (R). All within the Tiong Bahru neighbourhood.

UOL is also the developer for Newton Suites (NS) and Southbank (SB).

All are freehold properties except for SB (leasehold).

TR was launched in mid-2004 and was averaging S$650 psf.
RS was launched in mid-2005 and was averaging S$750 psf
R was launched in Oct 2006 and was averaging S$850 psf

NS was launched in 3rd quarter 2004 and was averaging S$870 psf
SB (leasehold) was launched in mid 2006 and was averaging S$750

SOHO units are available in both SB and RS but they were pricier.

Just for comparison, MeraPrime (MP) a leasehold project by MCL at near-by Bt Ho Swee was going at an average of S$580 psf in 1st quarter of 2004.

All the UOL projects were sold out very quickly. Within a couple of weeks after the project launch, its all gone. In fact street wise buyers were already booking their units during the preview and softlaunch. Choice units were also reserved for UOL folks (family/staff, etc.) themselves. The Regency is now probably > 90% sold (I hear there's only 10 or less units left).

Prices on the whole has move up. It has filtered from the high-end (> $1000)to the mid-tier ($700 - $1000) segment. What's left to be lifted is the low-end and HDBs. This segment has stubbornly held its ground.

To be fair, the last 2 years (2004 - date), there were lots more high-end and mid-tier property launches. There were hardly any low-end or EC launches. There weren't alot of choices and HDB upgraders, etc. could only hold back given the limited opportunities.

There were a couple of good reports from ST and CNA about the sentiment of the property arena in S'pore in the last couple of days. It seems that everyone is anticipating the bottom segment to finally move in tandem with the rest. The bullish economic numbers have been an encouraging factor fueling this anticipation. We now await developers with property launches in the lower-end condo and also the design, order, build, sell scheme of the HDB. It will be interesting to watch as the overall situation as it unfolds moving towards the end of 2006 and approaching 2007. If the mass market segment overcomes its stagnant inertia, then, I believe we are going to see a property boom.


Just my 2 cents.

CapitaLand, Lippo set to launch Redhill condo

3 Nov 06


CAPITALAND and Lippo begin previewing their 45-storey The Metropolitan Condominium next to Redhill MRT Station this weekend. Sources say the price has yet to be finalised but is expected to average between $750 per square foot and $800 psf.


The developers are building the 99-year leasehold project on a site that they clinched at a state tender which closed in November last year. Their nearly $180 million top bid worked out to $350 psf of potential gross floor area. Analysts estimate The Metropolitan Condo's break-even cost at about $550-580 psf.

The development will comprise two blocks which will be linked at at the sky gardens level. Units on upper levels are expected to boast scenic views of the Tanglin/Jervois Good Class Bungalow area.

The project will comprise 382 units in total. The bulk of the units are two- or three-bedroom apartments.

Property industry observers are keenly watching the final price CapitaLand and Lippo decide on for the latest indication on the health of the 99-year leasehold suburban condominium market.

UOL and United Industrial Corporation are currently said to be achieving an average price of $850 psf for their 35-storey The Regency at Tiong Bahru freehold condominium at the former Bo Bo Tan Gardens site near Tiong Bahru MRT Station (one station away from Redhill MRT).


By KALPANA RASHIWALA

no800psf fr 99-yr leasehold not cheap.. redhill is closer to tanglin area i guess... for those in forum - do you guys think rehill/tiong bahru is better?

Metropolitan sounds underground to me ^ ^

@reneewy: there's not much difference between the two, honestly. Both are quite dense and old estates, quite central, but Tiong Bahru has a modern and relatively large shopping mall which Redhill doesn't have. Redhill is closer to Tanglin/Orchard but Tiong Bahru is nearer to Harbourfront and the CBD.

no800psf fr 99-yr leasehold not cheap.. redhill is closer to tanglin area i guess... for those in forum - do you guys think rehill/tiong bahru is better?

I really do not know what price the developer will be launching, might be lower then 750psf, depending.... Anyway, that area is in alexander, I mean the project address, funny but when it comes to Brand? Like well Bukit Timah is higher prices then Dunearn Rd. What do u guys think??? As for where is better Redhill or Tiong Baru, guess depends on individual. But Regency left with all the not so good units. Tomorrow 4th, the 1st day of the launch at Redhill opps Alexander should see all the good units snap up. The property market is getting crazy.

I think Tiong Bahru is more prime than Redhill definitely. It is nearer to CBD, Harbourfront, Orchard & Singapore River. It has a Tiong bahru Shopping Centre and is also near to Great World City. Yes, Redhill is nearer to Tanglin but is it considered an advantage ?

Was at the showflat this afternoon. Boy, the place was selling like hotcakes. All the 2-bedders released for sale were sold out. Many agents queued overnight with clients’ blank cheques yesterday.

The showflat will be closed after today and reopens next weekend, releasing the rest of the units, I think. Overnight queuing is expected for next weekend’s opening.

The selling points? I guess the opening up and use of the Alexandra Road name instead of Redhill; its proximity to the Redhill MRT station; and attractive payment scheme and discounts.

The lowest psf is about $650 and the highest is about $900+ for a better layout 2-bedder.

think cos of the name Lippo group.

Queue overnight? How true is it? Could it be a marketing tactic by the developer?

the madness of overnite(s) and long queues of the mid-1990s are back? i just can't believe it. it will be interesting to watch the progress of this project's take-up rate in the next couple of week(s).

in an earlier report, the regency (freehold) averaged about S$850 psf. meraprime (leasehold) in tiong bahru was selling at an average of S$580 psf in the 1st qtr of 2004.

there is news that this project - The Metropolitan (leasehold) will average $750 - $800 psf. at this price range, this will definately not be within your average hdb upgrader domain.

in the last 2 years, it is obvious that projects in the 9, 10 and 11 have escalated between 40-50%. now the prices of city fringe projects are escalating to probably 20-30%.

lets see how the bottom rung condos and hdbs will perform in the next half to 1 year. will they also pick up?

just my 2 cents.

Well, first of all, not all project launches are met with such frenzy.

For Metro, and as with most other projects, not all units have nice views and not all units are created equal.

Take for example one of the 2-bedders – for 775 sq ft, you get 2 bedrooms and a huge balcony with a planter! It’s very bad layout. To me, a 2 bedders should have at least 900 sq ft of living space.

Units are going for as low as $650psf to over $900psf for a particular type of 2-bedders. If I’m not wrong, a better layout 1,033 sq ft unit on the 39 floor was sold for $965,000 ($934psf!?!?!). Those who bought those units, had agents holding their blank cheques queuing outside the show flat on Saturday night.

Agents expect the same queuing this Friday night for those 5 units left, on 40 floor and above.

I’m not an interested party nor have I bought any units there or anywhere else for the past 2 years. Just a kaypoh guy who’s sharing what he saw, heard and experienced first hand… :D

Based on those prices ($934psf), Icon seems to be way undervalued, given its superior location and same convenience to MRT minus the unsightly train tracks.

CapitaLand sells 188 units of new condo in 2-day preview

6 Nov 06

DEMAND for a new condominium in Alexandra Road was so strong that a queue of more than 100 home-buyers started forming at 3am on Saturday.
Developers CapitaLand and Lippo Group saw 188 units at their Metropolitan snapped up during the weekend preview - more than the 180 units they had originally intended to release at this stage.

This makes the 99-year leasehold condo one of the best-selling in a single weekend this year, beating The Centris in Jurong, which saw about 150 units sold in its three-day preview weekend in September.

Although it still ranks behind The Sail @ Marina Bay, which sold 250 units in a single day last year, the intense interest in The Metropolitan is being seen as the latest sign that property fever is mounting in Singapore.

The high level of demand led CapitaLand to open the condo's sales office an hour early on Saturday.

It also means almost half the Metropolitan's 382 units have been snapped up, even before its official launch this weekend.

CapitaLand said the 'overwhelming buyer response' led it to offer a second batch of 70 units on Sunday on top of the original 180 units slated for preview sale.

Prices at the project range from $511,000 for a 778 sq ft two-bedder on the fifth floor to $1.45 million for a 1,700 sq ft, four-bedroom unit on the 42nd floor.

This works out to an average of $780 per sq ft (psf), compared to about $750 psf for nearby Tanglin View, a 99-year leasehold condo by Far East Organization that was launched in 1997 and still has 30 of its 384 units unsold.

CapitaLand plans to launch three freehold condos next year

By KALPANA RASHIWALA


CAPITALAND is planning to launch three freehold condos next year with a total of about 700 units even as it catches its breath after selling 188 units over the weekend at the 99-year leasehold The Metropolitan Condominium next to Redhill MRT Station.

The Metropolitan: Over the weekend, CapitaLand/Lippo sold 188 units of the condo, next to Redhill MRT Station, at an average price of $780 psf
'My view is that next year will be good. We're marketing Singapore as a global gateway city. Home prices will continue to do well next year,' CapitaLand Residential Singapore CEO Patricia Chia said.

She expects overall private home prices to rise by about 10-15 per cent next year.

The official Urban Redevelopment Authority's private home price index has risen 6.1 per cent in the first nine months of this year since end-2005, and Ms Chia estimates the year will close nearly 10 per cent higher.

Despite the steep increase in luxury home prices (21 per cent in the first nine months of the year according to some property consultants), Ms Chia believes there's still room for further price growth for well-located projects with good design in this market segment.

The $780 psf average price (after discounts) achieved for the 45-storey Metropolitan is higher than the average of around $750 psf for Tanglin View and around $700 psf for Tanglin Regency fetched between April and August this year, according to The Metropolitan's marketing agent ERA Realty Network president Jack Chua.

The two completed 99-year developments are opposite The Metropolitan but are lower, at just 20 storeys.

Generally, apartments on higher floors fetch higher prices which means that taller condos tend to command a higher average per square foot price on a project basis.

However, The Metropolitan's average price of $780 psf is shy of the over-$800 psf that Tanglin View recorded when it was launched in 1997.

ERA's Mr Chua predicts net rental yields in excess of 4 per cent for units at The Metropolitan Condominium.

Analysts reckon CapitaLand could book a pre-tax profit of about $60 million or even more from its half-share in The Metropolitan Condo.

The other half in the project is held by Lippo Group. The two teamed up to bid for the site at a state tender which closed last November.

Their winning bid reflected a unit land cost of about $350 psf per plot ratio.

CapitaLand said buyers started to queue at The Metropolitan's showflat from 3 am Saturday morning. The showflat opened for sales at 9 am.

The condo, which is expected to be completed in 2010, comprises a total of 382 units, of which 250 have been launched so far.

Of these, 188 had been sold by Sunday evening. Absolute prices range from about $511,000 for a two-bedroom unit on the fifth level to $1.45 million for a four-bedroom unit on the 42nd storey. The development has 11 penthouses, which have yet to be released. Their prices start from $2.5 million.

The Metropolitan is being developed on the last of CapitaLand's 99-year leasehold site.

Another of the group's earlier 99-year projects, CityLights near the Lavender MRT Station, is over 70 per cent sold, Ms Chia revealed.

The average price CapitaLand is selling units in the condo has appreciated around 16 per cent, from an initial $600 psf in November 2004, to about $700 psf currently.

The three condos which CapitaLand is likely to launch next year will be developed on the Silver Tower site in Cairnhill which it bought this year, at Meyer Road and at Jalan Mutiara.

The group will release its financial results for the third quarter ended Sept 30, 2006, on Thursday this week.

Apparently the marketing agent, ERA does not allow booking of units before preview (while most others do), hence the reason for the queue. But it's true that the market is heating up! According to my agent, it's true that agents and buyers queued overnight. My agent wasn't sure if there was going to be any queue, she only got to know it when her customer drove past the area at 4am and saw the queue, he couldn't wait for her and started queueing. He was asked by other agents in the queue if he's got any agents, else they could queue for him. :eek2: Gosh! HK buying craze is really happening in Sg!

who would drive pass a showflat @ 4am...? :ohno: anyone need someone to queue for them? i can offer my service for a nominal sum... to cash in on the frenzy and make a small fortune... heehee... :bash:

if you think last weekend was frantic, wait till you see Marina Bay Residences in 2 weeks' time... :nuts:

OMG!!! just like hello kitties:D

where will the MBFC Queue start? I want to see, hehe.

Better pray that the gahmen learned its lesson from 96.

Is the metropolitian a "done-deal" now? From the postings, reports and news it seems that this project is another run-away success. A very successful partnership between CapitaLand/Lippo.

Its definately amazing .....
Agents and Kiasu folks queuing over-nights (news reports says some queued for 3 days).

Redhill area going for S$780 psf.

The age-old wisdom in properties commanding a good price (and holding on in down cycle) is ....... Location, Location, Location.

PS: Does anyone know the current status of this project as far as how many were sold or how many units left. My guess is that its probably > 90% sold.


Just my 2-cents.

Just for comparison ....

The Regency (freehold) was averaging S$850 psf whereas The Metropolitian (leasehold) was averaging S$780 psf.

I've always used an arbitrary 20% premium a freehold property can command versus a leasehold property. This is taking the assumption of the properties being in a similar location, etc.

With that in mind ... The Regency is definately a better value buy as compared to The Met. On another note .... I still feel that TB is a better location as compared to Redhill.

Then again ... its not entirely apple-to-apple comparison.

PS: I initially thought that with that "crazy" buying and agents queuing for their clients ... The Met would be sold out. Apparently not. Judging from this response ... its not that crazy afterall. Sure of course the better units will be snapped up .... that will leave the developer deciding what they will want to do with the remaining units .... with such high prices .... and people not wanting to commit ... its now a waiting game. Remember its a leasehold project and time is ticking.

Just my 2 cents.

Yup I agree with JackyLemon -
Personally prefer TB to Redhill. Some marketed The Met as being close to Tanglin area but other than some high floor units which can have some tanglin view, personally think will not really associate Redhill as being Orchard/Tanglin.. TB on other hand is closer to CBD & Orchard, esp by driving. TB Plaza also helps... But having said that I must say The Regency location is so-so (old BoBoTan gardens), not as good as Twin Regency/Regency Suites (which is even more undervalued??)

website is up :yes:
http://www.themetropolitancondo.com.sg/main.swf

some rendering and pictures :yes:
http://img224.imageshack.us/img224/3082/untitledtruecolor04sgu9.jpg (http://imageshack.us)

http://img224.imageshack.us/img224/6278/plangi7.jpg (http://imageshack.us)

Went there this afternoon... I'll post a bigger rendering when I have time ;-)

people already trying to flip, seeing so many advertisements for Metropolitan. My agent say most of them trying to get >800psf!

Tsk tsk, that explains the popularity of the project. Since the project is meant from HDB upgraders, those people should at least respect this and let the poor upgraders get their dream home.

Tsk tsk, that explains the popularity of the project. Since the project is meant from HDB upgraders, those people should at least respect this and let the poor upgraders get their dream home.

I'm not quite sure if the met can be considered a target private property for hdb upgraders. I've always assumed that the typical hdb upgrader will look and properties at the next level ... between the $400 - $550 range. That has always been my guage for hdb upgraders.

Of course there will be exceptions ..... I'm very sure there are many hdb dwellers that have deep pockets and can well afford the best properties money can buy.

Nevertheless I would consider the met as a lifestyle type (city frindge), mid-tier property given its price range.

With the slowing down of people buying its remaining properties .... I'm now looking at how property marketing can do their magic (ERA isn't it).

Similarly if I recall correctly .... when meraprime (leashold) was launched there was a frenzy, then it slowed-down after good units were snapped up. With the launch of twin regency (freehold), sales almost came to a hault. it was after TR was sold out (completely sold in about a month) that meraprime resumed their sale .... and over time, coupled with the good sentiment + property in a very good location, MCL slowly got all sold.

Just my 2 cents.

Jacky ar Jacky ...

There are various classes of HDB upgraders ... some higher class then the rest. Typical HDB upgraders upgrade withint their areas ... if you know the Queenstown Redhill area well ... u will know that even the HDB flats in the area are bloody expensive ... exec flat can cost like 500K+++ ... so ... the pricing of Met is not out of reach for them ...

The interesting thing to study is whether these prices can filter through to the other developments around the area ... if it does ... then all benefit lor (like your Guru here - with something nearby) ... if it doesnt ... then how do people reconcile that they are staying in a place that is say 20% more expensive then then condo just a few blocks down the road ? Lifestyle ?

Dont under estimate all the uncles and aunties bring whole family down to showflat with kids plucking the leaves of the showflat plants and stealing the toys from one showflat and put in another ... their cheque book damn powderful ar !

Your Friendly Guru ... ... ...

A 3 bedroom family size would cost more than $1 million. I don't think this is for the typical HDB upgraders.

Jacky ar Jacky ...

There are various classes of HDB upgraders ... some higher class then the rest. Typical HDB upgraders upgrade withint their areas ... if you know the Queenstown Redhill area well ... u will know that even the HDB flats in the area are bloody expensive ... exec flat can cost like 500K+++ ... so ... the pricing of Met is not out of reach for them ...

The interesting thing to study is whether these prices can filter through to the other developments around the area ... if it does ... then all benefit lor (like your Guru here - with something nearby) ... if it doesnt ... then how do people reconcile that they are staying in a place that is say 20% more expensive then then condo just a few blocks down the road ? Lifestyle ?

Dont under estimate all the uncles and aunties bring whole family down to showflat with kids plucking the leaves of the showflat plants and stealing the toys from one showflat and put in another ... their cheque book damn powderful ar !

Your Friendly Guru ... ... ...

DKSG
you made some interesting comments. you gave some interesting input. however i'm not quite sure that a typical hdb upgrader upgrades within their area. i quite sure however that their decision will be based on their pockets (in another words - affordability).

of course this holds true if the upgrading folks are used to the place and have "roots" and extended family living around the area they probably don't like to move too far away and want to be close. even so, its also about affordability.

the met is going for an average of $780 psf. a typical executive appartment around that area of about .... say 1,200 sq ft and you mentioned that its going for about $500k++, that works out to be > $400 psf. $400 psf for a hdb .... ?? even if its in the queenstown or redhill area ?? i'm not quite sure that this is justifiable? maybe it is i don't know. maybe someone can shed some light here.

lets assume that this is justifiable .... from $400 psf to $780 psf .... its almost double for a similar sized appartment, isn't it. of course we are talking about upgrading and its almost always about affordability. there is always the option of downsizing to get a smaller appartment at the met.

one man's meat is one man's poision. to each its own and of course different folks different strokes. there will definately be people with deep pockets even folks living in hdb (like i mentioned in my earlier post). sure these folks can afford definately.


just my 2 cents

any news about the recent development of this project? interested to know caused it the talk of the town once...

Jacky ...

Sorry ... din see your reply on this till now ...
Yea ... the HDB resale prices in the area IS around that figure ...

But for the typical (high end) upgrader ... upgrading usually means 2 things :
1) The upgrade to a smaller area condo ... haha ... ironical right ? But to save some costs, they tend to cut down on the area ... anyway ... some condos are so well designed compared to HDB that you probably wont feel that land area is smaller.
2) The upgrader usually have paid up a significant portion of their HDB, and therefore can afford something like ANOTHER HDB ... so ... if they sell the old one for $550K and buy the new one for $800K ... still can manage lor ...

Your Friendly Guru ... ...

Here's a picture of the land where the 43 storey condo will rise.
http://i65.photobucket.com/albums/h204/hyapic01/DSC_2438.jpg

Visual comparison from similar angle

14 April 2007

http://i77.photobucket.com/albums/j67/RCSSC/metro1404.jpg

Latest update! 100% Sold!:cheers:

I am looking at the Metropolitan brochure. To my surprise, I did not see any mention of function room, nor gym. Can anyone enlighten me if this development really does not come with gym and function room? I would be very surprised given the size of the development. Thanks.

I am looking at the Metropolitan brochure. To my surprise, I did not see any mention of function room, nor gym. Can anyone enlighten me if this development really does not come with gym and function room? I would be very surprised given the size of the development. Thanks.

there is a clubhouse with gym, ktv/reading room, function/multi-purpose room. gym should be at level 1 stack 10 facing the pool.

Thanks, Jt8.

Thanks, Jt8.

There is a web site:

http://www.themetropolitancondo.com.sg

I think the gym is located at the back near the children pool.
Btw it is sold out already.

I am considering buying from sub-sale. By the way, I could not find any mention of the gym at the website. could be oversight...

Anyway, I have decided not to go for the subsale afterall, finding the development too near the MRT track to justify for the asking price.

Thanks for your help anyway.

Wah WLCL ...

You change your mind during the span of writing the post har ?!
First sentence say considering ... second sentence say decided not to liao ...

You are behaving like some sellers refusing to sign option after cheque comes in at asking price ... muahahaahaaa!!!!

YFG ... ...

Yes, you are right, I was "considering" with first post, and decided not to make an offer after careful consideration. Since I did not make any offer at all, it is fundamentally different from sellers changing their mind when buyers offer to match their asking price. I can understand the frustration of buyers in those situation. However, as potential investors, there is nothing wrong with consideration and evaluation, as long as we do not go back on our words, agree?

See URA website

http://www.ura.gov.sg/pr/text/2007/pr07-57.html

14 June 2007

Government Land Sales Programme for Private Residential, Commercial and Hotel Development for the Second Half of 2007

One of the residential site is next to The Metropolitan. Map in PDF format is at:

http://www.ura.gov.sg/pr/graphics/2007/pr07-57a21.pdf

Looks like some of the views of Metropolitan could be blocked.

But not surprising since it is a large plot of vacant land zoned residential, there is still a lot more room for future high rise high density developments near the MRT station.

Looks like some of the views of Metropolitan could be blocked.

But not surprising since it is a large plot of vacant land zoned residential, there is still a lot more room for future high rise high density developments near the MRT station.
I think they are going to lose the nice Orchard Rd/River Valley skyline view.

Although the new site is on the reserve list, I expect it to be triggered for sale because of its good location.

A few days ago, HDB sold a 99-year leasehold site in Dakota Crescent for $524 per square foot per plot ratio (psf ppr). I wonder what psf ppr price this site will fetch.

Prices of units at the opposite Tanglin View condo are now near the $1000 psf price.

Wonder how long more after this that the next Redhill site gets developed...there is so much space there for a total cluster of 40-storey condos.

I think they are going to lose the nice Orchard Rd/River Valley skyline view.

Fortunately there is still a view of a large green space overlooking the Tanglin area in the other direction.

Hmm, another 43 Storey Condo?

How long normally does it that to do the foundation for a condo size like this? :)

The first map in the following picture shows the new Alexandra Road site and The Metropolitan site.

http://www.businesstimes.com.sg/mnt/media/image/launched/2007-06-15/BT_6444190_14_06_2007.jpg

I'm not quite sure if the met can be considered a target private property for hdb upgraders. I've always assumed that the typical hdb upgrader will look and properties at the next level ... between the $400 - $550 range. That has always been my guage for hdb upgraders.


=================

i agreed with jacky lemon that this project certainly doesnt fit into that cateogry. hence, like wlcl, i wouldnt put any dollar here cos the psf is too high for that location... though it's certainly better than those in the further outskirts.. there're definitely other alternatives to this project.. i certainly dont fancy being the 2nd hand buyer in this project bearing this risk ... but undeniably, we're using a higher chip value for the same property/location...

Photos taken on 23 Jun 07.

Photo taken from 23 Floor of HDB Blk 63B.

http://i144.photobucket.com/albums/r187/wees_photos/property/DSCN4518.jpg


Construction progress:


http://i144.photobucket.com/albums/r187/wees_photos/property/DSCN4575.jpg


http://i144.photobucket.com/albums/r187/wees_photos/property/DSCN4475.jpg

Looks like it needs to be over 30th floor to cross the top of those apartments in order to see Orchard.

The progress looks slow. It will probably top out towards the end of next year or even 09.

I actually went up to the highest storey of the HDB opposite, hardly see the see. Anyone did that?

Yesterday I took a train from downtown to Clementi to-&-fro, I noticed the units facing the rail are so closed. You can almost even see the face of the construction workers clearly.

I just wonder how noisy it's going to be everytime the train pass by.
And imagine, you have to pull down the window blind from day-to-night unless you want everyone on the train that passes by every 3min-10min to look at what's happening in the room.

Yes, saw it.
The units are very close to MRT track. If I am late, i will jump from my window to the train direct. :)

Metropolitan was one of the property highlighted recently that has an extremely high percentage of investment property buyers with deferred payments.

That was the reason CapitaLand raised the construction fund selling floating rate bonds linked to Metropolitan and Scotts HighPark to move off their risks from their own books to the capital market.

Across the road from Metropolitan are the Tanglin Regency and Tanglin View condos.

URA website shows:

Project : TANGLIN VIEW
Price : $1,520,000
Area, sq ft : 1,152
PSF price: $1,320
Date: Jul-07

I think $1,320 is a new high for Tanglin View.

Domain 21 (close to the junction of Alexandra Road and River Valley Road) has just TOP. I guess prices do jump a bit when a condo is nearing or just obtained TOP.

Project : 1,537,200
Area, sq ft : 1,281
PSF price: $1,200
Date: Jul-07

At the next MRT stop (Tiong Bahru), Meraprime is also showing a new high

price: $1,500,000
area in sq ft: 1,173
psf price: $1,278
Date: Jul-07


According to URA website, the plot of land next to Metropolitan will be open for application in August, which means it should happen within the next 2 weeks.

erm. any renderings of the WHOLE building?

http://www.themetropolitancondo.com.sg/pres/display/images/metropolitan1.jpg
http://www.themetropolitancondo.com.sg/pres/display/images/metropolitan2.jpg

25 Aug 2007

http://i179.photobucket.com/albums/w304/hyapic02/09-1.jpg

http://www.themetropolitancondo.com.sg/pres/display/images/metropolitan1.jpg
http://www.themetropolitancondo.com.sg/pres/display/images/metropolitan2.jpg
Wow! It's 45-storeys right? Is it nderground carpark? And by the way, thanks wees! :)

cheers

excelsvr

yes, it is 45 storeys.

yes, the carpark is an underground carpark.

Then it's quite value-for-money. Only minus point is that it is too close to the MRT.

cheers

excelsvr

That's why Meraprime will always get higher price than The Metropolitan due to underground MRT and is one stop closer to the city. I stayed next to Clementi MRT station before and the high pitch noise is really annoying!

nicki01, do you stay in those yellow-and white HDB's near Clementi Central?

cheers

excelsvr

Will a high unit on the 30th floor or so be affected by the MRT noise? We bought a 3 bedroom unit facing south (towards the MRT). We liked the size and layout of the unit.

Will a high unit on the 30th floor or so be affected by the MRT noise? We bought a 3 bedroom unit facing south (towards the MRT). We liked the size and layout of the unit.

u can go up to the 30th floor of the opposite HDB block to have a feel of the noise (if any). Personally, I went up and could not take it, but the view is nice.

Yup, the only minus point is that it's too close to MRT. Close is good, but not too close :D

cheers

excelsvr

Thanks for responding. My wife is Singaporean but we live in Canada so we'll have to wait until our next visit to see what it's like from the HDB flats across the road.

Can buy those units facing away from MRT , i.e. facing towards Tanglin.

Unfortunately, you'll still be able to hear the MRT, although it won't be as worse as the stacks facing the MRT.

cheers

excelsvr

The MRT announcements are fairly loud. Not sure if they would be muted at high levels, but for Redhill it is particularly loud across the road.

Haha then when the announcer say Please Stand Behind the Yellow Line in tamil, the owners of Metropolitan wake up and say "who's in my house?" :lol:

cheers

excelsvr

Haha then when the announcer say Please Stand Behind the Yellow Line in tamil, the owners of Metropolitan wake up and say "who's in my house?" :lol:

cheers

excelsvr

SMRT should consider putting up noise block panels along the tracks or at stations such as Redhill or Clementi. I saw noise block panels about 5m tall installed at the sides of elevated expressways in Shanghai wherever they run close to tall residential blocks.

like what Baby suggested, one may consider the units facing the Tanglin side. The view is better and the noise is much less. The price premium should be about 100-150 psf difference for the same floor.

SMRT should consider putting up noise block panels along the tracks or at stations such as Redhill or Clementi. I saw noise block panels about 5m tall installed at the sides of elevated expressways in Shanghai wherever they run close to tall residential blocks.
Are those noise block panels light green in colour? I vaguely remeber them. In fact, I FORGOT:D

cheers

excelsvr

Metropolitan sits on a good location :-

- just at city fringe, very close to Orchard and CBD.
- within a mature estate, with good amenities and transport.
- good potential for capital appreciation shortly with new launches coming.

- besides the issue with the train track and station are above ground means loud noise, it's also too close to HDB flats - I would thought the site was originally meant for HDB upgrader, but the prices of the condos going forward doesn't seem to be easy for HDB upgrader to buy for stay.

We bought for the location altho' didn't realize about the MRT track noise until I stumbled onto this forum. Still, there appears to have been capital appreciation since purchase so can't complain. Can decide what to do in the next 2 to 3 years tho' I suspect we will move in for at least a year then rent out? I assume that the area will be popular with some renters. Those with an affinity for trains. LOL.

We bought for the location altho' didn't realize about the MRT track noise until I stumbled onto this forum. Still, there appears to have been capital appreciation since purchase so can't complain. Can decide what to do in the next 2 to 3 years tho' I suspect we will move in for at least a year then rent out? I assume that the area will be popular with some renters. Those with an affinity for trains. LOL.

HLT,

If you are concerned about the noise, one option is to sell your unit and buy another unit facing the Tanglin side.

wees8

We'll be visiting Singapore in November so we'll see what things are like from the top floor of the HDB block opposite. In any case, there is no rush since there appear to be quite a few options. The deferred payments option with the Metropolitan is also a benefit to us. If I remember correctly there were no 3 bedroom units facing Tanglin with the configuration we wanted.

u can go up to the 30th floor of the opposite HDB block to have a feel of the noise (if any). Personally, I went up and could not take it, but the view is nice.
sound travels up....

And not down...:lol:

cheers

excelsvr

nicki01, do you stay in those yellow-and white HDB's near Clementi Central?

cheers

excelsvr
No, I stayed in a 20yrs old HDB at the other side of Clementi central before I moved to Tiong Bahru.

Oh. :lurker:

cheers

excelsvr

We bought for the location altho' didn't realize about the MRT track noise until I stumbled onto this forum. Still, there appears to have been capital appreciation since purchase so can't complain. Can decide what to do in the next 2 to 3 years tho' I suspect we will move in for at least a year then rent out? I assume that the area will be popular with some renters. Those with an affinity for trains. LOL.

Best to rent it out while rental trend is @ its peak!Also another option is to Leased and Sell with many investors will look @ it with more capital gain.

Then in maybe when property prices cool down then look for another to stay.

Metro will be good for foreign students or expats for its near campuses and offices!:cheers:

But the question remains: are the foreign students or expats going to be able to pay the hefty rent, given Metropolitan's location? :lol:

cheers

excelsvr

But the question remains: are the foreign students or expats going to be able to pay the hefty rent, given Metropolitan's location? :lol:

cheers

excelsvr

For foreign students maybe those rich parents would definitely go for it or mite even buy for them as it is conveniently located near MRT and their kids schools!Don't forget the instituitions around the area is all for $$$$ students!

For Expats well it depend on their liking esp early this year when i served an American expat who leased out The Paterson,i adviced him abt the plot of land in front of it might have a potential development going on but he still insisted on the unit as its locality is superb.
It is geograpically located of what he wanted despite e noises from Paterson Res.

Yup in the end it all boils down to location; location and location. I believe that so long as a condominium is close to a MRT ( < 60m ) , it can fetch a good rent.

cheers

excelsvr

URA is launching a tender for the plot of land next to Metropolitan. The following news is from URA website.

9 November 2007

URA to launch the tender for the reserve site at Alexandra Road in two weeks' time

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the reserve site at Alexandra Road for public tender.

The Land Parcel was made available for sale through the Reserve List System on 29 August 2007. Under the government’s reserve list system, the government will put up a reserve site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 5% of the bid price, to bid for the site at or above the minimum price which is acceptable to the government.

URA has received an application from a developer who has committed to bid at a price of not less than $220,700,000.00 for the Land Parcel at Alexandra Road. In accordance with the procedures of the reserve list system, URA is making public this price. However, the identity of the applicant will not be released.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later. A tender period of about four weeks will be allowed for the site.

Land Parcel at Alexandra Road

The Land Parcel at Alexandra Road has a site area of around 0.86 ha and is earmarked for a residential development with a maximum gross floor area of 41,939 sq m. The site is located close to the Redhill MRT station.

The details of the Land Parcel are at Annex A-1 and the location plan at Annex A-2. More details of the Land Parcel are available on URA website at http://www.ura.gov.sg/sales/AlexandraRdAug07/AlexandraRd-intropage.html

Not very good news for The Metropolitan residents ^^

But maybe the design will be iconic :D

May be a good news for some owners. Let's see what's the bidded price...

Good news and bad news haha :lol:

11th November 2007

http://ssc.singapenguin.net/07/071111_metropolitan01.jpg
Floor plates at floor 15 and core at floor 17 (1/3 built).

It's strange they designed the Metropolitan with so many windows facing the MRT station and tracks instead of facing away. Commuters can easily look into the lower floor units!

11th November 2007

http://ssc.singapenguin.net/07/071111_metropolitan01.jpg
Floor plates at floor 15 and core at floor 17 (1/3 built).

May be a good news for some owners. Let's see what's the bidded price...

I think it is good news for most owners. IMHO, the bid price for the land will be high enough to push up the prices of the units there.

11th November 2007

http://ssc.singapenguin.net/07/071111_metropolitan01.jpg
Floor plates at floor 15 and core at floor 17 (1/3 built).

Nice updates. The Metropolitan's progress is quite fast. Of course, it's by Capitaland..:lol:

22 November 2007

URA launches tender for a residential site at Alexandra Road

The Urban Redevelopment Authority (URA) launched a residential Land Parcel at Alexandra Road for sale by public tender today.

The Land Parcel was made available for sale through the reserve list system on 29 August 2007. On 9 November 2007, URA announced that it had received an application from a developer to put up the Land Parcel for tender and would launch the site for public tender in about two weeks. The developer has committed to bid at least S$220,700,000.00 for the Land Parcel in the public tender.

Land Parcel at Alexandra Road

The Land Parcel at Alexandra Road has a site area of around 0.86 ha and is planned for residential development with a maximum gross floor area of 41,939 sqm. It is located close to the Redhill MRT station.

The details of the Land Parcel are at Annex A-1 and the location plan at Annex A-2. More details of the Land Parcel are available on URA website at http://www.ura.gov.sg/sales/AlexandraRdAug07/AlexandraRd-intropage(L).html.

Other Details

A tender period of about four weeks will be allowed for the site. The tender will close at 12 noon on 27 December 2007. Selection of successful tenderer will be based on the tendered land price only. Any tender below the accepted minimum bid price of S$220,700,000.00 will not be accepted

Developer’s Packets are available at S$105.00 each (inclusive of GST) for the Land Parcel. These can be purchased from the Customer Service Counter on the 1st storey of The URA Centre, 45 Maxwell Road, Singapore 069118. The Developer’s Packets can also be purchased via URA-Online at http://www.ura.gov.sg/sales/sales_main.html at a cost of S$105.00 (excluding delivery charges) for local and overseas purchasers.

This will have a great impact on Metropolitan's price ^^

Whether positive or negative impact will depend on the price of the successful bid.

In fact, with the min committed bid price of S$220,700,000, we can reverse-engineer and calculate the min launch price of each unit. I know some folks here are very good in doing GFA, construction cost type of calculation. Any volunteers ?

If the min price of each unit in Alexandra Heights is above the subsale prices of The Metropolitan, then there may be a window of opportunity (2 weeks) to tap into.

I think Baby or Shctaw can calculate the GFA.

Permissible Gross Floor Area = 41,939 square metres

Committed to bid at least S$220,700,000


1 square metre = 10.763 910 417 square feet

41,939 square metres = 451,427.6 square feet


$ psf ppr = 220,700,000 / 451,427.6 = $ 488.90 psf ppr

Nice calculation ^^

Did you use a caculator? :lol:

Nice calculation ^^

Did you use a caculator? :lol:

I used online calculator and Excel spreadsheet.

In comparison, the Metropolitan site was purchased by the developers at $350 psf ppr in November 2005.

Difference is great. About S$130 psf difference.

wees8

We'll be visiting Singapore in November so we'll see what things are like from the top floor of the HDB block opposite. In any case, there is no rush since there appear to be quite a few options. The deferred payments option with the Metropolitan is also a benefit to us. If I remember correctly there were no 3 bedroom units facing Tanglin with the configuration we wanted.

I went to the top of one of the HDB flats opposite. The noise didn't seem bad.

I went to the top of one of the HDB flats opposite. The noise didn't seem bad.

That is indeed good news.

I went to the top of one of the HDB flats opposite. The noise didn't seem bad.

Great! But I am sure that Metropoliatn residents will sooner or later get used to it.

In today's Business Times article "Fewer sub-sales but value hits all-time high", there are 41 Metropolitan sub-sales in the 3rd quarter, which works out to 11% of the project.


http://www.businesstimes.com.sg/mnt/media/image/launched/2007-12-04/NEWassub30_p3.jpg

Thanks wees. Good and useful information.

Interesting observation about Metropolitan. Notice that Metropolitan is not even listed/highlighted in the previous Q1 and Q2, and suddenly in Q3, it is one of the more active subsale projects. Part of the reason could be speculator/investor are buying in anticipation of the further rise in prices when Alexandra Heights is tendered.

Thanks wees. Good and useful information.

Interesting observation about Metropolitan. Notice that Metropolitan is not even listed/highlighted in the previous Q1 and Q2, and suddenly in Q3, it is one of the more active subsale projects. Part of the reason could be speculator/investor are buying in anticipation of the further rise in prices when Alexandra Heights is tendered.

Yeah. Suddenly, many people want Metropolitan.

Yeah. Suddenly, many people want Metropolitan.

Yep, Metropolitan is climbing up fast. Icon and The Sail seems to be running neck to neck, exchanging first and second spot every quarter. Citylights has steadily climbed from 9th place in Q1 to the third spot below Icon and The Sail.

Yep, Metropolitan is climbing up fast. Icon and The Sail seems to be running neck to neck, exchanging first and second spot every quarter. Citylights has steadily climbed from 9th place in Q1 to the third spot below Icon and The Sail.

Hard to say, it may become first. Just like, Sango and dddddd were very amazed that Citylights came in in one of the highest positions for subsales at the start of the year.

update:



http://www.themetropolitancondo.com.sg/pres/SiteSnapshot/images/DSCF5082.JPG

Very fast. That's Capitaland's strength ! Meaning get money back fast !

No problem TOP by Dec 2008.

Yep, Metropolitan is climbing up fast. Icon and The Sail seems to be running neck to neck, exchanging first and second spot every quarter. Citylights has steadily climbed from 9th place in Q1 to the third spot below Icon and The Sail.

Apart from more people intending to buy Metropolitan, the other reason is more Metropolitan owners were willing to sell as they saw a good profit margin when the prices reached the current levels in the 3rd quarter.

Very fast. That's Capitaland's strength ! Meaning get money back fast !

No problem TOP by Dec 2008.

Yeah, Capitaland and UOL's construction has always been faster than usual ;)

Maybe the reason for the active subsales is that the 2nd deferred payment is due later this month :-)

Maybe the reason for the active subsales is that the 2nd deferred payment is due later this month :-)

The next 5% is due for payment already?

The next 5% is due for payment already?

If I remember correctly, it is 10% that is due. The first 10% has already been paid. The balance due when TOP is obtained.

If I remember correctly, it is 10% that is due. The first 10% has already been paid. The balance due when TOP is obtained.

Oh, I thought Metropolitan pay 15% first, then 5%.

The tender for the plot of land next to Metropolitan (called Alexandra Heights) closes at noon today (27 Dec 07). A developer has committed to bid at least $488.90 psf ppr.

I wonder what the winning bid will be.

The tender for the plot of land next to Metropolitan (called Alexandra Heights) closes at noon today (27 Dec 07). A developer has committed to bid at least $488.90 psf ppr.

I wonder what the winning bid will be.

Well, we should know the results soon. This will have an impact on The Metropolitan's price ;)

Well, we should know the results soon. This will have an impact on The Metropolitan's price ;)

All I hope to have good housing prices that Singaporeans can buy. So many condo prices go as high as one million dollars at the expense of real buyers. This is really crazy.

All I hope to have good housing prices that Singaporeans can buy. So many condo prices go as high as one million dollars at the expense of real buyers. This is really crazy.

Everything in Singapore has gone up now - food prices, clothes prices, property prices and so on and so forth.

The tender for the plot of land next to Metropolitan (called Alexandra Heights) closes at noon today (27 Dec 07). A developer has committed to bid at least $488.90 psf ppr.

I wonder what the winning bid will be.
What would be the estimated psf based on this minimum bid price?

The bids are in:

RANKING, NAME OF TENDERER, TENDERED SALE PRICE ($), TENDERED SALE PRICE IN $PSM OF GFA

1, WINGLOW INVESTMENT PTE. LTD. & GREATEARTH DEVELOPMENTS PTE LTD, 288,380,000.00, 6,876.18

1 square metre = 10.763910417 square feet

price psf ppr = 6,876.18 / 10.763910417 = $638.82

See announcement at URA website:

http://www.ura.gov.sg/pr/text/2007/pr07-155.html

Rank, $psf ppr, Name of Tenderer

1. 639, WINGLOW INVESTMENT PTE. LTD. & GREATEARTH DEVELOPMENTS PTE LTD
2. 602, LAFE DEVELOPMENT PTE. LTD.
3. 578, BILLION RISE LIMITED
4. 568, FRASERS CENTREPOINT LIMITED
5. 521, SUNNY VISTA DEVELOPMENTS PTE. LTD & TID PTE. LTD.
6. 501, PERFECT EAGLE PTE. LTD.

Rank, $psf ppr, Name of Tenderer

1. 639, WINGLOW INVESTMENT PTE. LTD. & GREATEARTH DEVELOPMENTS PTE LTD
2. 602, LAFE DEVELOPMENT PTE. LTD.
3. 578, BILLION RISE LIMITED
4. 568, FRASERS CENTREPOINT LIMITED
5. 521, SUNNY VISTA DEVELOPMENTS PTE. LTD & TID PTE. LTD.
6. 501, PERFECT EAGLE PTE. LTD.

Wiglow Investment Pte Ltd and Greatearth Developments Pte Ltd are subsidaries of Wing Tai and United Engineers is it?

Business Times - 28 Dec 2007


Alexandra Road site draws six bids

Top bid of $288.4m made jointly by Wing Tai Holdings, United Engineers

By UMA SHANKARI

A RESIDENTIAL site at Alexandra Road saw a bullish six bids and a top bid of $288.4 million - or $639 per square foot per plot ratio (psf ppr) - at the tender's close yesterday.

The top bid for the 92,100 sq ft site was jointly put in by Wing Tai Holdings and United Engineers (UE).

Other bidders include familiar names such as Singapore's Hong Leong Group, GuocoLand and Frasers Centrepoint, as well as mainboard-listed Lafe Technology, which designs and manufactures computer magnetic heads.

'This price is bullish and shows that developers have not lost their appetite for good quality plots of land,' said Ku Swee Yong, director of marketing and business development at Savills Singapore.

The site is conveniently located along Alexandra Road and less than five minutes' walk away from Redhill MRT station.

Nicholas Mak, director of research and consultancy at Knight Frank said: 'The relatively high level of developers' interest and the strong bids reflect that developers are still bullish on the Singapore property market in 2008.'

Leonard Tay, director of research at CB Richard Ellis (CBRE), pointed out that the top bid is 31 per cent above the reserve price of $489 psf ppr and 83 per cent above the price of $350 psf ppr paid for the adjacent The Metropolitan site in November 2005.

'This price of $639 psf ppr will translate into an estimated breakeven price of about $1,000 psf for the future condominium project to be built on this site, and it is likely that units will sell between $1,100 and $1,200 psf,' Mr Tay said.

Sub-sales of units at The Metropolitan are currently at around $900-1,100 psf, CBRE said.

The 99-year leasehold site has a maximum gross floor area of 451,400 sq ft. The site could yield about 360 to 400 condominium units, said Knight Frank's Mr Mak.

Market watchers said that the upcoming development could see strong demand from occupiers of older private residential projects - especially home owners who had benefited from collective sales.

There might also be some potential for upgraders from the HDB estates in the vicinity, as HDB flats in the Bukit Merah and Queenstown area typically sell for among the highest prices in the HDB resale market, CBRE's Mr Tay said.

According to HDB's data for the third quarter of 2007, five-room flats in Bukit Merah have a median resale price of $530,000, while five-room and executive flats in Queenstown have median resale prices of $603,000 and $719,000 respectively.

Wing Tai and UE's bid is 6 per cent higher than the second highest bid of $602 psf ppr put in by Lafe Technology.

The partners' bid is also 28 per cent higher than the lowest bid of $501 psf ppr put in by GuocoLand.


Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.

Business Times - 28 Dec 2007


Alexandra Road site draws six bids

Top bid of $288.4m made jointly by Wing Tai Holdings, United Engineers

By UMA SHANKARI

A RESIDENTIAL site at Alexandra Road saw a bullish six bids and a top bid of $288.4 million - or $639 per square foot per plot ratio (psf ppr) - at the tender's close yesterday.

The top bid for the 92,100 sq ft site was jointly put in by Wing Tai Holdings and United Engineers (UE).

Other bidders include familiar names such as Singapore's Hong Leong Group, GuocoLand and Frasers Centrepoint, as well as mainboard-listed Lafe Technology, which designs and manufactures computer magnetic heads.

'This price is bullish and shows that developers have not lost their appetite for good quality plots of land,' said Ku Swee Yong, director of marketing and business development at Savills Singapore.

The site is conveniently located along Alexandra Road and less than five minutes' walk away from Redhill MRT station.

Nicholas Mak, director of research and consultancy at Knight Frank said: 'The relatively high level of developers' interest and the strong bids reflect that developers are still bullish on the Singapore property market in 2008.'

Leonard Tay, director of research at CB Richard Ellis (CBRE), pointed out that the top bid is 31 per cent above the reserve price of $489 psf ppr and 83 per cent above the price of $350 psf ppr paid for the adjacent The Metropolitan site in November 2005.

'This price of $639 psf ppr will translate into an estimated breakeven price of about $1,000 psf for the future condominium project to be built on this site, and it is likely that units will sell between $1,100 and $1,200 psf,' Mr Tay said.

Sub-sales of units at The Metropolitan are currently at around $900-1,100 psf, CBRE said.

The 99-year leasehold site has a maximum gross floor area of 451,400 sq ft. The site could yield about 360 to 400 condominium units, said Knight Frank's Mr Mak.

Market watchers said that the upcoming development could see strong demand from occupiers of older private residential projects - especially home owners who had benefited from collective sales.

There might also be some potential for upgraders from the HDB estates in the vicinity, as HDB flats in the Bukit Merah and Queenstown area typically sell for among the highest prices in the HDB resale market, CBRE's Mr Tay said.

According to HDB's data for the third quarter of 2007, five-room flats in Bukit Merah have a median resale price of $530,000, while five-room and executive flats in Queenstown have median resale prices of $603,000 and $719,000 respectively.

Wing Tai and UE's bid is 6 per cent higher than the second highest bid of $602 psf ppr put in by Lafe Technology.

The partners' bid is also 28 per cent higher than the lowest bid of $501 psf ppr put in by GuocoLand.


Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.

This will definitely push the Metropolitan's price up, since the expected selling price is about $100psf higher than the latters subsale prices now.

Roughly when will the project be launched for sale? It is a LH land so I guess the developer has to launch it as soon as they obtained the lease?

Roughly when will the project be launched for sale? It is a LH land so I guess the developer has to launch it as soon as they obtained the lease?

The Capitaland/Lippo joint venture won the bid for the Metropolitan plot of land in Nov 05. The Metropolitan was lauched in Nov 06.


NTUC Choice Homes won the bid for the plot of land for Yew Tee Residences in Sep 05. Yew Tee Residences was launched in Jan 07.

So I would like that it takes approximately 12 months between winning the bid and launching the project. This period of 12 months is alluded to, as a Straits Times article on 28 Dec 07 titled "Residential site in Alexandra Road attracts strong bids" (By Tan Hui Yee, Housing Correspondent) has the following part:


A RESIDENTIAL plot in Alexandra Road has attracted a bullish top bid of $288.4 million despite recent talk of a cooling market.

Developer Wing Tai Land teamed up with building company Greatearth Construction to submit the top bid for the plum site near Redhill MRT Station and just outside the Central Business District.

The bid works out to $639 per sq ft (psf) per plot ratio (ppr), which broadly refers to the amount of floor space.

...

Property consultants said the strong response to this latest tender bodes well for the market. Knight Frank's head of consultancy and research, Mr Nicholas Mak, said: 'It gives a certain indication of how developers feel about the market in the coming 12 months or so. They expect current prices to continue to grow, especially in the mid-tier segment.'

The Capitaland/Lippo joint venture won the bid for the Metropolitan plot of land in Nov 05. The Metropolitan was lauched in Nov 06.


NTUC Choice Homes won the bid for the plot of land for Yew Tee Residences in Sep 05. Yew Tee Residences was launched in Jan 07.

So I would like that it takes approximately 12 months between winning the bid and launching the project. This period of 12 months is alluded to, as a Straits Times article on 28 Dec 07 titled "Residential site in Alexandra Road attracts strong bids" (By Tan Hui Yee, Housing Correspondent) has the following part:


A RESIDENTIAL plot in Alexandra Road has attracted a bullish top bid of $288.4 million despite recent talk of a cooling market.

Developer Wing Tai Land teamed up with building company Greatearth Construction to submit the top bid for the plum site near Redhill MRT Station and just outside the Central Business District.

The bid works out to $639 per sq ft (psf) per plot ratio (ppr), which broadly refers to the amount of floor space.

...

Property consultants said the strong response to this latest tender bodes well for the market. Knight Frank's head of consultancy and research, Mr Nicholas Mak, said: 'It gives a certain indication of how developers feel about the market in the coming 12 months or so. They expect current prices to continue to grow, especially in the mid-tier segment.'

Same case for Citylights, won the bid, then wait for a while before launch :)

For the case of Citylights, URA awarded the plot of land to Capitaland on 8 Oct 2003.

Capitaland launched Citylights on 4 Dec 2004.

The interval between the 2 dates is about 14 months.

Construction progress:

http://www.themetropolitancondo.com.sg/pres/SiteSnapshot/images/Overall%20View2.JPG

wees8

Thanks for the picture. What floor are they up to on the left? Must be about half way by now.

Am looking forward to our next visit in November.

What floor are they up to on the left? Must be about half way by now.



I counted 21 floors on the left block.

wees8

Thanks.

Photos taken on 22 Jan 08.

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0116_.jpg

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0128_.jpg

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0130_.jpg

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0137_.jpg

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0143_.jpg

Oh, are they using glass or steel railings for the balconies? Cause the other time I went I saw what looked like metal railings and they look disgusting.

Oh, are they using glass or steel railings for the balconies?

Steel railings. Here is a photo of the balcony and its steel railings.

http://i144.photobucket.com/albums/r187/wees_photos/metropolitan/DSCN0135_.jpg

I agree it would have been better if they had used glass instead of the metal railings. However, the showflat, the brochure and the specs did show metal railings other than the penthouse unit type E.

another update:

http://www.themetropolitancondo.com.sg/pres/SiteSnapshot/images/Metro%20Jan%2008%20PRES.jpg

Another update:

http://www.themetropolitancondo.com.sg/pres/SiteSnapshot/images/PRES%20Feb08.JPG

Looks like we're at the 26th floor or so.

Thanks for the pictures!

Another photo upate, taken on 23 May 08

http://img386.imageshack.us/img386/6610/dsc00144cy2.jpg

2 August 2008

http://i77.photobucket.com/albums/j67/RCSSC/met0208.jpg

http://i77.photobucket.com/albums/j67/RCSSC/met0208b.jpg

I notice the church had been rebuilt. But the power office is so strange, looks like a terraced house.

2 August 2008

http://i77.photobucket.com/albums/j67/RCSSC/met0208b.jpg

Such vivid colors. Almost like a postcard. Must be a bright sunny day.

Thanks ayanami. It was indeed a hot day yesterday. However I did also increase the contrast and saturation of the pics to bring it out a bit more :D

@redstone...what power station?

Thanks ayanami. It was indeed a hot day yesterday. However I did also increase the contrast and saturation of the pics to bring it out a bit more :D

@redstone...what power station?

Ah...ha! I guessed it....but waiting for your "confession".

Here's Metropolitan from a different perspective....no camera setting adjustments...just fancy camera angle....:lol:

http://img387.imageshack.us/img387/709/img0353smalllo0.jpg

Ah...ha! I guessed it....but waiting for your "confession".

Here's Metropolitan from a different perspective....no camera setting adjustments...just fancy camera angle....:lol:

http://img387.imageshack.us/img387/709/img0353smalllo0.jpg

You seem to have a load of pics stored up! :happy:

Anyway the MRT station is beginning to look a little dated. Hopefully it get upgraded, like the older HDB flats.

I hate the designs from Outram to Clementi. So functionalist. BUT it does have the weird 'industrial' charm. :lol:

Wow.. it looks like they are at the level of our unit on the left stack. I hope we can see above the HDB flats.

hiyee to all, i heard there's no bath tub/ sunken bath for metropolitan except the penthouses? is it feasible to install one ourselves at the bigger masterbedroom bathroom?
i missed the launch - any mention of additional electrical appliances?

hiyee to all, i heard there's no bath tub/ sunken bath for metropolitan except the penthouses? is it feasible to install one ourselves at the bigger masterbedroom bathroom?
i missed the launch - any mention of additional electrical appliances?

Sorry - cannot help. I am planning to visit Singapore in November. While there, I want to find out what, if any, changes can be done prior to completion. Am not optimistic. I'd like the third bedroom to be "open" like the show flat.

Wow.. it looks like they are at the level of our unit on the left stack. I hope we can see above the HDB flats.

If your unit is above 26-27 storey, you should be able to see over the HDB. [according to agents].

Taken on 08 Aug 08.

http://img501.imageshack.us/img501/4229/img0612smallfy7.jpg

Kinda reminds me of Citylights when it was u/c.

Notice how much meaner they look when theyre all bare and unpainted, quite a sight actually :)

Kinda reminds me of Citylights when it was u/c.

Notice how much meaner they look when theyre all bare and unpainted, quite a sight actually :)

When you start talking about building with terms like "meaner", "bare" and "quite a sight", you know you need to hang out more with your friends and less with your camera and buildings. :lol:

When you start talking about building with terms like "meaner", "bare" and "quite a sight", you know you need to hang out more with your friends and less with your camera and buildings. :lol:

sounds like I've betrayed the thought processes that run through my mind...

but thats why it unabashedly says "skyscraper freak" in my profile :bowtie:

ayanami

Thanks. Our flat is in the mid-thirties. I really am looking forward to staying there, even though I will need to catch a bus for my nasi lemak at Ghimo.

At mid-thirties storey, you are very "safe". You should be able to see the sea, and perhaps even Sentosa.

ayanami, RafflesCity

Thanks for the recent photos. With the common floor - I think they call it the Sky Garden - the 22nd floor - it's easy to count the number of floors now. It seems that they manage to complete 2 floors a month - so they should reach the top by the end of the year. One year for the interior work and it should be done by the end of 2009? Hopefully :lol:

ayanami, RafflesCity

Thanks for the recent photos. With the common floor - I think they call it the Sky Garden - the 22nd floor - it's easy to count the number of floors now. It seems that they manage to complete 2 floors a month - so they should reach the top by the end of the year. One year for the interior work and it should be done by the end of 2009? Hopefully :lol:

To achieve TOP by end 2009 is certainly a realistic estimate. Yup, the sky garden will give you a panaromic view with lots of greenery. The view starts from left with the Bukit Timah Hill in the distant and sweeps all the way to the right with Orchard area in sight.

And not to worry, the Sky Garden safely clears Tanglin Regency and Tanglin view in height and therefore no blockage (the architecture has factored that in and therefore designed the sky garden at 22nd floor and not any lower.

Updates.

http://img145.imageshack.us/img145/851/dsc01080ya5.th.jpg

http://img145.imageshack.us/img145/4041/dsc01081bx2.th.jpg

Sorry for the small photos yah, photobucket was under maintaneance :bash:

You may try to use www.imageshack.us to host your pictures as well.

Imageshack and photobucket are probably the 2 larger free phot-hosting websites, although I think imageshack prefers the thumbnails to be linked.

Here is another shot, showing the structure in relation to the 30-storey Redhill blocks.

http://i77.photobucket.com/albums/j67/RCSSC/metropolitan.jpg

Here's a picture I took last year from the 30th floor of one of the Redhill blocks.

Don't know how to resize image so you'll have to double-click. The sea is a long way off!

http://img186.imageshack.us/img186/874/img2069im8.th.jpg (http://img186.imageshack.us/my.php?image=img2069im8.jpg)

Here's a picture I took last year from the 30th floor of one of the Redhill blocks.

Don't know how to resize image so you'll have to double-click. The sea is a long way off!

http://img186.imageshack.us/img186/874/img2069im8.th.jpg (http://img186.imageshack.us/my.php?image=img2069im8.jpg)

I have one unit Stack 10 over looking the pool going for $850 psf only. Grab!

What floor is that ?

27 November 2008

http://i77.photobucket.com/albums/j67/RCSSC/met2711.jpg

from what floor was that picture taken?

I go by almost everyday, on mrt.

Just wondering at night how loud is the noise/sound from the mrt on the lower floors. Some people also tell me the higher one is, the clearer/louder the sound. :nuts:

HLT, that was taken from the top floor of the Mandarin Hotel in Orchard Road, about level 39.

Someone mentioned about seaviews being visible from the higher floors. This is apparently the case considering the view from Orchard!

RafflesCity, thanks.

Our unit is on floor 35, and I was never quite sure to what extent we could see the sea because of our line of sight above the 30 and 20 floor HDBs. I've spent hours looking at google maps trying to see what came between us and the sea but your picture makes it that much clearer! However, I assume the ceiling height of the hotel is higher so the equivalent of 39 at the Metropolitan is the penthouse. Mind you, the Metropolitan is closer to the sea.

At mid-thirties storey, you are very "safe". You should be able to see the sea, and perhaps even Sentosa.

That "someone" is me. Somehow, I feel "vindicated".

has metropolitan TOP'ed?

has metropolitan TOP'ed?

Does the photo looks like it has TOP?

Does the photo looks like it has TOP?

Looks like quite some more work to go? mid year 09?

Recently when pass the site. Now they are painting the exterior.

8 March 2009

http://i77.photobucket.com/albums/j67/RCSSC/met0803.jpg

Been living 150m away from the site for a while and I can tell you this location's gonna be VERY noisy.
Sandwiched between the MRT track and Alexandra Road, plus Tiong Bahru Road and the MRT station itself. But this is gonna be nothing compared with the chinese drums and other loud traditional music that gets played every now and then around the area ^ ^ There's currently a tent near the MRT station and they were playing drums today... I can tell you it's damn noisy even from the 30th floor of those HDBs Hya mentioned ^ ^

Hopefully the windows will be top quality ;-)

hmm...am scared of the noise, planning to get a 30+ flr unit there...serious abt the noise? :nuts::nuts:

TOP estimated to be June/July 2009

Seems like the buildings are completed. Any updates?

Metropolitan is shaping up quite nicely
love the trellis/roofing at the top of the towers
really make it look nice

common facilities can be easily seen from MRT though

Metropolitan is shaping up quite nicely
love the trellis/roofing at the top of the towers
really make it look nice

common facilities can be easily seen from MRT though

I wonder if they are gonna have some outdoor greenery at the roofing/trellis, what with the growing popularity of sky gardens/facade greenery. Perhaps they can try to cover up the common facilities view with some greenery as well.

I go by almost everyday, on mrt.

Just wondering at night how loud is the noise/sound from the mrt on the lower floors. Some people also tell me the higher one is, the clearer/louder the sound. :nuts:

Went up to the HDB blocks behind stood @ 30 flr... sadly the sound of the mrt / construction around was v LOUD....wanted to buy a place here previously..but having second doubt after the visit... :(

Went up to the HDB blocks behind stood @ 30 flr... sadly the sound of the mrt / construction around was v LOUD....wanted to buy a place here previously..but having second doubt after the visit... :(

I'll let you know for sure once we take possession!

edit. wrong building

I'll let you know for sure once we take possession!

thanks so much. tempted to buy now.. :)

thanks so much. tempted to buy now.. :)


The reason for fearful of the MRT noise is it because you are looking for units facing Sentosa? How about considering units facing tanglin/Orchard?

The reason for fearful of the MRT noise is it because you are looking for units facing Sentosa? How about considering units facing tanglin/Orchard?

yeah. gonna look at the tanglin / orchard facing.

Just to check, I happen to find out that it seems that the rubbish chutes are located outside the unit and not within the unit. Is it true anyone?

Been living 150m away from the site for a while and I can tell you this location's gonna be VERY noisy.
Sandwiched between the MRT track and Alexandra Road, plus Tiong Bahru Road and the MRT station itself. But this is gonna be nothing compared with the chinese drums and other loud traditional music that gets played every now and then around the area ^ ^ There's currently a tent near the MRT station and they were playing drums today... I can tell you it's damn noisy even from the 30th floor of those HDBs Hya mentioned ^ ^

Hopefully the windows will be top quality ;-)

Hi Pengui,

which part are you staying? Just trying to assess the noise from maybe high floor.

any owner knows when it is going to TOP? I bought a unit there last week, am excited. =)

any owner knows when it is going to TOP? I bought a unit there last week, am excited. =)

Estimated TOP - June 2009 per the Metropolitan website - login to buyer's status check.

Estimated TOP - June 2009 per the Metropolitan website - login to buyer's status check.

Cool. thanks so much. Could u forward the url? guess I cant login yet as just purchase the unit and going through the paperworks now... cheers! :)

http://www.themetropolitancondo.com.sg/main.swf

Cool. thanks so much. Could u forward the url? guess I cant login yet as just purchase the unit and going through the paperworks now... cheers! :)


Congrats! I believe you can only login once the developer sent you your password after the paperworks with the lawyer.

Hehe... I guess we are neighbours now. 8)

I wonder if there are any other forum for Metropolitan owners. Looking forward to get the keys hopefully in June.

http://www.themetropolitancondo.com.sg/main.swf

thanks so much.

Last check with capitalland TOP in June 09. :banana:

http://www.themetropolitancondo.com.sg/main.swf

Congrats! I believe you can only login once the developer sent you your password after the paperworks with the lawyer.

Hehe... I guess we are neighbours now. 8)

I wonder if there are any other forum for Metropolitan owners. Looking forward to get the keys hopefully in June.

yeah cool...I will tagged along with the 1st buyer to collect keys hehe..if possible... 8) as i bought from subsale..