Whistler Grand is a residential site that was a part of government land sales (GLS) that was sold by housing and development board (HDB) in the first quarter of 2017. It is located in the west region of Singapore under Clementi planning area. Whistler Grand Condo is listed under the confirmed list of sites. This site is 176,289 square feet. It is expected to house approximately 520 apartments units. This site was for sale and two big names of real estate world were willing to buy it. One is City Development limited and the other is China Construction.
CDL West Coast Condo The Whistler Grand
CDL Whistler Grand is closely linked to west coast area, and very well known there, having developed Monterey Park and 100 of trees, city development limited company won the 2 bids out of 3 sites of housing society. The tender was closed this January. The tender of West Coast Vale site got six bids. They also won the bid of $800 psf ppr in West Coast vale for a land parcel. Chief Executive Mr. Sherman Kwek said in an interview that they are seeing strong potential in Singapore’s residential market as it is recovering gradually, they will continue to find reasonable opportunities to increase their local land bank.
The Whistler Grand 36 Storeys Condo Singapore
Whistler Grand Condo will use West Coast Vale site to house two 36-storey buildings with around 730 apartments and a basement carpark. Ms. Song noted that the bid for West Coast Vale plots was 35 percent more than $592 psf ppr paid for that site which is still yet to be launched (the Twin View Project). MS Song estimates that breakeven of CDL for West Coast Vale plot $1250 psf and its average selling price of $1400 psf to $1500 psf. Their bid was 0.7 percent more than the next highest bid which was by china construction (south pacific) development.
CDL Bids for The Whistler Grand Condo
And the other property consultants estimated the same breakeven price for Whistler Grand West Coast Vale site to be around the same figure of $1250 pssf ppr. CDL bids for West Coast Vale was $474.2 million which works out for the land rate of $800 psf ppr. As I mentioned earlier that CDL was bidding for three sites, and this was bullish for highest bids exceeding or they are at the top of ending expectations. CDL mentioned for this site is just like the new condo at West Coast Vale that will comprise of 2 residential towers (which will have 36 story each)