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GLS Tender of Copen Grand Site

The GLS for the first EC site at Tengah was closed on May 25 2021 and awarded to Taurus Properties SG Pte Ltd (CDL & MCL Land) as the top bidder. A total of 7 bidders tendered for the site, but eventually was awarded to Taurus Properties SG with a top bid of $400,318.

The 99-year leasehold site has a size of 237,032 sqft, with a plot ratio of 2.8, translating the top bid to a $603 psf ppr.

PropNex head of research and content, Wong Siew Ying, mentioned “We anticipate that the potential selling price of the new Tengah EC could hover around $1,190 to $1,250 psf,”

CDL group chief executive, Sherman Kwek , also add on that the masterplan to develop Tengah into a smart and sustainable town is exciting. He also said “Currently, the demand for ECs remains extremely strong and this augurs well for the development. We are honoured by the opportunity to develop the first EC in this locale and to transform this expansive site into an attractive and high quality project that future homeowners would be proud of,”

Copen Grand EC Estimated Launch Price/Indicative Price

Kindly take note the above is merely an Indicative Price. It is not the final Selling Price. 

How is the launch price estimated?

Taurus Properties SG build houses and sell them as their business, and they need to generate profits for their shareholders as well. In estimated the launch price for Copen Grand, we need to consider the costs, expenses and the profit margin, before we can arrive at the selling price.

Land Cost

As mentioned above, the land was acquired through the GLS tender at $603 psf ppr. That will comprise the main bulk of the total costs.

Construction Cost

Generally, the construction costs for a mass market condominium like Copen Grand is about $350 psf.

Expense and Profit Margin

Construction cost + Land Cost = Base Cost
Base Cost = $603 psf + $350 psf = $953 psf

Once we have the base cost, we can now calculate the expense and profit margin, which is about 30% of the base cost.

Expense and Profit Margin = 30% x $953 psf = $286 psf

The expense and profit margin will mainly covers

1. administrative expenses such as staffing
2. sales and marketing expenses such as the agency commissions
3. finance costs that need to be paid to financial institutions
4. profit margin which is the profit the developer makes for the development

With all the costs and expenses covered, we can now estimate the launch price to be about $1,239. However, kindly take note that the price psf will vary too depending on the size of the unit etc. Generally, a smaller size unit will have a higher psf as compared to a bigger size unit.

(All prices for Copen Grand for Sale displayed here are for reference purposes. Prices are subject to change from time to time without prior notice. This webpage cannot be held responsible for any pricing inaccuracies, omissions and/or dispute.)