TeckWah

[dydx]

JTC's latest land tender on a choice 30-year leasehold land plot....
http://www.jtc.gov.sg/Sales-Rental/Gover...221113.pdf
The top bid of $120,078,500 works out to be a unit land cost of $2,694.50 per sq.m. of gross floor area for the proposed mixed industrial/commercial development, based on the land plot area of 12,732.8 sq.m. and the 3.5x max. permissible GPR (Gross Plot Ratio).

Teck Wah has a land plot close by which has a much longer lease term (30 + 29 years).....
http://infopub.sgx.com/FileOpen/1509710_...ileID=3455
and Teck Wah paid a land premium of only $7,735,640 back in 2011. This works out to be a unit land cost of only $341.64 per sq.m of gross floor area for the proposed mixed industrial/office development, based on the land plot area of 9,057 sq.m. and the max. 2.5x permissible GPR.

A news article on Mapletree - which paid the top bid of close to $120.1m in the latest land tender in Tai Seng by JTC - planning to spend as much as $250.0m on their proposed mixed property development project…..
http://www.straitstimes.com/archive/satu...g-20131221

On the other hand, Teckwah is expected to spend approx. $60.0m (including plant and machinery) for the initial lease term of 30 years, and another at least $15.0m (including by sub-tenants) - within 5 years after the issue of TOP - for an additional lease term of another 29 years on top of the initial lease term of 30 years.