The full article can be found in The Business Times, Front Cover, 6 April 2018.
750,019 sq ft freehold development, Dairy Farm, could surpass the S$1.34 billion record held by the former Farrer Court.
Dairy Farm’s potential Gross Floor Area (GFA) is about 1.58 million square feet, which would translate into some 5,000 apartments based on an average size of about 1,000 sq ft per unit.
Located near Hillview MRT station, the estimated breakeven pricing of S$1,600-1,700 psf could be higher than the selling price of existing resale units in the vicinity. However, there are not many collective sale launches in the vicinity. This means that there will be less intense competition for the site. Given its location, the incoming developer would have to build more family-sized units.