Nearly 3,000 home owners in the five ongoing Build-To-Order (BTO) housing projects will face further delays with two large public BTO projects facing possible hold-ups as Greatearth Corp and Greatearth Construction main contractor for these sites has gone bust.
Buyers consisting of mainly younger couples aged between 25 to 35 years old in these 2,982 BTO units across these affected BTO projects: Sky Vista @ Bukit Batok, Senja Heights and Senja Ridges in Bukit Panjang, and Marsiling Grove in Woodlands have been affected.
The fifth one is West Coast Parkview in Clementi, located opposite West Coast Park. This serves as one of the Selective En bloc Redevelopment Scheme (Sers) replacement sites for residents in Blocks 513 to 520 West Coast Road.
Delayed Further
Buyers of Senja Ridges and Senja Heights who bought in 2016 would be most disappointed as they were expected to be completed in the last quarter of this year and the first quarter of 2022. Buyers of Sky Vista @ Bukit Batok, launched in August 2017, was expected to be completed in the third quarter of next year. Marsiling Grove's expected completion date was in the fourth quarter of 2022, and West Coast Parkview in the second quarter of 2023.
Buyers consisting of mainly younger couples aged between 25 to 35 years old in these 2,982 BTO units across these affected BTO projects: Sky Vista @ Bukit Batok, Senja Heights and Senja Ridges in Bukit Panjang, and Marsiling Grove in Woodlands have been affected.
The fifth one is West Coast Parkview in Clementi, located opposite West Coast Park. This serves as one of the Selective En bloc Redevelopment Scheme (Sers) replacement sites for residents in Blocks 513 to 520 West Coast Road.
Delayed Further
Buyers of Senja Ridges and Senja Heights who bought in 2016 would be most disappointed as they were expected to be completed in the last quarter of this year and the first quarter of 2022. Buyers of Sky Vista @ Bukit Batok, launched in August 2017, was expected to be completed in the third quarter of next year. Marsiling Grove's expected completion date was in the fourth quarter of 2022, and West Coast Parkview in the second quarter of 2023.
Senja Heights comprises 2 residential blocks which house 552 units of 2-room Flexi, 3-, and 4-room Flats. 1 block is 18 storeys high and the other is a staggered block with height ranging from 32 to 38 storeys.
Kiwi Lim from Huttons Asia is not surprised to see news of main contractors going bust as the government had already previously cautioned that developers may need to allow for main contractors to re-quote higher prices as contractors are faced with much higher construction costs due to Covid. But such an old and reputable main contractor like Greatearth going bust is news that came as a shock to many.
HDB could have allowed the main contractors to re-quote HDB with higher prices above what was originally agreed years ago for these ongoing projects which may lead to an unexpected cost increment of hundreds of millions of dollars for these 5 BTO projects - according to a rough off the cuff estimation.
Private condo developers have allowed their main cons to re-quote higher construction costs in order to prevent them from going bust - this has also led to developers raising the prices for current and upcoming new condo launches due to the unforeseen higher costs of building the new condo projects.
On 23 April 2021, Minister Lawrence Wong, who led the multi-ministry task force tackling Covid-19, said Covid had a major impact on the construction sector leading to longer wait time for the completion of Housing Board Build-To-Order (BTO) flats and private apartments as well as a huge rise in cost of labour and materials which has escalated by 30 per cent to 50 per cent.
Kiwi Lim believe at least one third of the almost 3,000 households may pull out of the BTO projects and switch to resale HDB flats in more matured estates or resale condos as these couples may not be willing to wait an additional 2 to 3 years on top of the number of years that they have already endured. Some of these couples already had babies or are finding it too stressful to stay with their in-laws especially from WFH arrangements at home.
HDB could have allowed the main contractors to re-quote HDB with higher prices above what was originally agreed years ago for these ongoing projects which may lead to an unexpected cost increment of hundreds of millions of dollars for these 5 BTO projects - according to a rough off the cuff estimation.
Private condo developers have allowed their main cons to re-quote higher construction costs in order to prevent them from going bust - this has also led to developers raising the prices for current and upcoming new condo launches due to the unforeseen higher costs of building the new condo projects.
On 23 April 2021, Minister Lawrence Wong, who led the multi-ministry task force tackling Covid-19, said Covid had a major impact on the construction sector leading to longer wait time for the completion of Housing Board Build-To-Order (BTO) flats and private apartments as well as a huge rise in cost of labour and materials which has escalated by 30 per cent to 50 per cent.
Kiwi Lim believe at least one third of the almost 3,000 households may pull out of the BTO projects and switch to resale HDB flats in more matured estates or resale condos as these couples may not be willing to wait an additional 2 to 3 years on top of the number of years that they have already endured. Some of these couples already had babies or are finding it too stressful to stay with their in-laws especially from WFH arrangements at home.
Greatearth Pte Ltd consisting of Greatearth Corp and Greatearth Construction is one of the most reputable main con in Singapore with awards and accolades received for a huge number of projects in the past
Greatearth Corp and Greatearth Construction Goes Bust
Greatearth Pte Ltd ("Greatearth" or the "Group") is famous in Singapore as a very reputable and Singapore's oldest and most established integrated building services companies with over 150 years of engineering and construction heritage together with its predecessors. Its competencies span the property value chain including Property Development, Engineering, Construction, as well as specialty services such as Geo-Technical Foundation Work and Procurement.
Construction Excellence
BCA Certificate Of Merit For
Construction Excellence
You may click here for all of the amazing list of awards and accolades received by Greatearth.
Greatearth Pte Ltd ("Greatearth" or the "Group") is famous in Singapore as a very reputable and Singapore's oldest and most established integrated building services companies with over 150 years of engineering and construction heritage together with its predecessors. Its competencies span the property value chain including Property Development, Engineering, Construction, as well as specialty services such as Geo-Technical Foundation Work and Procurement.
Construction Excellence
BCA Certificate Of Merit For
Construction Excellence
- The Rochester
- Paterson Suites
- Serangoon Gardens Country Club
- Raffles Town Club
- Orchid Country Club
You may click here for all of the amazing list of awards and accolades received by Greatearth.
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