Sale Terms

Assumption

The land area is, A, 865,127 sq ft.

The current built-up is of land area.

The gifted built-up area to the developer is, a = (2.1 - r) x A, or a sq ft. The gifted area can yield 500 apartments, or more or less, depending on the developer's preference.

Sale Terms

The largest subjective variable is perhaps the quality of the finishes of the re-constructed condominium.

The winning developer has to consider the following:

• Re-build the existing 606 residential apartments and 17 shops, to the same size. The address number of each unit has to be retained, I presume, in order not to require any title changes.
• The re-construction has to bring the condominium into compliance with modern day regulations, and also to offer the amenities that residents expect, such as lifts on every floor, sheltered paths, covered car drop-off points, etc.
• The existing building locations can be re-aligned minimally to create the additional space to accomodate a few additional tower blocks for the new units. Increased density is to be expected as the full 2.1 plot ratio will be utilized.
• Additional floors can also be created beneath the lowest floors of blocks 2, 3, and 4 for the new units using new floor level numbers.
• Determine the value of the Quantum.

We will let free and open compeition, and the creativity and ingenuity of architects and developers to come up with the best plan.