Building Investment (September - October 2018)
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5-acre<br />
100 units per acre (Table 3).<br />
ITEM<br />
QUANTITY<br />
COST<br />
PER UNIT<br />
TOTAL COST<br />
Gross Development Value (GDV) 500 units RM250,000 RM125,000,000<br />
Land cost<br />
5 acres *RM110 per ft 2 RM23,958,000<br />
<strong>Building</strong> Cost<br />
- Apartments 450,000ft 2 *RM95 per ft 2 RM42,750,000<br />
- Podium car park 1,050 bays *RM18,000 per bay RM18,900,000<br />
Total <strong>Building</strong> Cost<br />
RM61,650,000<br />
Infrastructure Cost<br />
- Road, drainage, services road 5 acres *RM1,000,000 per acre RM5,000,000<br />
- Landscape 5 acres *RM650,000 per acre RM3,250,000<br />
- Upgrading cost for traffic<br />
disbursement<br />
- - *RM1,000,000<br />
Facilities Cost<br />
- TNB sub-station 1 no. *RM150,000 RM150,000<br />
- Refuse chamber 1 no. *RM80,000 RM80,000<br />
- Surau 1 no. *RM50,000 RM50,000<br />
- Guard house 1 no. *RM60,000 RM60,000<br />
Total Facilities Cost RM340,000<br />
Capital Contributions & Compliance Costs<br />
- Land conversion premium<br />
- (Agriculture to residential)<br />
15% of<br />
market value<br />
Total Infrastructure Cost<br />
RM110 per ft 2<br />
- Development order/Planning fees 500 units RM50 RM25,000<br />
- <strong>Building</strong> plan & Infra fees 500 units RM150 RM75,000<br />
- Survey fees 5 acres RM5,000 RM25,000<br />
- Strata title application 500 units RM1,200 RM600,000<br />
RM500<br />
- ISF contribution – road 450,000 ft 2 (for every 1,000ft 2 )<br />
RM225,000<br />
- ISF contribution – drainage 5 acres RM5,000 RM25,000<br />
- Development charges - 1.5% of GDV RM1,875,000<br />
- Contribution to TNB 500 units RM450 RM225,000<br />
- Contribution to IWK - 1.0% of GDV RM1,250,000<br />
- Contribution to SYABAS<br />
– residential<br />
- 0.25% of GDV RM312,500<br />
Total Capital Contributions & Compliance Costs RM8,231,200<br />
Other Soft Costs<br />
- Professional fees<br />
- *6% of Construction Cost RM4,768,272<br />
- Sales & marketing &<br />
administration cost<br />
- *1.5% of GDV RM1,875,000<br />
Total Soft Cost RM6,643,272<br />
(*Estimation is made based on common practice and market price)<br />
Table 3: Breakdown of development cost for an average standard apartment.<br />
RM9,250,000<br />
RM3,593,700<br />
<br />
is RM8,231,200 or 6.6%The Total<br />
<br />
RM79,471,200; couple with Land<br />
Cost (RM23,958,000) and (RM6,643,272) can result a total of RM110,072,472<br />
or 88%<br />
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