HDB spends $13K for each carpark space. What a waste of money!

[Papsmearer]

HDB spending S$66m to add 5,000 more carpark lots
By Lim Zhi Ying | Posted: 01 October 2010 2205 hrs


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SINGAPORE : To ease the shortage of parking lots, the Housing & Development Board (HDB) is spending S$66 million to add 5,000 more lots in over 100 carparks in the next three years.

Serangoon Central is one such area to benefit from the move. A new carpark there will soon provide residents with 62 more parking lots.

Construction of the carpark will be completed at the end of next month.

Meanwhile, a shopping mall, Nex, which is opening in the area next month, is expected to add more parking lot woes to residents.

This is due to the possibility of shoppers competing for parking lots in nearby residential estates.

However, steps are being taken to counter these.

Seah Kian Peng, Member of Parliament for Marine Parade GRC, said: "Working with HDB and LTA, I think we have come up with a few of these measures - the removal of free parking on Sunday, converting more of the white lots to red lots, having the EPS system and certainly trying to see any other way to create additional lots."

 

[Cestbon]

I also wanted to post but U fast hand fast leg.
$66m for 5000 lot that about $13k/lot for contruction cost.
Some one must have pocket the money.

 

[silverfox@]

I also wanted to post but U fast hand fast leg.
$66m for 5000 lot that about $13k/lot for contruction cost.
Some one must have pocket the money.

Whoever subcontracts this is going to get a fat bonus. :o

Example $70 for season carpark for 5000 lots is about $350K collected per month, works out to $4.2M a year and would need 16 years to see some profit from investment made on carparks.

 

[Tengaboys.com]

errr.....i think you forgot to add on the summons

 

[Cestbon]

Whoever subcontracts this is going to get a fat bonus. :o

Example $70 for season carpark for 5000 lots is about $350K collected per month, works out to $4.2M a year and would need 16 years to see some profit from investment made on carparks.

Open car park need $13k/lot. $1k is enough. Where another $12 gone?
If multi- storey carpark only need less than half that amount.
You forget to include parking coupon and parking fine.
My question is why so expensive to built the car park?

 

[ChaoPappyPoodle]

Open car park need $13k/lot. $1k is enough. Where another $12 gone?
If multi- storey carpark only need less than half that amount.
You forget to include parking coupon and parking fine.
My question is why so expensive to built the car park?

They have to pay $40million for IT services and equipment. Without these they may actually more than 5,000. They will also be using state of the art lamparghini tractors. And don't be surprised when they go over budget.

 

[hairylee]

I also wanted to post but U fast hand fast leg.
$66m for 5000 lot that about $13k/lot for contruction cost.
Some one must have pocket the money.

You forgot HDB have been engaging Indian Accountant all these years.

 

[silverfox@]

Open car park need $13k/lot. $1k is enough. Where another $12 gone?
If multi- storey carpark only need less than half that amount.
You forget to include parking coupon and parking fine.
My question is why so expensive to built the car park?

My suspicions derives from the various LUPs being finished soon in various estates and there must be "new hot money" to be distributed to these contractors and workers. If not, got nothing for them to do.

Not factual but just my guess.

 

[Papsmearer]

I also wanted to post but U fast hand fast leg.
$66m for 5000 lot that about $13k/lot for contruction cost.
Some one must have pocket the money.

Hahaha, I am Quickdraw McGraw. The thing that totally amazes me is that MPs like Seah Kian Peng see nothing wrong with amount woh!!. WTF, probably he has never been in business before, and he fuck care spending tax payers money.

 

[Papsmearer]

Whoever subcontracts this is going to get a fat bonus. :o

Example $70 for season carpark for 5000 lots is about $350K collected per month, works out to $4.2M a year and would need 16 years to see some profit from investment made on carparks.

That is assuming u can find renters for all the lots all the time. Car ownership in sinkie land comes and goes. Now, a lot of people buying because its reasonably cheap. But when some factor kids in, they will sell their cars just as easily. Than u have lots of empty parking spots.

 

[Papsmearer]

Open car park need $13k/lot. $1k is enough. Where another $12 gone?
If multi- storey carpark only need less than half that amount.
You forget to include parking coupon and parking fine.
My question is why so expensive to built the car park?

Yes, don't forget the stupid MP Seah mentioned some of these lots are created simply by repainting the lines from red to white. So, there is even no construction required. The actual construction portion appears to be very little as he has mentioned they will try and maximize the space within what they have. Maybe make each parking spot smaller? So, truly, this $66 million is yet another mystery, quite like the YOG $103 million to $397 million. Someone somewhere getting very fat , mah.

 

[Ramseth]

I think it's more expensive than an aircraft carrier parking lot on USS Kittyhawk.

 

[Papsmearer]

They have to pay $40million for IT services and equipment. Without these they may actually more than 5,000. They will also be using state of the art lamparghini tractors. And don't be surprised when they go over budget.

Oh, I forgot, the lines drawn in each parking spot is using gold paint. The number of each spot is actually pearls embedded.