How do you derive the construction cost for The Grandplus?

We derive construction cost by building up a cost model specific to the project’s type, scale, and specifications, benchmarked against current Singapore tender prices and EdgeProp research.

Key steps we use:
- Define project scope and specs
- Building type and height, unit mix, GFA/NSA, basement and carpark requirements, facade quality, finishes, M&E systems, and amenities like pools, clubhouses, landscaping.
- Establish base tender rate
- Benchmark a baseline cost per square metre of GFA from recent Singapore tenders and indices, adjusted for market conditions and contractor pricing trends. EdgeProp tracks tender price movements and developer expectations for cost pressures in Singapore’s construction market.
- Adjust for complexity and site factors
- Add or subtract for:
- Basement depth and groundwater control
- Site access, staging constraints, and crane logistics
- Prefabrication/PPVC adoption, which affects labour and program
- Façade complexity (unitized curtain wall vs simpler systems)
- High-spec interiors and smart-home packages
- Green and wellness certifications, EV infrastructure, renewables
- Tall-building premiums (structural, vertical transport, safety)
- Include preliminaries and overheads
- Main contractor prelims, site establishment, management, testing and commissioning, design coordination, and contingency for unknowns.
- Price M&E and specialist trades
- Mechanical ventilation/AC, electrical, fire protection, lifts, security/ICT, water features, landscaping, external works, and ACMV energy-efficiency upgrades.
- Account for external works and authorities
- Earthworks, piling/foundations, drainage, vehicular ingress/egress, reinstatement, plus authority compliance costs and fees.
- Time and escalation
- Apply construction duration and escalation to mid-point of construction to reflect current inflation and pipeline demand in Singapore.
- Professional fees and compliance
- Consultants, QP fees, BCA/URA submissions, shop drawings, BIM, testing, TOP/CSC processes.
- Risk and contingency
- Design development allowance, latent ground risks, supply-chain volatility.
- Benchmark and sanity-check
- Cross-check against comparable recent condo projects by height and spec, and reconcile with aggregate cost per unit and per GFA to ensure consistency.
- Integrate with EdgeProp’s development feasibility
- Combine land price, construction cost build-up, financing, taxes, buyer’s stamp duties, marketing, and expected margin to derive breakeven and target pricing using EdgeProp’s estimation framework.

If you can share the project’s GFA, number of basements, storeys, facade type, PPVC usage, and amenity level, I can produce a project-specific construction cost range and breakeven estimate aligned to current Singapore tender conditions.