Preliminary Budget Estimate For Total Development Cost Construction Essay

Published:

1.0 Introduction

In this project Lot 200 and 201 of Tai Po, client needs to concentrate on the out-going expenses plus profit is equal to incoming revenue. At the same time, clients want the projects complete within on time and to their required standard. Therefore we need deal with the establishment of the budget from the standpoint of the client's needs and resources, design of the project within the client's budget and deal with maintaining the budget through the production of working drawings and the construction of the project.

Out-going expenses plus profit:

Construction cost

Professional fees

Financing charges

Sales & marketing expenses

Profit

Land premium

Incoming revenue:

Sales proceeds

Rentals

Etc

2.0 Land premium

Lot 200

Lot 201

Average=

total=

Land price

HK$5.15 billion

HK$5.25 billion

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HK$5.20 billion

HK$10.40 billion

HK $ per sq ft

HK$7,145

HK$7,284

HK$7,215

HK$14,429

For our market research the land price is higher than other land cost in same region. Why bid the land premium set on this range? My clients known that land supply shortage and foreseen the good-looking of land decreasing by government From Tai Po. A completion of building the data is decreasing in 2010 (Ref: figure A).

Figure A

3.0 The budget estimates for the total construction cost of the proposed development are:

3.1 Construction cost

The construction cost comprises 10 portions:

Clearance

Site Investigation

Foundation and Substructure

Underground Carpark

Clubhouse

Residential Tower

House

Commercial

Infrastructure

External works

Our group used the information from similar project (The Palazzo and City walk project from Sino company…. etc.) cost and consultant that Davis Langdon & Seah and Rider Levett Bucknall Limit Company to calculate the estimating all of the cost. According to Construction Floor Area to consider the cost analysis, tender price index and estimation techniques for estimation.

Initial design stage:

Initial Integrated Design Concept is combining some idea and sources from design teams. Summary of estimate for site works: Clearance, Site Investigation, Foundation and Substructure, Underground Car park, Clubhouse, Residential tower, House, Commercial, Infrastructure and External work.

Proposed Residential Development

At Tai Po Town Lot 200 and Lot 201

SUMMARY OF ESTIMATE

Total Gross Floor Area (GFA):

134,647

m2

Total Construction Floor Area (CFA):

181,075

m2

Ratio of CFA/GFA:

1.35

 

Elements

CFA

Element Total

Elemental Cost

 

 

GFA

 

 

m2

$

$/M2

 

 

 

1

Demolition & Site Clearance

3,550,000

2

Site Investigation

10,650,000

3

Foundation and Substructure

200,000,000

4

Underground Car park

16,032

107,839,248

6,895.67

5

Club House

6,276

99,676,455

15,219.00

6

Residential Tower

139,972

1,613,751,185

11,529.10

116820

7

House

9,548

178,925,700.80

18,739.60

8580

8

Commercial

9,247

124,511,780

13,465.10

8256

9

Infrastructure

17,520,848

3,796.50

10

External Works

18,340,000

11

Contingencies

(5% for items 1 to 10)

118,738,261

Total anticipated construction

2,493,503,477

65848.47

cost at February 2010 price level

 

General Exclusions to Construction Cost

It includes:

Land cost, conversion premium

Financing charges, developer's overhead

Professional fees and legal fees

Sales and Marketing Expenses

Provision of utility service and drainage facilities of adequate capacity to the vicinity of the site

Fitting out works to tenant areas (for office or retail projects)

Operational items, equipment and machinery

Works outside the scope

Fluctuation in construction costs from the date of estimate to the date of tenders

Detail Breakdowns Elements, Element Total Cost and Elemental Cost:

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

 

Element Breakdowns Residential Tower

 

 

 

Total construction Floor Area (CFA). = 

 

139972m2

 

 

 

 

 

Elements

Element Total

Elemental Cost

%

 

 

 

$

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$/m2

 

1

Carcase:

 

 

 

1.1

Frame and slabs

259,648,060

1855

16.09%

1.2

External walls

65,086,980

465

4.03%

1.3

Internal walls

55,288,940

395

3.43%

1.4

Doors and shutters

83,283,340

595

5.16%

1.5

Windows

 

107,078,580

765

6.64%

 

 

570,385,900

4,075.00

35.35%

 

 

 

 

2

Finishings

 

 

 

2.1

Roof finishes

18,196,360

130

1.13%

2.2

Floor finishes

121,075,780

865

7.50%

2.3

Internal wall finishes

95,880,820

685

5.94%

2.4

Ceiling finishes

41,291,740

295

2.56%

2.5

External wall finishes

116,596,676

833

7.23%

2.6

Décor, graphics and signage

7,698,460

55

0.48%

 

 

400,739,836

2863

24.83%

3

Furniture and Fittings

 

 

3.1

Metal works and sundries

6,998,600

50

0.43%

3.2

Built in furniture

133,673,260

955

8.28%

3.3

Equipment

41,991,600

300

2.60%

 

 

182,663,460

1305

11.32%

4

Services

 

 

 

4.1

Sanitary fittings

41,991,600

300

2.60%

4.2

Plumbing and disposal

62,987,400

450

3.90%

4.3

Electrical

 

76,984,600

550

4.77%

4.3

Fire services

13,997,200

100

0.87%

4.4

Lifts

 

46,610,676

333

2.89%

4.5

Air conditioner

41,991,600

300

2.60%

4.6

Gas

 

11,897,620

85

0.74%

4.7

Builder's work, profit and attendance

16,796,640

120

1.04%

 

 

313,257,336

2,238.00

19.41%

5

Preliminaries

 

 

5.1

Preliminaries ( 10% for item 1 to 4)

146,704,653

1048.1

9.09%

 

 

 

 

Total for Residential tower

1,613,751,185

11,529.10

100.00%

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

Element Breakdowns House

 

Total construction Floor Area (CFA). =

9,548

m2

 

 

 

 

 

 

 

 

 

 

Elements

Element Total

Elemental Cost

%

 

$

$/m2

 

1

Carcase:

 

 

 

 

 

 

 

1.1

Frame and slabs

22,485,540

2355

12.57%

1.2

External walls

4,439,820

465

2.48%

1.3

Internal walls

3,771,460

395

2.11%

1.4

Doors and shutters

6,635,860

695

3.71%

1.5

Windows

 

12,937,540

1355

7.23%

 

 

50,270,220

5265

 

28.10%

 

 

 

 

 

 

2

Finishings

 

 

 

 

 

 

 

2.1

Roof finishes

2,434,740

255

 

1.36%

2.2

Floor finishes

10,483,704

1098

 

5.86%

2.3

Internal wall finishes

9,404,780

985

 

5.26%

2.4

Ceiling finishes

4,726,260

495

 

2.64%

2.5

External wall finishes

13,061,664

1368

 

7.30%

2.6

Décor, graphics and signage

95,480

10

 

0.05%

 

 

40,206,628

4211

 

22.47%

3

Furniture and Fittings

 

 

 

 

 

 

3.1

Metal works and sundries

4,344,340

455

 

2.43%

3.2

Built in furniture

11,982,740

1255

 

6.70%

3.3

Equipment

4,296,600

450

 

2.40%

 

 

20,623,680

2160

 

11.53%

4

Services

 

 

 

 

 

 

 

4.1

Sanitary fittings

4,296,600

450

 

2.40%

4.2

Plumbing and disposal

5,060,440

530

 

2.83%

4.3

Electrical

 

6,206,200

650

 

3.47%

4.3

Fire services

477,400

50

 

0.27%

4.5

Air conditioner

3,341,800

350

 

1.87%

4.6

Gas

 

811,580

85

 

0.45%

4.7

Swimming pool system

30,123,940

3155

 

16.84%

4.7

Builder's work, profit and attendance

1,241,240

130

 

0.69%

 

 

51,559,200

5,400.00

 

28.82%

5

Preliminaries

 

 

 

 

5.1

Preliminaries (10% for item 1 to 4)

16,265,973

1703.6

 

9.09%

 

 

 

 

 

 

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Total for House

 

 

178,925,701

 

18,739.60

 

100.00%

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

 

 

Element Breakdowns - Underlllgrounddd Car Park

 

 

Total construction Floor Area (CFA).=

16032

m2

 

 

 

 

 

 

 

 

 

 

 

 

Elements

 

 

Element Total

 

 

Elemental Cost

 

 

%

 

 

 

 

 

 

 

 

 

 

 

1

ELS & Excavation

 

 

 

 

 

 

 

 

 

1.1

ELS

 

 

17,298,528

 

 

1079

 

 

16.04%

 

1.2

Excavation

 

6,733,440

 

 

420

 

 

6.24%

 

 

 

 

 

24,031,968

 

 

1499

 

 

22.28%

 

 

 

 

 

 

 

 

 

 

 

 

 

2

Carcase:

 

 

 

 

 

 

 

 

 

 

2.1

Frame and slabs

29,819,520

1860

27.65%

2.2

External walls

9,058,080

565

8.40%

2.3

Internal walls

801,600

50

0.74%

2.4

Doors and shutters

160,320

10

0.15%

 

 

 

39,839,520

2,485.00

 

36.94%

 

 

 

 

 

 

 

 

 

3

Finishings

 

 

 

 

 

 

 

 

 

3.1

Floor finishes

5,691,360

355

 

5.28%

 

3.2

Internal wall finishes

3,366,720

210

 

3.12%

 

3.3

Ceiling finishes

3,366,720

210

 

3.12%

 

3.4

Wall waterproofing

1,571,136

98

 

1.46%

 

3.5

Décor, graphics and signage

801,600

50

 

0.74%

 

 

 

 

14,797,536

923

 

13.72%

 

4

Furniture and Fittings

 

 

 

 

 

 

 

 

 

4.1

Metal works and sundries

2,004,000

125

 

1.86%

 

 

 

 

2,004,000

125

 

1.86%

 

5

Services

 

 

 

 

 

 

 

 

 

 

5.1

Plumbing and disposal

240,480

15

 

0.22%

 

5.2

Electrical

 

5,691,360

355

 

5.28%

 

5.3

Fire services

6,941,856

433

 

6.44%

 

5.4

Lifts

 

1,843,680

115

 

1.71%

 

5.5

Ventilation

2,164,320

135

 

2.01%

 

5.6

Builder's work, profit and attendance

480,960

30

 

0.45%

 

 

 

 

17,362,656

1,083.00

 

16.10%

 

6

Preliminaries

 

 

 

 

 

 

 

 

 

6.1

Preliminaries (10% for item 1 to 4)

9,803,568

780.67

 

9.09%

 

 

 

 

 

 

 

 

 

Total for

Car park

 

107,839,248

6,895.67

 

100.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

Element Breakdowns-Underground Car Park

Total Construction Floor Area (CFA)= 16032 m2

Element $ Elemental Total $ Elemental Cost $/m2 %

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

Element Breakdowns Clubhouse

Total Construction Floor Area (CFA)= 6276 m2

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

 

 

 

 

 

 

Element Breakdowns Clubhouse

 

 

 

Total construction Floor Area (CFA).=

6276

m2

 

 

 

 

 

 

 

 

 

 

Elements

Element Total

Elemental Cost

%

 

 

 

 

 

$

 

 

$/m2

 

 

 

 

1

Carcase:

 

 

 

 

 

 

 

 

 

 

1.1

Frame and slabs

13,104,288

2,088.00

 

13.15%

 

1.2

External walls

2,918,340

465

 

2.93%

 

1.3

Internal walls

2,479,020

395

 

2.49%

 

1.4

Doors and shutters

7,248,780

1155

 

7.27%

 

 

 

 

25,750,428

4,103.00

 

25.83%

 

 

 

 

 

 

 

 

 

2

Finishings

 

 

 

 

 

 

 

 

 

2.2

Floor finishes

6,621,180

1055

 

6.64%

 

2.3

Internal wall finishes

10,248,708

1633

 

10.28%

 

2.4

Ceiling finishes

4,110,780

655

 

4.12%

 

2.5

External wall finishes

9,727,800

1550

 

9.76%

 

2.6

Décor, graphics and signage

690,360

110

 

0.69%

 

 

 

 

31,398,828

5003

 

31.50%

 

3

Furniture and Fittings

 

 

 

 

 

 

 

 

 

3.1

Metal works and sundries

1,851,420

295

 

1.86%

 

3.2

Built in furniture

3,545,940

565

 

3.56%

 

3.3

Equipment

4,317,888

688

 

4.33%

 

 

 

 

9,715,248

1548

 

9.75%

 

4

Services

 

 

 

 

 

 

 

 

 

 

4.1

Sanitary fittings

1,255,200

200

 

1.26%

 

4.2

Plumbing and disposal

2,089,908

333

 

2.10%

 

4.3

Electrical

 

3,138,000

500

 

3.15%

 

4.3

Fire services

5,993,580

955

 

6.01%

 

4.4

Lifts

 

1,464,379

233.33

 

1.47%

 

4.5

Air conditioner

4,738,380

755

 

4.75%

 

4.6

Gas

 

332,628

53

 

0.33%

 

4.7

Swimming pool system

4,110,780

655

 

 

 

4.8

Builder's work, profit and attendance

627,600

100

 

0.63%

 

 

 

 

23,750,455

3,784.33

 

19.70%

 

5

Preliminaries

 

 

 

 

 

5.1

Preliminaries (10% for item 1 to 4)

9,061,496

780.67

 

9.09%

 

 

 

 

 

 

 

 

 

Total for Clubhouse

 

 

99,676,455

 

 

15,219.00

 

 

95.88%

 

Element $ Elemental Total $ Elemental Cost $/m2 %

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

Element Breakdowns Non-industrial

Total Construction Floor Area (CFA)= 9247 m2

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

 

 

 

 

 

Element Breakdowns Non-industrial

 

 

 

Total construction Floor Area (CFA).=

9247

m2

 

 

 

 

 

 

 

 

 

 

Elements

 

 

Element Total

 

Elemental Cost

 

%

 

 

 

 

 

$

 

 

$/m2

 

 

 

 

1

Carcase:

 

 

 

 

 

 

 

 

 

 

1.1

Frame and slabs

18,383,036

1,988.00

14.76%

1.2

External walls

3,791,270

410

3.04%

1.3

Internal walls

5,853,351

633

4.70%

1.4

Doors and shutters

7,083,202

766

5.69%

1.5

Windows

 

231,175

25

0.19%

 

 

 

35,342,034

3,822.00

 

28.38%

 

 

 

 

 

 

 

 

 

2

Finishings

 

 

 

 

 

 

 

 

 

2.1

Floor finishes

7,859,950

850

 

6.31%

 

2.2

Internal wall finishes

15,100,351

1633

 

12.13%

 

2.3

Ceiling finishes

6,056,785

655

 

4.86%

 

2.4

External wall finishes

14,332,850

1550

 

11.51%

 

2.5

Décor, graphics and signage

1,017,170

110

 

0.82%

 

 

 

 

44,367,106

4798

 

35.63%

 

3

Furniture and Fittings

 

 

 

 

 

 

 

 

 

3.1

Metal works and sundries

2,727,865

295

 

2.19%

 

3.2

Built in furniture

4,623,500

500

 

3.71%

 

3.3

Equipment

462,350

50

 

0.37%

 

 

 

 

7,813,715

845

 

6.28%

 

4

Services

 

 

 

 

 

 

 

 

 

 

4.1

Sanitary fittings

878,465

95

 

0.71%

 

4.2

Plumbing and disposal

1,692,201

183

 

1.36%

 

4.3

Electrical

 

6,056,785

655

 

4.86%

 

4.4

Fire services

8,830,885

955

 

7.09%

 

4.5

Air conditioner

6,981,485

755

 

5.61%

 

4.6

Gas

 

305,151

33

 

0.25%

 

4.7

Builder's work, profit and attendance

924,700

100

 

0.74%

 

 

 

 

25,669,672

2,776.00

 

20.62%

 

5

Preliminaries

 

 

 

 

 

 

 

 

 

5.1

Preliminaries (10% for item 1 to 4)

11,319,253

1224.1

 

9.09%

 

 

 

 

 

 

 

 

 

Total for Non-industrial

 

124,511,780

 

 

13,465.1

 

 

100.00%

 

Element $ Elemental Total $ Elemental Cost $/m2 %

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

 

 

 

 

 

 

Element Breakdowns Infrastructure

 

 

 

Total construction Floor Area (CFA).=

4615

m2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Elements

Element Total

Elemental Cost

%

 

 

 

 

 

$

 

 

$/m2

 

 

 

 

1

Access Road

 

 

 

 

 

 

 

 

 

1.1

Concrete Road

1,615,250

 

 

350

 

 

9.22%

 

 

 

 

1,615,250

350

 

9.22%

 

2

Road Furniture and Signage

 

 

 

 

 

 

 

 

 

2.1

Road furniture & signage

507,650

110

 

2.90%

 

2.2

Road marking

92,300

 

 

20

 

0.53%

 

 

 

 

599,950

130

 

3.42%

 

3

Road Drain

 

 

 

 

 

 

 

 

 

3.1

Drainage

 

1,176,825

255.00

 

6.72%

 

 

 

 

 

 

 

 

 

4

Fence Wall

 

 

 

 

 

 

 

 

 

4.1

Fence Wall

13,789,620

2,988.00

 

78.70%

 

 

 

 

 

 

 

 

 

5

Preliminaries

 

 

 

 

 

 

 

 

 

5.1

Preliminaries (10% for item 1 to 3)

339,203

73.5

 

1.94%

 

 

 

 

 

 

 

 

 

Total for Infrastructure

 

17,520,848

 

 

3,796.50

 

 

100.00%

 

Proposed Private Residential and Non-industrial Development at Tai Po Town Lots 200 and 201

Element Breakdowns Infrastructure

Total Construction Floor Area (CFA)= 4615 m2

Element $ Elemental Total $ Elemental Cost $/m2 %

In summary, the schedule of construction floor area as follow: