a) Gross Development Value

Total area per Unit A (per sqft) 800.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit A
No. of Unit A

Total area per Unit B (per sqft) 1,200.00

Selling price RM444 (per sqft) 444.00
Selling price per unit B
No. of Unit B

Total area per Unit C (per sqft) 1,500.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit C
No. of Unit C
Total Gross Development Value (GDV)

b) Development Cost

Building costs
Site clearance and preparation works 15,000.00
Building costs
Estimated building cost
Gross area 1,746.58 m2 @ RM1500.00 per m2 2,619,870.00
Basement area 24,744.32 sq ft @ RM67.80 per sq ft 1,677,664.90
External works 1,111,950.00
Total construction cost

Professional Fees
Architects 266,342.21
Consulting Engineers 216,979.40
Quantity Surveyors 114,456.63
Project Managers 41,768.53

Ancillary costs 150,000.00

Building cost and Professional fees

Contingencies 5%

Building cost, Professional fees and Contingencies

Other costs
Site investigations 10,000.00
Planning fees 5,000.00
Building Regulations 20,000.00
Bank legal/ Professional fees 0.50% of GDV 417,360.00
Bank arrangement fees 1.00% of GDV 834,720.00
Developer’s legal fees 0.50% of GDV 417,360.00

Building cost, Professional fees, Contingencies and Other

cost

Finance costs
Interest on building costs, professional fees, other costs and
funding fees divided by half over building period of 30
months 197,843.57
Interest on building costs, professional fees, other costs and
funding fees over void period of 9 months 119,568.28

Building cost, Professional fees, Other cost and Finance

Costs

Letting and sale cost

Property sale agents @ 3% GDV 2,504,160.00
Promotion / marketing 25,000.00

Building cost, Professional fees, Other cost, Finance Costs

and letting and sales costs

Developer’s Profit
% on total development costs excluding land cost and interest
on land cost

Net total development cost

Developer profit
less developer profit on land cost
Future balance (including interest on land cost and
acquisition cost)
less interest on land and acquisition cost for total
development and void period (PV)

less acquisition cost

Residual site value
 355,200.00
40
14,208,000.00

532,800.00
80
42,624,000.00

666,000.00
40 26,640,000.00
83,472,000.00

5,424,484.90

639,546.77

150,000.00

6,214,031.67
310,701.58

6,524,733.25
1,704,440.00

8,229,173.25

317,411.84

8,546,585.09

2,529,160.00

11,075,745.09

1,661,361.76

12,737,106.86
70,734,893.14
9,226,290.00

61,508,603.00

0.9320 4,182,585.00
57,326,018.00
1,398,196.00
55,927,822.00
Total area per Unit A (per sqft) 800
Total area per Unit B (per sqft) 1200
Total area per Unit C (per sqft) 1500
Selling price (per m2) 444.00
No. of Unit A 40
No. of Unit B 80
No. of Unit C 40

Gross area 1,746.58 sq ft

Basement Area 24,744.32 sq ft
Basement Price (RM) 67.80 sq ft
Construction cost (RM) 1500.00 per square metre
Site clearance and preparation works 15,000.00
External works 1,111,950.00

Professional fees
Architect 4.91% building and external costs
Consulting Engineers 4.00% building and external costs
Quantity surveyor 2.11% building and external costs
Project manager 0.77%

Ancillary cost 150,000.00

Contingencies 5% of construction cost

Site investigations 10,000.00
Planning fees 5,000.00
Building regulations 20,000.00
Bank’s legal/professional fees 0.50% of GDV
Bank’s arrangement fee 1.00% of GDV
Developer’s legal fees 0.50% of GDV

Interest rate 1.88% compounded monthly

Lead-in period 6 months
Construction period 30 months
Void period 9 months
Property sale agent’s fees 3% of GDV
Promotion/marketing 25,000.00
Profit on TDC 15% total development costs
Development's profit on land cost 15%
Interest on land & acquisition cost 8.25%
Site acquisition cost 2.50%
a) Gross Development Value

Total area per Unit A (per sqft) 800.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit A
No. of Unit A

Total area per Unit B (per sqft) 1,200.00

Selling price RM444 (per sqft) 444.00
Selling price per unit B
No. of Unit B

Total area per Unit C (per sqft) 1,500.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit C
No. of Unit C
Total Gross Development Value (GDV)

b) Development Cost

Building costs
Site clearance and preparation works 15,000.00
Building costs
Estimated building cost
Gross area 1,746.58 m2 @ RM1500.00 per m2 2,619,870.00
Basement area 24,744.32 sq ft @ RM67.80 per sq ft 1,677,664.90
External works 1,111,950.00
Total construction cost

Professional Fees
Architects 266,342.21
Consulting Engineers 216,979.40
Quantity Surveyors 114,456.63
Project Managers 41,768.53

Ancillary costs 150,000.00

Building cost and Professional fees

Contingencies 5%

Building cost, Professional fees and Contingencies

Other costs
Site investigations 10,000.00
Planning fees 5,000.00
Building Regulations 20,000.00
Bank legal/ Professional fees 0.50% of GDV 417,360.00
Bank arrangement fees 1.00% of GDV 834,720.00
Developer’s legal fees 0.50% of GDV 417,360.00

Building cost, Professional fees, Contingencies and Other

cost

Finance costs
Interest on building costs, professional fees, other costs and
funding fees divided by half over building period of 30
months 197,843.57
Interest on building costs, professional fees, other costs and
funding fees over void period of 9 months 119,568.28

Building cost, Professional fees, Other cost and Finance

Costs

Letting and sale cost

Property sale agents @ 3% GDV 2,504,160.00
Promotion / marketing 25,000.00

Building cost, Professional fees, Other cost, Finance Costs

and letting and sales costs

Developer’s Profit
% on total development costs excluding land cost and interest
on land cost

Net total development cost

Developer profit
less developer profit on land cost
Future balance (including interest on land cost and
acquisition cost)
less interest on land and acquisition cost for total
development and void period (PV)

less acquisition cost

Residual site value
 355,200.00
40
14,208,000.00

532,800.00
80
42,624,000.00

666,000.00
40 26,640,000.00
83,472,000.00

5,424,484.90

639,546.77

150,000.00

6,214,031.67
310,701.58

6,524,733.25
1,704,440.00

8,229,173.25

317,411.84

8,546,585.09

2,529,160.00

11,075,745.09

1,661,361.76

12,737,106.86
70,734,893.14
9,226,290.00

61,508,603.00

0.9320 4,182,585.00
57,326,018.00
1,398,196.00 Selling p
55,927,822.00 344.00
1,300.00 42318365.00
1,400.00 42124763.00
Construction cost
(RM/m2)
Construction cost
1,500.00 41931161.00
(RM/m2)
1,600.00 41737560.00
1,700.00 41543958.00
Total area per Unit A800
Total area per Unit B1200
Total area per Unit C1500
Selling price (per
444.00
m2)
No. of Unit A 40
No. of Unit B 80
No. of Unit C 40

Gross area 1,746.58 sq ft

Basement Area 24,744.32 sq ft
Basement Price (RM67.80 sq ft
Construction cost ( 1500.00 per square metre
Site clearance and p 15,000.00
External works 1,111,950.00

Professional fees
Architect 4.91% building and external costs
Consulting Engineers4.00% building and external costs
Quantity surveyor 2.11% building and external costs
Project manager 0.77%

Ancillary cost 150,000.00

Contingencies 5% of construction cost

Site investigations 10,000.00
Planning fees 5,000.00
Building regulations20,000.00
Bank’s legal/professi0.50% of GDV
Bank’s arrangement 1.00% of GDV
Developer’s legal fe 0.50% of GDV

Interest rate 1.88% compounded monthly

Lead-in period 6 months
Construction period 30 months
Void period 9 months
Property sale agent’s3% of GDV
Promotion/marketin 25,000.00
Profit on TDC 15% total development costs
Development's profit15%
Interest on land & ac8.25%
Site acquisition cost 2.50%
 Selling price (RM/sq ft)
394.00 444.00 494.00 544.00
49316696.00 56315025.00 63313356.00 70311687.00
49123094.00 56121424.00 63119753.00 70118084.00
48929492.00 55927822.00 62926152.00 69924483.00
48735891.00 55734221.00 62732551.00 69730881.00
48542289.00 55540619.00 62538948.00 69537279.00
a) Gross Development Value

Total area per Unit A (per sqft) 800.00

Selling price (RM444 (per sqft) 400.00
Selling price per unit A
No. of Unit A

Total area per Unit B (per sqft) 1,200.00

Selling price RM444 (per sqft) 400.00
Selling price per unit B
No. of Unit B

Total area per Unit C (per sqft) 1,500.00

Selling price (RM444 (per sqft) 400.00
Selling price per unit C
No. of Unit C
Total Gross Development Value (GDV)

b) Development Cost

Building costs
Site clearance and preparation works 15,000.00
Building costs
Estimated building cost
Gross area 1,746.58 m2 @ RM1500.00 per m2 2,707,199.00
Basement area 24,744.32 sq ft @ RM67.80 per sq ft 1,677,664.90
External works 1,111,950.00
Total construction cost

Professional Fees
Architects 270,630.06
Consulting Engineers 220,472.56
Quantity Surveyors 116,299.27
Project Managers 42,440.97

Ancillary costs 150,000.00

Building cost and Professional fees

Contingencies 5%

Building cost, Professional fees and Contingencies

Other costs
Site investigations 10,000.00
Planning fees 5,000.00
Building Regulations 20,000.00
Bank legal/ Professional fees 0.50% of GDV 376,000.00
Bank arrangement fees 1.00% of GDV 752,000.00
Developer’s legal fees 0.50% of GDV 376,000.00

Building cost, Professional fees, Contingencies and Other

cost

Finance costs
Interest on building costs, professional fees, other costs and
funding fees divided by half over building period of 30
months 252,269.49
Interest on building costs, professional fees, other costs and
funding fees over void period of 9 months 127,122.77

Building cost, Professional fees, Other cost and Finance

Costs

Letting and sale cost

Property sale agents @ 3% GDV 2,256,000.00
Promotion / marketing 25,000.00

Building cost, Professional fees, Other cost, Finance Costs

and letting and sales costs

Developer’s Profit
% on total development costs excluding land cost and interest
on land cost

Net total development cost

Developer profit
less developer profit on land cost
Future balance (including interest on land cost and
acquisition cost)
less interest on land and acquisition cost for total
development and void period (PV)

less acquisition cost

Residual site value
 320,000.00
40
12,800,000.00

480,000.00
80
38,400,000.00

600,000.00
40 24,000,000.00
75,200,000.00

5,511,813.90

649,842.86

150,000.00

6,311,656.75
315,582.84

6,627,239.59
1,539,000.00

8,166,239.59

379,392.26

8,545,631.85

2,281,000.00

10,826,631.85

1,082,663.19

11,909,295.04
63,290,704.96
5,753,700.00

57,537,005.00

0.9186 4,683,512.00
52,853,493.00
1,289,110.00
51,564,383.00
Total area per Unit A (per sqft)
Total area per Unit B (per sqft)
Total area per Unit C (per sqft)
Selling price (per m2)
No. of Unit A
No. of Unit B
No. of Unit C

Gross area
Basement Area
Basement Price (RM)
Construction cost (RM)
Site clearance and preparation works
External works

Professional fees
Architect
Consulting Engineers
Quantity surveyor
Project manager

Ancillary cost

Contingencies
Site investigations
Planning fees
Building regulations
Bank’s legal/professional fees
Bank’s arrangement fee
Developer’s legal fees

Interest rate
Lead-in period
Construction period
Void period
Property sale agent’s fees
Promotion/marketing
Profit on TDC
Development's profit on land cost
Interest on land & acquisition cost
Site acquisition cost
800
1200
1500
400.00
40
80
40

1,746.58 sq ft
24,744.32 sq ft
67.80 sq ft
1550.00 per square metre
15,000.00
1,111,950.00

4.91% building and external costs

4.00% building and external costs
2.11% building and external costs
0.77%

150,000.00

5% of construction cost
10,000.00
5,000.00
20,000.00
0.50% of GDV
1.00% of GDV
0.50% of GDV

2.00% compounded monthly

6 months
36 months
9 months
3% of GDV
25,000.00
15% total development costs
10%
8.25%
2.50%
方案摘要
当前值: Realistic Best Worst
可变单元格:
Selling_price 400.00 444.00 500.00 400.00
Construction_cost 1550.00 1500.00 1450.00 1550.00
Interest_rate 2.00% 1.88% 1.50% 2.00%
Developer_profit 10% 15% 20% 10%
Construction_period 36 30 24 36
结果单元格:
Residual_Site_Value 51,564,383.00 55,927,822.00 62,188,036.00 51,564,383.00
注释: “当前值”这一列表示的是在
建立方案汇总时，可变单元格的值。
每组方案的可变单元格均以灰色底纹突出显示。
a) Gross Development Value

Total area per Unit A (per sqft) 800.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit A
No. of Unit A

Total area per Unit B (per sqft) 1,200.00

Selling price RM444 (per sqft) 444.00
Selling price per unit B
No. of Unit B

Total area per Unit C (per sqft) 1,500.00

Selling price (RM444 (per sqft) 444.00
Selling price per unit C
No. of Unit C
Total Gross Development Value (GDV)

b) Development Cost

Building costs
Site clearance and preparation works 15,000.00
Building costs
Estimated building cost
Gross area 1,746.58 m2 @ RM1500.00 per m2 2,898,447.32
Basement area 24,744.32 sq ft @ RM67.80 per sq ft 1,677,664.90
External works 1,111,950.00
Total construction cost

Professional Fees
Architects 280,020.35
Consulting Engineers 228,122.49
Quantity Surveyors 120,334.61
Project Managers 43,913.58

Ancillary costs 150,000.00

Building cost and Professional fees

Contingencies 5%

Building cost, Professional fees and Contingencies

Other costs
Site investigations 10,000.00
Planning fees 5,000.00
Building Regulations 20,000.00
Bank legal/ Professional fees 0.50% of GDV 417,360.00
Bank arrangement fees 1.00% of GDV 834,720.00
Developer’s legal fees 0.50% of GDV 417,360.00

Building cost, Professional fees, Contingencies and Other

cost

Finance costs
Interest on building costs, professional fees, other costs and
funding fees divided by half over building period of 30
months 205,705.04
Interest on building costs, professional fees, other costs and
funding fees over void period of 9 months 124,319.42

Building cost, Professional fees, Other cost and Finance

Costs

Letting and sale cost

Property sale agents @ 3% GDV 2,504,160.00
Promotion / marketing 25,000.00

Building cost, Professional fees, Other cost, Finance Costs

and letting and sales costs

Developer’s Profit
% on total development costs excluding land cost and interest
on land cost

Net total development cost

Developer profit
less developer profit on land cost
Future balance (including interest on land cost and
acquisition cost)
less interest on land and acquisition cost for total
development and void period (PV)

less acquisition cost

Residual site value
 355,200.00
40
14,208,000.00

532,800.00
80
42,624,000.00

666,000.00
40 26,640,000.00
83,472,000.00

5,703,062.21

672,391.03

150,000.00

6,525,453.25
326,272.66

6,851,725.91
1,704,440.00

8,556,165.91

330,024.45

8,886,190.36

2,529,160.00

11,415,350.36

1,655,225.80

13,070,576.17
70,401,423.83
8,915,464.00

61,485,960.00

0.9320 4,181,045.00
57,304,915.00
1,397,681.00
55,907,234.00
Total area per Unit A (per sqft) 800
Total area per Unit B (per sqft) 1200
Total area per Unit C (per sqft) 1500
Selling price (per m2) 444.00
No. of Unit A 40
No. of Unit B 80
No. of Unit C 40

Gross area 1,746.58 sq ft

Basement Area 24,744.32 sq ft
Basement Price (RM) 67.80 sq ft
Construction cost (RM) 1659.50 per square metre
Site clearance and preparation works 15,000.00
External works 1,111,950.00

Professional fees
Architect 4.91% building and external costs
Consulting Engineers 4.00% building and external costs
Quantity surveyor 2.11% building and external costs
Project manager 0.77%

Ancillary cost 150,000.00

Contingencies 5% of construction cost

Site investigations 10,000.00
Planning fees 5,000.00
Building regulations 20,000.00
Bank’s legal/professional fees 0.50% of GDV
Bank’s arrangement fee 1.00% of GDV
Developer’s legal fees 0.50% of GDV

Interest rate 1.88% compounded monthly

Lead-in period 6 months
Construction period 30 months
Void period 9 months
Property sale agent’s fees 3% of GDV
Promotion/marketing 25,000.00
Profit on TDC 15% total development costs
Development's profit on land cost 14.5%
Interest on land & acquisition cost 8.25%
Site acquisition cost 2.50%
Estimated Probability of Outcomes
Probability
Variables
Original (-10%) Original value Original (+10%)
Construction
0.1 0.4 0.5
cost
Developer
0.1 0.5 0.4
profit

Calculation of Expected Value

Outcome â Probability p Sample Outcome (p x â)
Construction 1350.00 0.10 135.00
cost 1500.00 0.40 600.00
1650.00 0.50 825.00
Total 1560.00

Outcome â Probability p Sample Outcome (p x â)

Developer 0.135 0.10 0.0135
profit 0.150 0.50 0.0750
0.165 0.40 0.0660
Total 0.1545

Calculation of Variance
Outcome â Expected value ã (â-ã)
Construction 1350.00 1560.00 (210.00)
cost 1500.00 1560.00 (60.00)
1650.00 1560.00 90.00
Total

Outcome â Expected value ã (â-ã)

Developer 0.1350 0.1545 (0.0195)
profit 0.1500 0.1545 (0.0045)
0.1650 0.1545 0.0105
Total

Calculation of Standard Deviation and Certainty Equivalents

Standard deviation + or - Expected value ã
Construction
99.498743710662 + 1560.00
cost
Developer
0.009604 - 0.1545
profit

Summary of Probabilistic Analysis

Variables Expected value ã Variance Standard deviation
Construction
1560.00 9900.00 ± 105
cost (RM)
 Developer
0.1545 0.00009224 ±0.009604
profit
Original site
value (RM)
Best bid site
value
Saving 20588
 (â-ã)^2 Probability p p(â-ã)2
44100.00 0.10 4410.00
3600.00 0.40 1440.00
8100.00 0.50 4050.00
9900.00

(â-ã)^2 Probability p p(â-ã)2

0.0003802 0.10 0.00003802
0.0000202 0.50 0.00001012
0.0001103 0.40 0.00004410
0.00009224

Certainty Equivalents
1659.50

0.145

Original value Certainty Equivalents

1500.00 1659.50
0.150 0.145

55,927,822.00

55,907,234.00
3.68%