Five sites are to be launched which is expected to yield over 3,000 homes. To provide home-buyers and developers with greater choice for private housing, the Urban Redevelopment Authority and Housing and Development board has started this project under 2H2013 Government Land Sales Programme.
Five sites in the city to be launching soon
The first is the residential site at Geylang East Ave 1. It is up for sale through the Reserve List System as the developer committed to bid more than $95 million for the land parcel in tender. It is up for sale today. The site is about 67,146 sq feet in area and has GFA of 188,013 sq feet. Compared to the other sites it is the smallest. It is located opposite to the Geyland East Public Library. It is also expected to yield 215 units. Compared to the location at Sims drive this site is expected to attract many buyers.
The site at Yishun Avenue 9 is about 221,239 sq feet, which is also for sale today. It has the GFA of 619,473 sq feet. It is expected to yield 685 units. The site is very interesting for the buyers, as its south-eastern flank is surrounded by a canal. Buyers who choose to opt for the south facing homes can enjoy the beautiful water view. The North Point and the North View Bizhub is situated next to this residential area.
Launching sites soon to be announced
The two Executive Condominium (EC) sites located at Chao Chu Kang Grove are also included in this project. It measures about 177,120 sq feet each. It has maximum GFA of 619,920 sq feet. The two sites are predicted to yield 575 units each, having plot ratio of 3.5. Ku Swee Yong the CEO of Century 21 Singapore has said HDB up-graders to ECs may feel uncomfortable from COVs coming down. Meaning, by the time they purchase the homes at ECs, they might sell their few room HDB at a very low price than today, expecting to buy ECs at a more convenient price.
The last is the land parcel at Sims Drive. The site will be officially launched on 30th December. It is about 257,257 sq feet, having GFA of 771,772 sq feet. It is expected to yield 900 units. It is expected, that the top bid will be between $580 and $630, per sq feet.
The closing dates for tenders are as follows.
Geylang East Ave 1 23/01/2014
Chao Chu Kang Grove (A) 25/02/2014
Chao Chu Kang Grove (B) 25/02/2014
Yishun Avenue 9 11/03/2014
Sims Drive 29/04/2014