Sunday, November 18, 2012

URA and HDB to release 4 sites for sale


SINGAPORE : The Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) announced on Thursday they are releasing four sites for sale in November.

According to the statement, the sites are estimated to yield 2,045 residential units.

Two land parcels at Jurong West Street 41 (Parcel A) and Ang Mo Kio Avenue 2 are launched for sale today under the Confirmed List.

Meanwhile, a second site at Jurong West 41 (Parcel B ) is also made available on Thursday for application on the Reserve List.

The mixed commercial and residential site at Yishun Ring Road is expected to yield 160 housing units and will be launched for sale via public tender on 27 November.

Analysts say the land parcel at Ang Mo Kio Avenue 2 is estimated to yield about 680 housing units.

Located near the future Mayflower MRT Station, the site is located near several schools.

Nicholas Mak, Executive Director at SLP International Property Consultants, said "Due to the limited supply of new condominium projects in this area, this land parcel is expected to attract strong interest from developers. It is estimated to be fetch top bids from $390 million ($560 per square foot (psf) per plot ratio (ppr)) to $425 million ($611 psf ppr), with 8 to 15 bidders in this tender."

The two land parcels at Jurong West Street 41 are located near Lakeside MRT station and directly face Jurong Lake.

The two sites are also within walking distance from schools such as the Canadian International School and Rulang Primary School.

The first site (Parcel A) on the Confirmed List is expected to house 660 units, while the second site on the Reserve List will see an estimated 545 private home units built.

Analysts noted that the two sites will attract strong interest from developers to their strategic locations and the potential development of that area.

Nicholas Mak added, "The purchase price for parcel B is expected to be higher than the price of parcel A, with estimated price range from $307 million ($550 psf ppr) to $329 million ($590 psf ppr). This is due to the slightly more attractive attributes of this land parcel and a later launch date of the project."

The tender for the sites at Ang Mo Kio Avenue 2, Jurong West Street 41 (Parcel A) and Yishun Ring Road will close at 12 noon on 8 January, 15 January and 24 January 2013 respectively.


Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
Email: marshe_inc@yahoo.com.sg
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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