Thursday, June 07, 2012

HDB awards tender for Sengkang site

The Housing and Development Board (HDB) has awarded the tender for a land parcel (pictured) at Sengkang Square / Compassvale Drive to EL Development after it offered the top bid of S$383.3 million in a public tender that closed on 31 May 2012.

Launched for sale on 16 April 2012, the 99-year leasehold site is proposed for condominium development or a combination of flats and strata landed houses and could possibly yield up to 710 units. It has a total land area of around 22,497.6 sq m with a maximum permissible gross floor area (GFA) of 67,492.8 sq m and a gross plot ratio of 3.0.

Joseph Tan, Executive Director for Residential at CBRE, said “the subject site is adjacent to The Luxurie private condominium which is currently under construction”. He noted that “units in this 622-unit development are currently being marketed at around S$1,040 psf on average”.

At the same time, Chia Siew Chuin, Director of Research & Advisory at Colliers International, said the “locational attributes for the site is good”, as it is located within walking distance to Sengkang MRT station while being in close proximity to several existing and upcoming commercial establishments, including Compass Point and the upcoming Waterpoint at Punggol.

View the original article here

Source From Property Guru

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