Monday, July 23, 2012

URA, HDB launch two residential sites for sale by public tender

SINGAPORE: The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) have launched two residential sites for sale by public tender.

This is to provide developers and home buyers with more choices for private housing.

The two plots are at Dairy Farm Road, which is to be used for condominium housing, and at Punggol Way / Punggol Walk, which has been slated for executive condominium development.

Together, these sites will yield about 950 units, which will form part of the 7,060 residential units to be launched for sale under the Confirmed List of the second half (H2 2012) Government Land Sales (GLS) programme.

The 99-year leasehold site at Dairy Farm Road has an area of 17,545.8 square metres, with a maximum gross floor area of 36,847 square metres.

Lee Sze Teck, senior manager of research and consultancy at Dennis Wee Group said there could be strong interest in the site at Dairy Farm Road, with possibly up to 10 bidders participating in the tender.

Mr Lee said the estimated top bid could be between S$500 and S$550 per square foot per plot ratio (psf ppr) and the estimated selling price could be at least S$1,100 to S$1,200 per square foot (psf).

Meanwhile, the Punngol Way / Punggol Walk site has a land area of 18,747.8 square metres with a maximum gross floor area of 56,243.4 square metres.

DWG expects the Punngol site to attract up to eight bidders with the estimated top bid between S$350 and S$400 psf ppr and a selling price of S$900 to S$950 psf.

Tender for the Dairy Farm Road site will close at noon on September 11.

Tender for the Punggol Way / Punggol Walk plot will close at the same time on September 4.

View the original article here

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