The Urban Redevelopment Authority (URA) today released the detailed sales

conditions for the reserve list site at Hougang Avenue 2 for residential development.

Developers interested in purchasing the site can now apply to URA for it to be put up

for tender.

Under the Government’s reserve list system, a site on the reserve list would only

be put up for tender if a developer’s indicated minimum bid price in his application is

acceptable to the Government.

Located within an established private residential estate, and adjacent to Hougang

HDB Town, the land parcel has a site area of about 3.02 ha and can be developed for

a low density condominium, flats or landed housing development.

This land parcel is the first new site to be released for sale under the reserve list of the Government Land Sales (GLS) Programme for the first half of 2010 (1H2010). It will add to the variety of residential sites on the reserve list for developers to choose from to meet the demand for private housing. A residential site at Sengkang West Avenue/Fernvale Link was also successfully triggered and sold from the Reserve List earlier this year.

Over the next three months until May 2010, five new residential sites will be made

available on the reserve list, with at least one new residential site for sale every

month on the 1H2010 reserve list.

Altogether, a total of 18 residential sites, including three Executive Condominium sites and two mixed-use sites where private residential units can potentially be built, will be available on the reserve list in first half 2010. This will translate into a potential supply of 7,625 residential units.

In addition, the government will progressively release eight residential sites for sale via

the confirmed list of the 1H2010 GLS Programme. These sites can potentially yield about 2,925 residential units, close to the highest potential supply of about 3,000 units from the GLS confirmed list since the reserve list/confirmed list system started in the second half of 2001.

The total supply quantum of 10,550 units from the confirmed list and reserve list for

the 1H2010 GLS Programme is the highest in the history of the GLS Programme.