The Urban Redevelopment Authority (URA) has released three 99-year leasehold plots for tender under this year’s first half of the Government Land Sales programme.
3 plots for tender could yield 1,545 residential units
These 3 plots could potentially yield 1,545 residential units and are situated in ideal spots. The first is a 5,778.7 sq m site at One-North Gateway with a maximum gross floor area (GFA) of 14,447 sq m.
This site is part of the Jurong Town Corporation’s (JTC) plan to inject more residential spaces into the One-North estate.
It is zoned for residential use with the first floor allocated for commercial use and will be a welcoming inclusion into the area. It will help to meet housing needs for the estate’s workforce as well as enhance the development of the area as a mixed-use business park.
The site could yield 165 residential units and analysts are expecting 6 to 10 bids for the site.
See more: Current and upcoming property trends
The second site at Hillview Rise measures at 10,359.2 sq m and could potentially yield 340 new homes. The maximum GFA is 29, 107 sq m and has a height limit of 120m.
The site is on the reserve list and is situated near the Hillview MRT station and schools such as the German European School.
Dunman road site near MRT station and schools
The third site is a rather large 25, 234.7 sq m site at Dunman road which could potentially yield 1,040 residential units.
The site is located near the Dakota MRT station and also Chung Cheng High School (Main). It also boasts unblocked views of the East Coast area and is situated near the Tanjong Katong and Joo Chiat heritage districts which are popular with expatriates and young professionals.
Analysts consider all 3 plots attractive though the size of the largest one at Dunman road may be of concern to developers who are hoping to reduce their existing inventory before acquiring more land.