The Urban Redevelopment Authority (URA) has just released a land site in Clementi last week. On the confirmed list, the 99-year leasehold site is zoned for residential use.
Land site in Clementi Ave 1 primed for 640 new homes
The 16,542.7 sq m site is situated in a good spot, between Nan Hua High School and the Clementi Stadium and Swimming Complex. Also, just a short walk away is the Clementi Mall and Clementi MRT station.
With a 60-month timeline for project completion, the site could potentially yield 640 new units within 3 years should it be successfully picked up by a developer. The public tender closes on July 3.
The maximum building height is capped at 140 metres and the site can be developed to condominiums, flats or a combination of that and strata landed homes. There is a caveat, however, and the developer who wins the bid will have to commit to building a childcare centre with a minimum of 700 sq m within the site. The gross permissible floor area (GFA) of the site is 57,900 sq m.
A mixture of apartments and strata landed homes permissible for site
The mature estate of Clementi is popular with young families who may be looking to live near their parents. There are a number of schools nearby including the NUS High School of Math and Science and the International Community School.
The accessibility of the township to the National University of Singapore could also mean higher rental yields. The Ayer Rayer Expressway way is only a few minutes’ drive away. Private condominiums in the vicinity include Clement Canopy.