Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale

by Albert02

Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale

Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale. The Urban Redevelopment Authority (URA) announced on Friday the sale of three 99-year leasehold residential plots in Bukit Panjang, including one for an executive condominium (EC), under the Government Land Sales (GLS) programme for the second half of 2022.

Clementi Avenue 1, Jalan Tembusu near Tanjong Katong MRT station, and Senja Close in Bukit Panjang are on the reserve list and will be put up for bidding only if a developer indicates a minimum price that the Government accepts. The properties have the potential to generate approximately 1,625 residential units.

Despite the fact that it has been a decade since the last EC site in Bukit Panjang was sold – Blossom Residences, which obtained its temporary occupation permit in 2014 – ERA Realty Network research head Nicholas Mak believes there is likely pent-up demand for ECs. The Senja Close property has a total area of 10,159.2 square meters and can house 300 people. If the tender is successful, the top bid for the Senja Close EC site near Jelapang LRT station could range between $600 and $650 per sq ft per plot ratio, according to Mr Lee Sze Teck, senior director of research at Huttons Asia.

The land on Jalan Tembusu has 20,572.1 sq m in size and can accommodate 825 residential units. Clementi Avenue 1 is a 13,451.1 sq m property that can house 500 units. According to Mr Mak, the Jalan Tembusu site would be bordered by projected residential launches on previously awarded GLS plots and sold en bloc sites. Mr Lee predicted that the two private residential sites would each attract three to five bidders, with the highest bid expected to be between $1,300 and $1,400 psf ppr for the Jalan Tembusu property in District 15 – a popular neighborhood. The highest bid for the Clementi Avenue 1 location could range from $1,000 to $1,100 per square foot per year.

Click the image to read the full details of report.
Source:
https://www.straitstimes.com/business/clementi-avenue-1-jalan-tembusu-residential-sites-senja-close-ec-site-launched-for-sale


 
Discover Your Home Here
Come & Experience It Yourselves
Connect With Us


Cape Royale
Book ShowFlat Appointment

Proudly Developed by :
Pinnacle (Sentosa) Ptd Ltd
(Ho Bee Land Limited
)

You may also like

error: Content is protected !!