Tanjong Katong Clementi housing sites Bt Panjang EC plot up for sale

by Albert02

Tanjong Katong Clementi housing sites Bt Panjang EC plot up for sale

Tanjong Katong Clementi housing sites Bt Panjang EC plot up for sale. The Government Land Sales (GLS) Program has made three home sites available for purchase.

The Urban Redevelopment Authority’s (URA) Jalan Tembusu site is the largest of the three, with an area of 20,572.1 square metres (sq m) and a potential gross floor area (GFA) of 72,003 sq m. It could produce approximately 825 units at a maximum height of 80 to 85 meters.

The URA also issued the Clementi Avenue 1 site, which measures 13,451.1 sq m, has a GFA of 47,079 sq m, and can be built on up to 140 m. The land is intended to yield 500 apartments, with a cap of 501 units in place to accommodate the neighborhood’s traffic demand.

Senja Close’s third HDB-provided site is an EC site. With a total area of 10,159.2 square meters and a gross floor space of 30,478 square meters, it is the smallest site in this launch. The land might include 300 apartments with a maximum construction height of 150 to 153 meters.

All three sites are on the 2H2022 GLS reserve list and will be made available for sale only if a developer submits an acceptable tender offer. Lee Sze Teck of Huttons Asia described the Jalan Tembusu location as “popular,” citing its proximity to the Tanjong Katong MRT station. He did, however, mention that the area has “ample supply” due to developments such as Jalan Tembusu Residences and The Continuum.

Meanwhile, ERA’s Nicholas Mak highlighted a “dearth of new mass-market condominium complexes” in the Clementi district, with nearby properties largely or totally sold out. He believes the Clementi Avenue 1 site will be sold with a high bid of between S$1,050 and S$1,120 psf ppr, while Lee anticipates a top bid of between S$1,000 and S$1,100 psf ppr. According to Lee, this is the first EC site launch in the Bukit Panjang district in more than a decade. “There could be pent-up demand for ECs,” he said, estimating that the site could receive three to five bids of S$600 to S$650 psf ppr.

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Source:
https://www.businesstimes.com.sg/property/tanjong-katong-clementi-housing-sites-bt-panjang-ec-plot-sale



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