Two private residential sites in Bukit Timah Link and Hillview Rise for sale
Two private residential sites in Bukit Timah Link and Hillview Rise for sale. Two 99-year leasehold government land sites in Bukit Timah and Hillview, where new private home supply is limited due to high demand from owner occupiers and Housing Board upgraders, have been put up for public tender.
Because of their acceptable size and solid take-up of launches in these submarkets – Piccadilly Grand, [email protected], and AMO Residence – developers’ interest in these locations on the city outskirts and suburbs is projected to be healthy. The Urban Redevelopment Authority stated on Wednesday that the two properties, which can yield a total of 495 dwellings, are on the confirmed list of the Government Land Sales (GLS) Programme for the second half of this year.
The Bukit Timah Link site, located near to Beauty World MRT station, measures 4,611.1 sq m and can generate 160 apartments, while the Hillview Rise site spans 10,395.2 sq m and can provide 335 units. According to JLL senior director of research and consultancy Ong Teck Hui, the two land parcels should be in high demand from developers looking to replenish their land banks due to a lack of unsold new housing stock. “There are also few residential sites available under the GLS programme’s confirmed list, and securing collective sale sites is difficult due to a mismatch in pricing expectations between sellers and purchasers,” he noted.
Bukit Timah Link is close to shopping malls including Beauty World Centre, Beauty World Plaza, and Bukit Timah Shopping Centre, as well as reputable institutions like Pei Hwa Presbyterian Primary School and Methodist Girls’ School. The Hillview Rise site is close to the Rail Mall, Dairy Farm Nature Park, and Bukit Timah Nature Reserve and is within walking distance of the Hillview MRT station.
The bidding for both sites will close on November 3 at noon.
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