The two 99-year leasehold residential sites at Kim Tian Road and Sengkang West Way were released yesterday by the Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) under the Confirmed List of the GLS programme for the first half of the year. They could yield about 1,100 homes.
The land parcel at Kim Tian Road, put up for sale by URA, has a maximum gross floor area (GFA) of about 473,000 sq ft and could yield 500 units.
This site should see strong interest due to its prime location near Tiong Bahru MRT station, which has a maximum gross plot ratio (GPR) of 4.0.
The top bid could be around $870 per sq ft per plot ratio (psf ppr) to $920 psf ppr, for an absolute sum of $411 million to $435 million.
The Sengkang West Way site released by HDB has a maximum GFA of about 536,000 sq ft, and can yield about 555 homes. The land parcel lies along Sungei Punggol and is near Layar and Fernvale LRT stations.
The tender for the Kim Tian Road plot will close on April 18, while that for the Sengkang West Way plot will close on April 11.
Source: Business Times –1 March 2013
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