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. Three residential sites have been made available for purchase through the Government Land Sales (GLS) Program.

The Jalan Tembusu site, launched by the Urban Redevelopment Authority (URA), 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. Based on a maximum height of 80 to 85 meters, it could produce approximately 825 units.

The URA also issued the Clementi Avenue 1 site, which measures 13,451.1 sq m with a GFA of 47,079 sq m and a maximum building height of 140 m. The land is planned to yield 500 apartments, with a cap of 501 units in place to handle traffic demand in the neighborhood.

The third HDB-provided site at Senja Close is an EC site. It is the smallest site in this launch, with a total area of 10,159.2 square meters and a gross floor area of 30,478 square meters. The property might provide 300 apartments with a maximum building height of 150 to 153 m.

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

Meanwhile, Nicholas Mak of ERA noted a “dearth of new mass-market condominium projects” in the Clementi district, with developments in the vicinity either nearly or completely sold out. He believes the Clementi Avenue 1 site will be triggered for sale, with a high bid of between S$1,050 and S$1,120 psf ppr, whilst Lee anticipates a top bid of between S$1,000 and S$1,100 psf ppr. Lee stated on the Senja Close site that 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 a top bid of S$600 to S$650 psf ppr from three to five bidders.

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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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