The Urban Redevelopment Authority (URA) has launched a residential site located at Tampines Avenue 1/Avenue 10 for sale through public tender.
Under the confirmed list of the Government Land Sales (GLS) Programme, the parcel of land is the fourth residential site to be launched for sale in H1 2010.
The 3.2-hectare site will have a maximum permissible gross area of over 66,000 sq m. It is expected to yield around 600 housing units.
The government will continue to launch residential sites for sale from the confirmed list every month, over the next three months until April. This is in line with the announced GLS Programme for H1 2010.
According to the government, it will monitor the real estate market closely.
To ensure that prices of properties are in line with the fundamentals of the economy, more land supply can be injected through the GLS Programme for H2 2010.