The Housing Development Board (HDB) has announced that the land parcel at the junction of Punggol Central and Punggol Walk has been awarded to Emerald Star Ltd and FC Retail Trustee Ltd, after offering the highest bid of S$1,021 million in a public tender that closed on 15 February.
Zoned for commercial-cum-residential development, the site has a total area of 29,999.3 sq m, with a maximum permissible Gross Floor Area (GFA) of 125,997.06 sq m and a gross plot ratio of 4.2. HDB said the site can yield up to 685 housing units and 50,400 sq m of gross commercial space.
The site was made available for sale on 30 November, under the confirmed list of the 2H2010 GLS programme. It will play a significant role in making Punggol Town Centre a vibrant centre of activity for Punngol residents, marking an important milestone in realizing the Punggol 21 Plus vision announced by the government in 2007.