The Housing & Development Board (HDB) has launched a public tender for an executive condominium (EC) housing site located at the junction of Punggol Way and Punggol Field.
The site, which was launched under the confirmed list of the 1H2011 Government Land Sales (GLS) programme, has a total area of 25,164.2 sq m and a maximum permissible gross floor area (GFA) of 75,492.6 sq m, with a gross plot ratio of 3.0. HDB said the 99-year leasehold site could yield up to 720 EC housing units.
The land parcel is located within Punggol Town in the north-eastern part of Singapore. HDB’s 4.2 km My Waterway @ Punggol, as well as the upcoming mall at the Town Centre, will provide residents with shopping, dining, recreational and leisure amenities.
”The site at Punggol Field / Punggol Way is about 20 minutes’ walk from the Punggol MRT station and bus interchange. This location is close to the Punggol town centre where more public flats, private housing, facilities and amenities will be developed in the coming years,” said Li Hiaw Ho, Executive Director at CBRE Research.
Mr. Li added that the subject site will likely fetch bids of “between S$227 million and S$244 million (S$280 psf ppr to S$300 psf ppr), with a view to sell the new units at around S$700 psf.”
He noted that units in Prive EC, which is also located within Punggol Field, were transacted at between S$660 psf and S$715 psf in the January – April 2011 period.
“To date, the 680-unit Prive is over 95 percent sold and there is another 505-unit EC project at Punggol Drive / Punggol East that is not launched yet,” he said.
Meanwhile, HDB said that the government has placed 17 sites on the confirmed list and 13 sites on the reserve list under the 1H2011 GLS programme, in response to the strong demand for private housing.
“Together, these 30 sites, which include four EC sites and two commercial and residential sites, can potentially yield 14,310 private residential units,” it said.
It added that the tender for the Punggol EC site will close on 7 July 2011.
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