Two residential sites that could generate about 980 homes were launched for sale yesterday by the Housing & Development Board (HDB) and Urban Redevelopment Authority (URA).
HDB released an executive condominium (EC) site at Westwood Avenue under the confirmed list, while a land parcel in Lorong Lew Lian (pictured) was made available under the reserve list by the URA. Both sites have a lease of 99 years.
Measuring 17,284.8 sq m, the EC site has a maximum gross floor area (GFA) of 48,397.44 sq m and plot ratio of 2.8. It is within proximity to the PIE and amenities such as Pioneer Mall, Gek Poh Shopping Centre, the Jurong West Stadium and Public Library.
Alice Tan, Head of Research at Knight Frank Singapore, said: “This site is about 1.5 km from the nearest MRT station, Pioneer, which is one stop away from Jurong Point (Boon Lay MRT station), and four stops away from the Jurong East interchange, the heart of the growing Jurong Regional Centre.”
It is expected to receive healthy interest, with six to 10 possible bidders and a winning offer in the range of S$330 to S$360 psf ppr, she added. But the site’s location is considered less appealing than the other four EC sites on the 2H2013 GLS confirmed list, which are closer to MRT stations.
Meanwhile, the 14,006.3 sq m site at Lorong Lew Lian has a maximum GFA of 42,019 sq m. It is easily accessible via the CTE as well as the Bartley and Serangoon MRT stations. Nearby amenities include Heartland Mall, NEX Shopping Mall, Serangoon Town Centre, as well as the Serangoon Sports Stadium and Swimming Complex.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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