The Urban Redevelopment Authority (URA) and Housing Development Board (HDB) have launched tenders for three government land sales sites, attracting attention from developers despite current market uncertainties. The sites, located at Dunearn Road, Lakeside Drive, and Woodlands Drive 17, are strategically positioned near MRT stations, making them appealing for future residential developments.
The Dunearn Road site, part of the new Bukit Timah Turf City housing precinct, is expected to yield 380 new units. Wong Siew Ying, Head of Research and Content at PropNex, noted that developers might be keen to establish a presence in this emerging neighbourhood. The site is conveniently located near the Sixth Avenue MRT station and several prestigious schools. The tender is projected to attract 5 to 6 bids, with top offers ranging from $1,400 to $1,500 per square foot per plot ratio (psf ppr).
Lakeside Drive’s site, adjacent to the Lakeside MRT station, could yield 575 units and 1,000 square metres of commercial space. Its proximity to the Jurong Lake District and a lack of recent project launches in the area are expected to draw 3 to 4 bids, with top bids estimated at $1,100 to $1,200 psf ppr.
The executive condominium (EC) site at Woodlands Drive 17 is set to offer 420 units. Located near the Woodlands South MRT station and future developments like the Johor Bahru-Singapore Rapid Transit System, it is anticipated to attract interest from HDB upgraders. The tender could see 4 to 5 bids, with top bids between $700 and $715 psf ppr.
These site tenders present significant opportunities for developers to expand their portfolios amidst a competitive market landscape.
“`
