Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale

by Albert02

Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale

Clementi Avenue 1 Jalan Tembusu residential sites Senja Close EC site launched for sale. The Urban Redevelopment Authority (URA) announced on Friday the sale of three 99-year leasehold residential plots in Bukit Panjang, one of which will be developed into an executive condominium (EC), as part of the Government Land Sales (GLS) programme for the second half of 2022.

Clementi Avenue 1, Jalan Tembusu near Tanjong Katong MRT station, and Senja Close in Bukit Panjang are on the reserve list and will be placed up for bidding only if a developer specifies a minimum price that the Government will accept. The properties have the capacity to produce 1,625 residential units.

Despite the fact that the last EC site in Bukit Panjang was sold a decade ago – Blossom Residences, which obtained its temporary occupation permit in 2014 – ERA Realty Network research head Nicholas Mak believes there is likely pent-up demand for ECs. The Senja Close property spans 10,159.2 square meters and can accommodate 300 guests. According to Mr Lee Sze Teck, senior director of research at Huttons Asia, if the tender is successful, the top bid for the Senja Close EC site near Jelapang LRT station could range between $600 and $650 per sq ft per plot ratio.

The site on Jalan Tembusu is 20,572.1 square meters in size and can house 825 residential units. Clementi Avenue 1 is a 13,451.1 square meter complex with 500 units. The Jalan Tembusu site, according to Mr Mak, would be surrounded by planned residential launches on previously awarded GLS plots and sold en bloc sites. Mr Lee predicted that the two private residential sites would each attract three to five bidders, with the highest bid for the Jalan Tembusu property in District 15 – a popular neighborhood – expected to be between $1,300 and $1,400 psf ppr. The highest annual bid for the Clementi Avenue 1 location could be $1,000 to $1,100 per square foot.

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Source: 
https://www.straitstimes.com/business/clementi-avenue-1-jalan-tembusu-residential-sites-senja-close-ec-site-launched-for-sale


 
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