URA launches Tampines residential site for sale by public tender

URA launches Tampines residential site for sale by public tender

 

SINGAPORE: The Urban Redevelopment Authority has launched a residential site at Tampines Avenue 1/Avenue 10 for sale by public tender.

 

The land parcel is one of four new residential sites to be offered for sale as a confirmed site under the Government Land Sales Programme for the first half of this year.

 

The 99-year leasehold site spans about 3.2 hectares.

 

It will have a maximum permissible gross floor area of 66,655 square metres.

 

The land also fronts the Bedok Reservoir, offering a panoramic view of the lake.

 

Consultants CB Richard Ellis expects units in the new development to sell for around $700 per square foot.

 

This will translate to a possible land price of around $200-$230 per square foot per plot ratio for the site.

 

The tender will close at noon on 12 August. – CNA/ir

 

Source: Straits Times

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