Daily Archives: 27 Oct 2009

Landed housing site on reserve list set for sale

Posted on 27 Oct 2009 | Comments Off on Landed housing site on reserve list set for sale

Demand for residential land has spread from the non-landed to the landed sector. For the first time this year, a developer has triggered for sale a government landed housing site, and consultants are expecting to see some competition for the plot.

The 99-year leasehold parcel on Westwood Avenue, Jurong West, is on the government reserve list and has a site area of 14,098.9 square metre. The plot is surrounded by other landed estates such as Westwood Park, The Floravale condominium, and is near the Pan-Island Expressway.

An unnamed developer has committed to bid at least $15 million or $99 per square foot of land area for the site. HDB will launch the tender for the plot in about two weeks. Property consultants expect to see at least five bids for the site.

DTZ head of South-east Asia research Chua Chor Hoon reckons that there would be around 10 bids. ‘There are not many landed homes in the west, and there is demand not just from HDB upgraders, but also from those working nearby in Nanyang Technological University and the industrial estates,’ she says. Continue reading →

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Hong Leong site’s design, concept to be cutting edge

Posted on 27 Oct 2009 | Comments Off on Hong Leong site’s design, concept to be cutting edge

Serangoon project’s units sized according to buyers’ needs

Hong Leong Holdings, which recently won a site along Serangoon Avenue 3 in a hotly contested government tender, says that it will build a one-of-a-kind project on the site with more than 400 units.

The developer is now finalising the project but says that it will be ‘cutting edge’ in design and concept. It will also feature units sized according to the needs of buyers, said Hong Leong Holdings executive Quek Kon Hui.

Hong Leong won the 99-year leasehold site this month in a tender by the Urban Redevelopment Authority. It put in the top bid of $221 million or $529 per sq ft of gross floor area.

Addressing concerns over ’shoebox’ units, Mr Quek said that Hong Leong will give value without compromising on functional living space.

The project is expected to be launched the first half of next year.

Separately, sales at the 175-unit Lincoln Suites in Khiang Guan Avenue, which was soft-launched last week, have been brisk, the companies developing the project said yesterday. Continue reading →

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Posted in Developers, Overseas Property

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