Tag Archives: The Hillier

Hillview residential site up for sale by tender

A freehold residential site at 1 Jalan Remaja, off Hillview Avenue, has been put for sale by tender.

The site, which is located on elevated ground, has a land area of over 43,500 square feet.

According to its marketing agent DTZ Debenham Tie Leung, the site can be developed into a 10-storey condominium with a maximum gross floor area (GFA) of about 83,600 square feet.

It added that the new development can accommodate about 110 units, if the average apartment size is about 70 square metres.

DTZ’s head of investment advisory services and auction, Shaun Poh, said in a statement that “the regular configuration of the site allows the developer to maximise building efficiency and provides design flexibility for a boutique residential development”.

The estimated development charge to develop the site for residential use would be approximately S$14.9 million.

As an indication of the potential value of new units on the site, DTZ pointed to recent projects in the area such as Natura@Hillview and The Hillier which have been sold at prices up to S$1,750 per square foot.

The tender will close on July 23 at 3pm.

Source – CNA 26 Jun 2013


Far East acheive record home sales in first 5 months

Property developer Far East Organization sold 2,200 new homes in Singapore during the first five months of the year.

This includes suburban projects such as The Hillier in the northwest and Watertown in the northeast.

According to a media report, projects by Far East helped lead the rebound in home sales this year, with Watertown in Punggol accounting for over 50 percent of the 1,872 units sold in January. URA (Urban Redevelopment Authority) data also showed that April home sales climbed to a near three-year high of 2,487 units, boosted by developments like Hillsta (pictured), also by Far East.

Nicholas Mak, Executive Director at SLP International Property Consultants, said that property developers will continue to develop projects in the outskirts to cater to demand from local buyers.

“Due to their purchasing power, local residents will find suburban properties more affordable.”

He said that the government will likely introduce more cooling measures following the surge in home sales, adding that it is difficult to predict what could trigger another round of curbs.

Source : PropertyGuru – 6 Jun 2012