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

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SINGAPORE – Three 99-year leasehold residential sites, including one for an executive condominium (EC) in Bukit Panjang, have come up for sale under the Government Land Sales (GLS) programme for the second half of 2022, the Urban Redevelopment Authority (URA) announced on Friday.

All three sites in Clementi Avenue 1, Jalan Tembusu near Tanjong Katong MRT station and Senja Close in Bukit Panjang are on the reserve list and will be put up for tender only when a developer has indicated a minimum price which is accepted by the Government. The sites can yield about 1,625 residential units.

ERA Realty Network research head Nicholas Mak noted that there is likely pent-up demand for ECs as a decade has passed since the last EC site in Bukit Panjang – Blossom Residences, which obtained its temporary occupation permit in 2014 – was sold.

The Senja Close site spans an area of 10,159.2 sq m and can yield 300 housing units.

Mr Lee Sze Teck, senior director of research at Huttons Asia, noted that if successfully triggered, the top bid for the Senja Close EC site, near Jelapang LRT station, may be between $600 and $650 per sq ft per plot ratio (psf ppr).

The Jalan Tembusu site has an area of 20,572.1 sq m and can house 825 residential units. The Clementi Avenue 1 plot, with an area of 13,451.1 sq m, can make room for 500 units.

Mr Mak said the Jalan Tembusu site is surrounded by upcoming residential launches on previously-awarded GLS and en bloc sites.

Mr Lee said the two private residential sites could each garner between 3 and 5 bidders, with the top bid for the Jalan Tembusu site in District 15, a popular area, at between $1,300 and $1,400 psf ppr. The highest bid for the Clementi Avenue 1 location may be between $1,000 and $1,100 psf ppr.

“The Clementi Avenue 1 site is in a mature estate and near good schools like Nan Hua Primary ...

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