Government releases two residential and five industrial sites for sale

Two residential sites able to yield 980 homes were released by the Government on Thursday.

One of the sites at Westwood Avenue is on the confirmed list, while the other at Lorong Lew Lian is on the reserve list.

The 186,051 sq ft plot at Westwood Avenue is an executive condomium (EC) site. It is expected to draw keen interest from developers on the back of strong demand for ECs, analysts said.

Despite its surburban location, R'ST Reseach director Ong Kah Seng said the plot can benefit from the makeover of the Lakeside area.

It is expected to draw a top bid of $285 to $313 per square foot per plot ratio - much lower than the top bid of $418psf ppr for a Yuan Ching Road EC site in August.

However, experts do not expect the 150,762 sq ft Lorong Lew Lian site to be triggered in the next six months.

"This is due to the cautious private residential buyers' sentiments prevailing in the aftermath of the TDSR," said Mr Ong.

Separately, the Jurong Town Corporation put up five sites at Tuas South and Gambas Crescent for sale, under the second half of the 2013 Industrial Government Land Sales Programme.

In Tuas South, three sites are on the confirmed list and can be used for heavier industries. Over in Gambas Crescent, one site is on the confirmed list while the other is on the reserve list. Both can only be used by light and clean industries.