SINGAPORE - The Urban Redevelopment Authority (URA) released on Friday (June 30) two prime sites for sale that can potentially yield about 970 private homes.
The residential site at Fourth Avenue and another residential-cum-commercial parcel at Jiak Kim Street were released under the first-half 2017 Government Land Sales (GLS) programme and are available for application under the Reserve List. This means developers can trigger the tender of these sites if they indicate interest with bid commitments acceptable to URA.
The release of these two reserve sites comes a day after the Government announced it was raising the supply of land for private housing confirmed for sale in the second half of 2017 - due to stronger buyer demand and declining unsold stock. Analysts told the Straits Times the modest uptick in supply may not be enough to satisfy developers who have been aggressively bidding for sites recently.
The 18,532 square metre parcel at Fourth Avenue lies along prestigious Bukit Timah Road and is right next to Sixth Avenue MRT Station and two Good Class Bungalow estates. With a maximum gross floor area (GFA) of 33,358 sqm, the parcel can yield 445 units.
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The 13,482 sqm site at Jiak Kim Street, which is near the city and along the Singapore River, includes three conserved warehouses that were constructed around 1919. The site, whiich can be developed up to 36 storeys with commercial use on the first storey, can accommodate 525 residential units.