Developers are back in launch mode after the Lunar New Year holiday, with two new projects in Fernvale slated to go on sale likely within weeks of each other.

The first to make its move is the 555-unit Riverbank @ Fernvale by UOL Development, which will launch on Feb 14.

That is likely to be followed by Rivertrees Residences, which is expected to launch soon after.

The 99-year leasehold Riverbank @ Fernvale is at Sengkang West Way, overlooking the Punggol River. It is next to the Lush Acres executive condominium project, which is under construction.

Its average price will be slightly over $1,000 per sq ft (psf), said Mr Liam Wee Sin, president of UOL's property division, at a media briefing at the showflat on Wednesday.

Prices begin from $480,000 for a 495 sq ft one-bedder to at least $1.3 million for a 1,389 sq ft five-bedder.

The project will have four 19-storey condominium blocks. It is near the Layar LRT station and the future The Seletar Mall. It is expected to be completed in 2018.

Riverbank @ Fernvale and Rivertrees Residences are next to each other.

CBRE research head Desmond Sim said there would "definitely be increased competition, but buyers will benefit because they will have a bigger selection".

Price details and the launch date for Rivertrees Residences are not out yet.