SINGAPORE - The Urban Redevelopment Authority (URA) has released two residential sites at Canberra Crescent and De Souza Avenue for tender.
The land plots are confirmed list sites that fall under the government land sales programme (GLS) for the first half of 2024, URA announced on April 16.
The Canberra Crescent has a site area of 20,437.3 sq m and a maximum gross floor area (GFA) of 32,700 sq m. URA estimates the plot could yield around 375 units.
Meanwhile, the De Souza Avenue plot spans 19,245.4 sq m in site area, with a maximum GFA of 30,793 sq m, potentially yielding around 355 units.
Together, the sites could yield around 730 residential units.
Huttons senior director of data analytics Lee Sze Teck expects the De Souza Avenue site to attract between one and three bidders. He estimates the top bid will fall between $1,200 and $1,300 per square foot per plot ratio (psf ppr), which translates to a bid between $397.74 million and $430.88 million.
As for the Canberra Crescent site, Mr Lee believes the plot will attract up to three bidders with a top bid ranging from $900 to $1,000 psf ppr. This translates to a bid price between $316.78 million and $351.98 million.
The tender comes amid plans by the Singapore Government to make 5,450 residential units available via the confirmed list of the H1 2024 GLS programme. This is the highest supply of confirmed list units since the second-half 2013 GLS programme.
The tenders for both sites will close at 12 pm on July 18. THE BUSINESS TIMES
