URA launches two residential sites for sale by public tender

SINGAPORE - Two private residential sites, where 1,160 homes can potentially be built, were launched for sale by public tender on Thursday (April 20).

The Urban Redevelopment Authority (URA) said one site - for conventional landed or strata landed housing - is in Lorong 1 Realty Park, while the other in Stirling Road was also launched after being earlier triggered for sale.

Analysts expect the bidding for both 99-year leasehold sites to be competitve, as developers are eager to build up their land banks.

The site in Lorong 1 Realty Park - in an established residential area in Hougang - spans 13,398.6 sq m and could yield 50 landed homes with a maximum height of three storey. The land parcel is released for sale via the confirmed list of the Government Land Sales (GLS) Programme for this half of the year.

Meanwhile, the second site in Stirling Road had been on the GLS reserve list since March 2010. It was triggered by an application from a developer last week, who committed to bid at a minimum price of S$685.25 million.

The 21,109.5 sq m site in Stirling Road can potentially yield 1,110 private apartments.

The URA said the tender for the Stirling Road plot will close at noon on May 18, and that for Lorong 1 Realty Park wil close at noon on June 1.