The sale by tender of a mixed commercial and residential land parcel in the upcoming Bidadari housing estate has been deferred, it was announced yesterday.
The site, which can yield 825 private homes and 15,000 sq m of commercial space, was due to be put on the market this month.
It will now go up for tender by the end of the first quarter next year, said the Housing Board (HDB), which added that the deferment was to "allow the site requirements for comprehensive development to be finalised".
Spanning 2.55ha, the Upper Serangoon Road plot was on the confirmed list of the Government Land Sales Programme for this half of the year. It is next to Woodleigh MRT Station and is the first sale site at Bidadari - a new public housing estate envisioned to be a "community in a garden", with lush greenery and car-lite features.
SLP International Property Consultants research head Nicholas Mak noted that it is "very unusual" for the Government to defer the launch of a confirmed list site so near the scheduled tender time.
"The Government may require the developer to build certain facilities - perhaps a park or a childcare centre or a public library - that would serve the residents," said Mr Mak.
Details of site requirements are scant, apart from what was announced in the Government Land Sales programme in June.
It was stated then that the developer would have to build about 8,200 sq m of gross floor area in the development for "integrated community and institutional uses".
There was also a cap on the gross floor area of retail space at 15,000 sq m.
Analysts expect the site to draw keen interest from developers given its attractive location and potential demand from prospective home buyers.
"There has been overwhelming response for the Build-to-Order HDB flats released in Bidadari. Buying interest is definitely expected to be strong from home buyers for private residential properties in Bidadari as well," said R'ST Research director Ong Kah Seng.