Friday, September 26, 2014

Here's one GLS site to look out for!


The URA and HDB have released two 99-year leasehold sites under the H2 2014 Government Land Sales (GLS) Programme yesterday. Both sites are expected to yield about 1,000 units of private homes jointly.

The first site is slated for a mixed-use development located along Upper Serangoon Road. However, it is the second site that will probably generate more interests... at least in our opinion.

The said plot is located in Dundee Road near Commonwealth Road, which was made available for sale on the Reserve List. The 10,516sqm (113,194sqft) site, with a maximum GFA of 51,528sqm (554,653sqft) is expected to yield 645 units.




The Dundee Road plot is actually located next to Commonwealth Towers, which site was acquired by CDL/Hong Leong at $883psf ppr back in December 2012. Units in this development were sold at average prices of around $1,600psf.

So it will be interesting to see the response from developers for this adjacent site this time around, given the less than rosy market sentiments...


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