The Housing and Development Board (HDB) will launch the tender for a residential site at Punggol Field Walk on Wednesday.
Slated for condominium development, the site can potentially yield 550 dwelling units.
It’s being released for tender under the Confirmed List of the First Half 2011 Government Land Sales Programme.
Located near Sungei Serangoon, residents will enjoy convenient access within Punggol and around Singapore via the Coral Edge LRT Station which is next to the site.
The land parcel has a site area of over 14,000 square metres, with a maximum gross floor area of over 48,000 square metres.
The site has a lease term of 99 years and the tender will close at 12 noon on September 1.
In a statement, HDB cautions potential residential property buyers to bear in mind the strong supply in the pipeline when making their purchasing decisions.
As of the first quarter, 68,890 private residential units are in the pipeline, comprising supply from projects that were already under construction and those that had been granted planning approval but were not under construction yet.
And 34,270 of these were still unsold as at the end of Q1.
In addition to the supply of private residential units, there are also 4,220 executive condominium (EC) units in the pipeline as at the first quarter.
Source : Channel NewsAsia – 28 Jun 2011