Serangoon residential site launched for sale

The Housing and Development Board (HDB) is launching a residential site at Upper Serangoon Crescent and Upper Serangoon Road for sale by tender.

Slated for condominium development, the site – located near Buangkok and Hougang MRT stations – can potentially yield 860 apartment units.

HDB said the land parcel has a site area of over 24,600 square metres, with a maximum gross floor area of over 86,000 square metres. The site has a lease term of 99 years and the tender will close at noon on September 17.

Under its second-half Land Sales Programme for this year, the government has placed 17 sites on the Confirmed List and 13 sites on the Reserve List for private residential development.

Together, these 30 sites can potentially generate about 14,200 private residential units.

At the end of the second quarter, there was a total supply of 71,111 uncompleted private residential units in the pipeline with nearly 33,900 units remaining unsold.

Source : Channel NewsAsia – 26 Jul 2011

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