URA launches Tampines residential site for sale by public tender

The Urban Redevelopment Authority has launched a residential site at Tampines Avenue 1/Avenue 10 for sale by public tender.

The land parcel is one of four new residential sites to be offered for sale as a confirmed site under the Government Land Sales Programme for the first half of this year.

The 99-year leasehold site spans about 3.2 hectares. It will have a maximum permissible gross floor area of 66,655 square metres.

The land also fronts the Bedok Reservoir, offering a panoramic view of the lake.

Consultants from real estate services firm CB Richard Ellis expect units in the new development to sell for around S$700 per square foot.

This will translate to a possible land price of around S$200-$230 per square foot per plot ratio for the site.

The tender will close at noon on August 12. – CNA/ir

Source : Channel NewsAsia – 17 Jun 2008

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