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