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Government launches three lots for tender

The three lots are expected to provide approximately 2,000 residential units to the market. The interviewed analysts said that due to the impact of real estate cooling measures, the bidding situation is not expected to be too intense. Only EC at Tampines Ave 10 may attract up to 10 bids if demand exceeds supply.

The Urban Renewal Authority and the Housing Development Board launched three tenders under the Government Land Sale Programme (GLS) for tenders, which are expected to provide about 2,000 residential units to the market.

The interviewed analysts said that due to the impact of real estate cooling measures, developers should continue to be cautious and the bidding situation will not be too intense. Only one of the executive condominium (EC) locations may attract up to 10 bids if demand exceeds supply.

The three sections that the government launched yesterday, in addition to the EC (Tampines Ave 10 EC), also include a private plot and a white lot.

 Among them, the private residential area launched by the Urban Renewal Authority is located on Kampung Java Road, with a total floor area of ​​about 3,602 square meters. It is estimated that 435 units can be built. The EC site launched by the Housing Development Board is located at Tampines Ave 10 EC with a total gross floor area of ​​about 69,928 square metres. About 695 units can be built.

The above two lots are on the 99-year title deed on the list of government land sales plans. The deadline for open tenders is 12 noon on January 15 next year.

Another white location, launched by the Urban Renewal Authority, is located in Marina View, which is used by interested developers to “hook out” on the government sale list. This site is expected to build 905 private units, 540 hotel rooms, and commercial floors of approximately 2,000 square meters.

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