SINGAPORE – The City Redevelopment Authority (URA) has launched two residential websites at Canberra Crescent and De Souza Avenue for tender.
The land plots are confirmed listing websites that fall beneath the federal government land gross sales programme (GLS) for the primary half of 2024, URA introduced on April 16.
The Canberra Crescent has a website space of 20,437.3 sq m and a most gross ground space (GFA) of 32,700 sq m. URA estimates the plot might yield round 375 items.
In the meantime, the De Souza Avenue pot spans 19,245.4 sq m in website space with a most GFA of 30,793 sq m, probably yielding round 355 items.
Collectively, the websites might yield round 730 residential items.
Huttons senior director of knowledge analytics Lee Sze Teck expects the De Souza Avenue website to draw between one and three bidders. He estimates the highest bid will fall between S$1,200 and S$1,300 per sq. foot per plot ratio (psf ppr), which interprets to a bid between S$397.74 million and S$430.88 million.
As for the Canberra Crescent website, Mr Lee believes the plot will appeal to as much as three bidders with a high bid starting from S$900 to S$1,000 psf ppr. This interprets to a bid value between S$316.78 million and S$351.98 million.
The tender comes amid plans by the Singapore authorities to make 5,450 residential items obtainable through the confirmed listing of the H1 2024 GLS programme. That is the best provide of confirmed listing items for the reason that H2 2013 GLS programme.
The tenders for each websites will shut at 12 pm on July 18. THE BUSINESS TIMES
