SLA Releases Residential Site At Woodlands For Development

Source : Channel NewsAsaia, 23 October 2007

The Singapore Land Authority (SLA) has released a residential site for development by tender at Woodlands Avenue 2 and Rosewood Drive.

The site, called Rosewood at Woodlands, occupies an area of some 16,000 square metres, with a gross plot ratio of 1.4.

It could potentially support a condominium of up to five storeys, with a gross floor area of 22,400 square metres.

SLA said the completed development is expected to attract HDB up-graders in the Woodlands and Sembawang areas and cater to the expatriate community.

Rosewood at Woodlands is located near educational institutions such as the Singapore Sports School, Singapore American School, Innova Junior College, Si Ling Primary School and Republic Polytechnic.

It is also near major transport links such as the Seletar Expressway and the Woodlands MRT station and bus interchange.

SLA said the site is being released under its confirmed list system, which means the parcel will be sold by tender at a pre-determined date, without the need for the sale to be triggered by any developer's application.

Consultant Colliers International has been appointed to market the site.

Rents in the Woodlands and Mandai area have surged between 25 percent and 30 percent in the third quarter of 2007, recording one of the highest growth rates.

This was due largely to the Singapore American School being located within the area.

The tender for the Woodlands site will close on November 20th. - CNA/ch