MORE condo-style Housing Board flats will soon be offered to home buyers looking to live in Singapore’s east side.
The HDB yesterday released a plum 181,108 sq ft site in Simei Road for tender - the fifth under its Design, Build and Sell Scheme (DBSS), which is open to private developers.
The 99-year site has a gross floor area of about 380,327 sq ft - enough for 360 homes.Market watchers said developers will be keen on the plot due to its attractive location in a mature, established HDB estate just 10 minutes’ walk from Simei MRT station.
Knight Frank director of research and consultancy Nicholas Mak said the site, which could have residential blocks going up to 15 storeys, was likely to attract bids from medium-size developers and construction companies. He projected offers ranging from $49 million to $76 million, or $130 to $200 per sq ft per plot ratio.
The new site tender comes after National Development Minister Mah Bow Tan said recently that HDB will cater to buyers with different aspirations by providing a range of housing options. But the minister also stressed that standard flats built by HDB will continue to be the main stock of new supply.
A further two DBSS sites - in Toa Payoh and Bedok - are expected to be released soon. These and the Simei site could mean up to 1,500 new public condo-like flats coming on to the market.
That figure is 4,000 if flats earmarked for the four sites already released - Tampines, Boon Keng, Ang Mo Kio and Bishan - are included.
Flats at City View @Boon Keng, comprising three- to five-room units, were offered at between $349,000 and $727,000 - about $520 psf. The Simei tender closes at noon on June 3.
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