The Housing and Development Board (HDB) is releasing a land parcel for condominium housing at Elias Road in Pasir Ris. The 99-year leasehold site occupies an area of 14,126 square metres and has an allowable gross floor area of 42,379 square metres.
The site is located within the Pasir Ris HDB estate and is about 10 to 15 minutes' walk to the Pasir Ris MRT station.
It is also near amenities such as Elias Mall, Whitesands shopping centre, Pasir Ris Park, Downtown East and Meridien Junior College.
Consultant CB Richard Ellis says the future project will be able to fetch prices of around S$700 per square foot.
It expects the site to attract bids between S$260 and S$300 per square foot per plot ratio.
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.
The tender closes on December 18th. - CNA/ch
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