The Housing and Development Board (HDB) will launch on Wednesday a land parcel at Sengkang East Avenue for executive condominium development under the Reserve List System.
HDB said the 17,000 square metre plot will have a permissible gross floor area of over 51,000 square metres. Property consultants estimate that the 99-year lease site could fetch about 450 to 500 units, with a land price of S$110 to S$130 per square foot per plot ratio.
As developers are still fairly confident of the mass market property segment, market watchers said the land parcel will attract moderate interest from developers, with up to six bids for the site. - CNA/ms
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