After former sale closers, URA (Urban Redevelopment Authority) of Singapore recently released two more residential properties along with two other plots that can be used for residential as well as commercial purpose. All four plots have a 99 years lease and the overall yield from these properties is expected to be somewhere around 1915 homes.
These sites are launched under the land sales programme of government in the H2 of 2019. Two properties under this programme will fall under theconfirmed list; they are located at Middle Road and Sims Drive area.
The Middle Road site is somewhere around 7463 square metres,andit is intended for dwelling purpose; however, the first story can be usedfor commercial needs. In the high-rise zone, these buildings can have 20 stories; whereas, the low-rise zones are limited to six stories only. The government has authorized builders to design 375 apartments at this site, but it is not recommendedfor development of houses (Strata landed), serviced apartments and private condominiums.
The estimated dimension of the ground floor at this site is 31,344 square metresof maximum GFA; out of which, around 1500 square metrescan be used for commercial purpose where people can open restaurants and shops etc.; but this space cannot have offices. Note that, some of the most popularlandmarks that can be found for Middle Road Site includes places like Bugis Junction, renowned hotel, Raffles hotel and the iconic South Beach Tower.
On the other side, the residential land at Sims Drive that is locatedat Geylang has an overall dimension of 16,225 square metres. This space is dedicated for residential purpose only where builders will be developing approximately 570 residential apartments. Condominiums, as well as with a combo of strata houses are approved for this site. However, serviced apartments are not acceptable at this site. The estimated permissible GFA for this site is 48,676 square metres. Reports say that both these tenders will be closed by 28thof March 2019.
Also, the Tan Quee Lan Street Dairy Farm Walk sites which are approximately 11,530.9square and 15,663.2 square metresrespectivelyare also available for sale, but the will be available only after filing applications for the list for the reserved sites. It clearlymeans that tenders for these sites will be triggered onlywhen builders will submit their applications with the minimum acceptable purchase price. Note that, out of these two sites, the plot at Dairy Farm Walk is zonedfor residential needs; whereas the land at Tan Quee Lan Street can be utilized for commercial purpose at its first story.
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