Tanjong Katong Clementi housing sites Bt Panjang EC plot up for sale
Tanjong Katong Clementi housing sites Bt Panjang EC plot up for sale. Three home sites are now available for purchase under the Government Land Sales (GLS) Program.
The Jalan Tembusu site of the Urban Redevelopment Authority (URA) is the largest of the three, with an area of 20,572.1 square metres (sq m) and a potential gross floor area (GFA) of 72,003 sq m. At a maximum height of 80 to 85 meters, it could produce approximately 825 units.
The URA also released the Clementi Avenue 1 site, which measures 13,451.1 square meters, has a GFA of 47,079 square meters, and can be built on up to 140 meters. The land is intended to yield 500 apartments, with a cap of 501 units in place to accommodate traffic demand in the neighborhood.
The third HDB-provided site in Senja Close is an EC site. It is the smallest site in this launch, with a total area of 10,159.2 square meters and a gross floor space of 30,478 square meters. The plot may accommodate 300 flats with a maximum building height of 150 to 153 meters.
All three sites are on the GLS reserve list for the second half of 2022 and will be made available for sale only if a developer submits an acceptable tender offer. Huttons Asia’s Lee Sze Teck called the Jalan Tembusu location “popular,” citing its proximity to the Tanjong Katong MRT station. He did, however, mention that the area has “ample supply” thanks to projects like Jalan Tembusu Residences and The Continuum.
Meanwhile, ERA’s Nicholas Mak noted a “dearth of new mass-market condominium projects” in the Clementi district, with surrounding properties mostly or completely sold out. He expects the Clementi Avenue 1 site to sell for between S$1,050 and S$1,120 psf ppr, while Lee expects a top bid of between S$1,000 and S$1,100 psf ppr. According to Lee, this is the district’s first EC site launch in more than a decade. “There may be pent-up demand for ECs,” he said, estimating that the site could receive three to five bids ranging from S$600 to S$650 per square foot per year.
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