Two private residential sites in Bukit Timah Link and Hillview Rise for sale
Two private residential sites in Bukit Timah Link and Hillview Rise for sale. Two 99-year leasehold government land sites in Bukit Timah and Hillview, where new private housing supply is limited due to high demand from owner occupiers and Housing Board upgraders, have been put up for public tender.
Due to their acceptable scale and robust take-up of launches in these submarkets – Piccadilly Grand, [email protected], and AMO Residence – developers’ interest in these city fringes and suburbs is likely to be healthy. The Urban Redevelopment Authority stated on Wednesday that the two properties, which might yield a total of 495 units, are on the confirmed list of the Government Land Sales (GLS) Programme for the second half of this year.
The Bukit Timah Link site is 4,611.1 sq m in size and can contain 160 flats, while the Hillview Rise site is 10,395.2 sq m in size and can accommodate 335 units. According to JLL senior director of research and consultancy Ong Teck Hui, the two land parcels should be in high demand from developers looking to replenish their land banks due to a lack of unsold new home stock. “There are very few residential sites available on the GLS programme’s confirmed list, and securing collective sale sites is difficult due to a mismatch in pricing expectations between sellers and customers,” he continued.
Beauty World Centre, Beauty World Plaza, and Bukit Timah Shopping Centre are nearby, as are famous schools such as Pei Hwa Presbyterian Primary School and Methodist Girls’ School. Hillview Rise is near the Rail Mall, Dairy Farm Nature Park, and Bukit Timah Nature Reserve, as well as the Hillview MRT station.
The bidding for both locations will end on November 3 at noon.
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