On 15 November 2012, the Government announced the sale, under the Confirmed List, of two land parcels at Jurong West Street 41 (Parcel A) and Ang Mo Kio Avenue 2. The second land plot at Jurong West Street 41 (Parcel B), adjacent to Parcel A, is made available on the Reserve List. It is estimated to be able to accommodate 545 housing units on its 18,507.1 sq m land. All three sites are for private residential development.
Confirmed-list lands are put up for bidding on the market regardless of interest, whereas reserve-list sites go on sale only if there is 1) An offer that is at least 85% of the Chief Valuer's (CV) Estimated Market Value (EMV). The valuation will only be made after an offer is made; or 2) More than one offer within a reasonable period, by unrelated parties, that are close to EMV.
The fourth site is a mixed commercial and residential site at Yishun Ring Road. It will only be launched for sale by public tender on 27 November 2012.
Together, the four sites are expected to yield 2,045 housing units. With land sites at Ang Mo Kio Avenue 2 (18,477.5 sq m), Jurong West Street 41 (Parcel A) (22,358.2 sq m) and Yishun Ring Road (8,858 sq m) yielding 680, 545 and 160 units, respectively. Tenders for these sites will close at 12 noon on 8 January 2013, 15 January 2013 and 24 January 2013, respectively (All figures are from URA).
The main draw for the plot at Ang Mo Kio Avenue 2 is its proximity to the upcoming Mayflower MRT station at Ang Mo Kio Avenue 4. In addition, many good schools are in its vicinity, including CHIJ St Nicholas Girls' School.
For the two land parcels at Jurong West Street 41, the main attraction is their closeness to the commercial hub at Jurong Gateway and the vibrancy of the area as a future waterfront district where business and leisure meet. Major plans are already underway to develop the district. Another upside of the sites are their proximity to transport links, like Lakeside MRT Station.
In contrast, the land plot at Yishun Ring Road is situated at an area with limited redevelopment plans. Nevertheless, its plus points include having Yishun Town Centre and Yishun MRT station close by, and being a mixed commercial and residential site among predominantly HDB flats.
Read more articles at
PropertyBuyer.com.sg/articles
SingaporeHomeLoan.net/blog/
iCompareLoan.com/resources/category/faq/
References
1. Chay, Felda, “Sale of 4 Suburban Sites to Yield 2,045 Private Homes”, The Business Times 16 Nov 2012, Web
<http://www.businesstimes.com.sg/premium/singapore/sale-4-suburban-sites-yield-2045-private-homes-20121116>
2. URA, “Government to Release Four Sites Estimated to Yield 2,045 Housing Units in November 2012 ”, 15 Nov 2012, Web
<http://www.ura.gov.sg/pr/text/2012/pr12-125.html>
3. URA, “Procedure for Reserve List System”, Web
<http://www.ura.gov.sg/sales/reservelist/procedurerl.html>
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