SINGAPORE – Two private residential sites at Stirling Road and Lorong 1 Realty Park were launched for sale by the Urban Redevelopment Authority (URA) on Thursday (April 20).
The 99-year leasehold sites together can potentially yield about 1,160 residential units.
The land parcel at Stirling Road in Queenstown was triggered for sale after a developer committed to bid at no less than S$685.25 million. That bid translates to S$718 per square foot per plot ratio based on the site’s maximum gross floor area of 88,660 square metres.
The 2.11 hectare site, which is within walking distance to Queenstown MRT station, can accommodate 1,110 units. It was first made available for sale as a reserve site in March 2010.
The 1.34 ha parcel at Lorong 1 Realty Park, at the junction of Hougang Avenue 2 and Upper Serangoon Road, is for about 50 conventional or strata-titled landed homes. The site was confirmed for sale in the first half of this year.
The public tender for the Stirling Road site will close at 12 noon on May 18, while that for the site at Lorong 1 Realty Park parcel will close at 12 noon on June 1.