Singapore EC site at Yishun Avenue 9 launched for sale
SINGAPORE – HDB has released an executive condominium (EC) website at Yishun Avenue 9 offer for sale by public tender. The 231,575 sq ft site is under the Confirmed Checklist of the 1H2020 Government Land Sales (GLS) Program.
The 99-year leasehold site can possibly generate about 600 devices with a maximum gross floor area of 648,417 sq ft.
Lee Sze Teck, director of research study at Huttons Asia, says: “At more than 2ha in size, this is just one of the biggest sites for EC advancement since the sale of a website at Tampines Method 10 in October 2018.”
The upcoming job there is Parc Central Residences by Hoi Hup Real Estate and Sunway Advancement.
Lee claims that the action for the site is unlikely to be influenced by the Covid-19 episode as the task launch could be in 2022. “The unpredictability over the economic situation will certainly have been removed already. There is potentially bottled-up need for an EC [in the area] as the launch of Trademark at Yishun and The Requirement was in 2015.”
The tender closes on Oct 29, about 6 months after the launch. Historically, the tender periods for EC sites are shut within a month or more after it is released, observes Nicholas Mak, head of the study & working as a consultant at ERA Realty.
“A possible factor for the record tender duration of this Yishun site is to obtain a greater land quote. The authorities might be hoping that when the tender closes near the end of October, the Covid-19 pandemic might already be contained, and the marketplace sentiments would have improved,” he claims.
There is also an “expanding possibility” that the supply of land under the Confirmed Listing of the 2H2020 GLS Programme will be reduced, offered the anticipated reduced housing demand because of the pandemic. Thus, upcoming EC sites may just be located in the Get Checklist rather, states Mak.
“Since developers are unlikely to cause any sites in the Reserve Listing when the marketplace doubts, this Yishun Method 9 EC site could be the only EC site to be offered this year,” Mak says.
He adds that likewise, there was just one EC development land parcel marketed in 2016 and also in 2017, because of the weak market sentiment at the time.
For the Yishun website, Mak anticipates to see between seven and also 10 bids, and also leading proposals of between $500 and also $540 psf per story ratio (ppr). Lee claims that the website might pull in top offers of between $520 as well as $550 psf ppr, as well as six to eight bidders.
The Parc Central Residences will also the best Residence compared to the Midwood which is going to be launch in January 2021. There are also lots of peoples who want to know the site plan of Parc Central Residences and if you also want to know about the parc central residences floor plan, then check it out now.
But if you want to check it out soon, then Parc Central Residences Preview will open in early January 2021 add booking is open now.
So, Register your interest now or book the Parc Central Residences showflat appointment.
Due to COVID 19 pandemic, Midwood Showflat is also open for online booking. You can also register online to receive direct developer discount offers and prices.