Developer Sim Lian Land has clinched the tender for the residential site at Tampines Avenue 1 and Avenue 10. It submitted the top bid of S$302 million for the 3.2-hectare plot.
The site with a 99-year lease had attracted a total of eight bids. The remaining bids range between S$168 million and S$289 million.
The Urban Redevelopment Authority (URA) said it is the fourth residential site to be sold through the Confirmed List of the Government’s Land Sales Programme in the first half of 2010. Others include land parcels at Choa Chu Kang Road, Buangkok Drive and Yishun Avenue 11.
The four sites can potentially yield 1,710 housing units.
URA added that another four residential sites will be released for sale in March and April, which could add an extra 1,215 units. They are located at Boon Lay Way, Simei Street 3, Sembawang Road and Upper Serangoon Road.
URA has also assured that there is sufficient land supply to meet any surge in demand. It said a potential supply of 10,550 units will be made available from the Confirmed List and Reserve List system for the first half of the year.
This is the highest total supply quantum from any half-yearly government land sales programme.
Separately, URA has also awarded the tender for a transitional office site at Mohamed Sultan Road to LINK (THM) Holdings at S$17.2 million.
Source: Channel News Asia, 19 Mar 2010