Good Showing For Government Land Sales – Jalan Tembusu And Lentor Hills

Jalan Tembusu

The District 15 site was well received with 8 bids vying for a plot at the corner of Jalan Tembusu and Tanjong Katong Road. The highest bid of $1,302.26 psf ppr came from City Developments which was at the upper range forecast by property consultants. 

The 210,622 sqft Jalan Tembusu site is about 500m from the upcoming Tanjong Katong MRT Station along the Thomson-East Coast Line and can yield about 640 housing units. It is also near popular schools and eating outlets in Katong, East Coast Park and plentiful of amenities.

Lentor Hills Road (Parcel A)

The second plot near Lentor Hills MRT Station attracted 4 bidders with the highest bid at $1,060 psf ppr (from a tie-up involving entities of Hong Leong Group Singapore and GuocoLand). The 184,460 sqft plot can yield about 595 private homes. 

The successful bidder for this site will have to include an early-childhood development centre in the development. Market watchers noted that the $1,060 psf ppr top bid is 12 percent below the $1,204 psf ppr winning bid of the neighbouring plot in Lentor Central by GuocoLand in July last year.