28 Mar '14, 2am

The Straits Times: Three residential sites were rolled out for sale...

The Straits Times: Three residential sites were rolled out for sale...

THREE residential sites were rolled out for sale under the first half of the Government Land Sales (GLS) programme yesterday. Two of the parcels are adjacent to each other at Yishun Street 51 and meant for executive condominiums (ECs). They were put up for sale under the confirmed list, while a plum residential site at Margaret Drive was made available on the reserve list. Confirmed sites go on sale regardless of interest. Those on the reserve list are put up for tender if a developer submits an acceptable initial offer. The three sites, which are on 99-year leases, could yield about 1,300 homes, the Urban Redevelopment Authority and Housing Development Board said in a joint statement. Market watchers said they do not expect developers to trigger a tender for the Margaret Drive site, given steep land prices and a slowing property market. However, developers are likely to b...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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