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The Land Transport Authority has given the greenlight in principle for property developer Heeton Holdings'to build 1,052 dwelling units on the site where Serangoon Ville now sits.
Heeton, which made the announcement on Friday, is part of a consortium led by Oxley Holdings which clinched the site in a collective sale. It has an effective 5 per cent stake in the consortium, which also includes Lian Beng Group, Apricot Capital and entities of KSH Holdings.
Serangoon Ville currently comprises only 244 units.
On Monday this week, the government said that with immediate effect, for collective sale sites of a certain scale, developers are to conduct a pre-application feasibility study to assess the traffic impact on the area and propose car-lite initiatives, traffic demand management measures and feasible transport improvement plans.
This is to ensure that the enlarged number of units does not put undue pressure on existing infrastructure in the estate.