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A 99-year-leasehold private housing site at the corner of New Upper Changi Road and Bedok South Avenue 3 has been triggered for launch from the government's Reserve List.
This followed a successful application by a developer for the site to be put up for public tender; while the Urban Redevelopment Authority did not name this party, it said the developer has committed to bid at least S$320 million for the site.
This works out to about S$580 per square foot of potential gross floor area.
The 2.4-hectare site is estimated to yield about 570 homes.