Two govt sites up for tender to yield 700 residential units

THE Housing and Development Board (HDB) released a mixed-use site in Yishun and an executive condominium (EC) site at Anchorvale Crescent in Sengkang for tender on Tuesday that are estimated to yield a total of 700 residential units.

While both 99-year leasehold sites appear fairly attractive, the current unsold residential stock in their vicinity could prove to be a deterence to developers. Still, consultants are expecting the commercial-residential site at Yishun Avenue 4 to draw a high number of bids.

"We expect developers' response to the site to be fairly enthusiastic as commercial/residential developments typically sell well," said ERA Realty key executive officer Eugene Lim.