URA launches residential sites at Lentor Hills Road, Jalan Tembusu for tender

THE Urban Redevelopment Authority (URA) has released for sale three residential sites at Lentor Hills Road (Parcels A & B) and Jalan Tembusu, it said in a statement on Thursday.

The sites are released under the second half 2021 government land sales (GLS) programme.

The sites at Lentor Hills Road (Parcel A) and Jalan Tembusu are launched for sale under the confirmed list, while the site at Lentor Hills Road (Parcel B) is available for application under the reserve list.

Confirmed list sites are launched according to schedule regardless of demand, while land parcels under the reserve list system will only be released for sale if it receives an offer of a minimum price that is acceptable to the government.

The tender for the sites at Lentor Hills Road (Parcel A) and Jalan Tembusu will close on Jan 18, 2022 at 12 noon.

Huttons Asia's senior director of research Lee Sze Teck said the Jalan Tembusu site sits in "a popular area for many buyers", and expects its successful tender price to be between S$1,400 and S$1,500 per square foot per plot ratio (psf ppr), with the number of bidders capped at 10.

Meanwhile, ERA Realty's head of research and consultancy Nicholas Mak said Jalan Tembusu's top bid could range from S$1,250 to S$1,350 psf ppr and attract five to 10 bids.

As for the Lentor Hills site, Mr Lee expects the successful tender price to be between S$1,150 and S$1,250 psf ppr with not more than 10 bidders, noting that the site - the second to be launched in the area after Lentor Central - will benefit from amenities located nearby.

Mr Mak expects the site's top bid to range from S$1,170 to S$1,250 psf ppr and attract five to 10 bids, adding that although the tender closing for the Lentor Central site had set a new price record for a GLS site in the outside central region, the top bid for Parcel A could exceed that record high as "some developers are still hungry for land".