Singapore, 31 Aug 2022 TWO 99-year leasehold sites at Bukit Timah Link and Hillview Rise have been launched for sale under the confirmed list of the Urban Redevelopment Authority’s (URA) second half 2022 Government Land Sales (GLS) programme.
In a press statement on Wednesday (Aug 31), URA said both sites combined can yield about 495 residential units.
Steven Tan, chief executive of OrangeTee & Tie, expects 6 to 8 bidders for each of these sites at a psf ppr price range of S$1,200 to S$1,300 for the Bukit Timah Link plot, and S$950 to S$1,050 for Hillview Rise.
“As these 2 plots are smaller than the upcoming launches at Tampines Avenue 11 (5.07 hectares and estimated 1,190 units) and Marina Garden Lane (1.23 hectares and estimated 795 units), developers may be keener to acquire these 2 plots given the lower risks and costs involved,” said Tan of the latest GLS launches.