URA, HDB release two residential sites for sale

A researcher said it expects strong turnout for bidders.

The Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) released two residential sites at Ang Mo Kio Avenue 1 and Tengah Garden Walk for sale today under the second half 2020 Government Land Sales Programme.

The two sites yield a total of 985 residential units.

Wong Siew Ying, head of research and content at PropNex, said with the improved market sentiments, developers' confidence has returned along with a strong appetite for land acquisition that means a possible strong turnout for bidders at both sites.

Ying predicts the top bid for the Ang Mo Kio Avenue 1 site to be around $273 million to $290 million or $800 to $850 psf per plot ratio whilst placing the Tengah Garden Walk site at $345 million to $365 million or about $520 to $550 psf ppr.