SLA auctions six choice infill sites for residential development

SLA to auction six choice infill sites for residential use

1 Singapore Land Authority (SLA) will be releasing six residential sites on choice locations for sale, by auction, on 99-year leases. These sites are either within prime residential housing areas or they are centrally located in the heart of Singapore. Included in the sale are two large parcels of land of over 16,600 and 29,000 square feet located within the Eng Neo Avenue Good Class Bungalow (GCB) area in District 11. This is the first time that the SLA is releasing sites for a GCB development.

2 The distinctive feature of this land sale is that it presents a rare opportunity for buyers to purchase a plot of land to build their own dream homes tailored to their individual needs. Please refer to Annex A for details on the infill sites.

3 Basically, ‘infill’ sites are pockets of State land located in the midst of an established housing estate. They are State land that have either been left untouched by nearby development, or are formerly used for public purposes that have since been phased out, e.g. electrical sub-stations.

4 Assistant Chief Executive, Land Operations Group, Mr Simon Ong (王汉龙, 助理局长, 土地咨询商业部) said: “Our goal is to optimise the use of land in Singapore. Through this land sale, we will put the infill sites to productive use. At the same time, it will help to meet the current market demand for high quality residential properties and allow wider participation by individuals to build their own dream homes.”

6 Mok Sze Sze, Director, Head of Auction & Sales of Jones Lang LaSalle who is marketing the project adds: “The positive market sentiment for high-end residential developments over the last few quarters has fuelled demand for GCBs. A total of 79 GCBs worth $959.4 million changed hands in 1H07 while 61 GCBs worth $627.9 million was transacted in 1H06. This translates to a 29.5% increase in the number of units transacted and 52.8% increase in absolute value. With rising demand, the sites being released are definitely timely and offer buyers excellent choices suited for different needs.”

8 Interested parties are advised to register at the counter at the basement of M Hotel, 81 Anson Road, on 29 November 2007, at 2.00 pm before the auction commences at 3.00 pm. The table of details of six infill sites and photos of the six locations as well as artist’s impressions of a Good Class Bungalow in Eng Neo Avenue and semi-detached houses located in Jalan Insaf can be found at Annex A and Annex B respectively.

9 More information can be found in the developer’s packet. They can be purchased at $52.50 (inclusive of Goods and Services Tax) from the Singapore Land Authority at 8 Shenton Way #26-01, Singapore 068811 (Mon – Fri, 8.30am – 5.30pm, and Sat from 8.30am – 12.30pm) or from Jones Lang LaSalle at 9 Raffles Place #39-00 Republic Plaza, Singapore 048619, from Monday to Friday between 8.30am and 5.30pm.

-End-

Attachments:
Annex A - Table of details of six infill sites on sale
Annex B - Photos of six sites and artist’s impressions of a Good Class Bungalow in Eng Neo Avenue and semi-detached houses located in Jalan Insaf.

Issued by:
The Singapore Land Authority
25 October 2007
 

About SLA
Singapore Land Authority (SLA) is a statutory board with the Ministry of Law. Its mission is to optimise land resources for the economic and social development of Singapore. SLA is responsible for the direct management of some 14,000 hectares of State land and about 5,000 buildings. It is also in charge of land sales, leases, acquisitions and allocation, developing and marketing land-related information, and maintaining the national land information database through digitised land information services. SLA is also the national land registration authority for property transactions, and the issuance and guarantee of land titles in Singapore. It also manages and maintains the national land survey system, including the defining of boundaries or legal limits of properties based on a coordinated cadastre survey system. For more details, visit www.sla.gov.sg.

Annex A

Annex B

Artist's Impression - Eng Neo Avenue

Artist's Impression - Jalan Insaf

Bedok Close

Eng Neo Avenue

Eng Neo Avenue

Jalan Insaf

Mount Sinai

Somme Road