An opportunity presents itself for interested developers with the launch of an expression of interest (EOI) for a residential development site located at Jalan Naung. The site, which boasts a 999-year leasehold and spans 5,408 sq ft, is now open for offers with an asking price of $8.38 million.
Situated in a three-storey mixed-landed area, the land is well-suited for residential use and falls under the URA Master Plan 2019. This prime location, just off Upper Serangoon Road in District 19, offers a plethora of possibilities for developers looking to create a unique and desirable living space. With an asking price of $1,550 psf on the land area, this valuable site is expected to garner strong interest from potential buyers.
Leading real estate agency Brilliance Capital, the sole marketing agent for the land, has highlighted the multiple development options available for the site. These include the potential for a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities.
The location of the site is another major draw, being within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. In addition, popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall are just a short 10-minute drive away. Families with school-going children will also appreciate the proximity to various reputable schools, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School, all of which are within a 1km radius of the site.
According to the founder and executive director of Brilliance Capital, Sammi Lim, the appeal of this vacant plot of land extends beyond just developers. “We anticipate strong interest from developers, ranging from boutique firms to larger setups, aspiring developers, and end-users looking to build their dream home,” she says. The fact that the land is owned by a single seller streamlines the acquisition process and promises a hassle-free transaction for potential buyers.
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Lim adds, “It is indeed rare for such a plot to be made available for sale in the market, particularly one that offers various options and permutations for development, catering to different needs and preferences, including multi-generation development.”
Interested parties are invited to submit their offers by March 6 at 3pm, when the EOI exercise for this prestigious land parcel will close. Don’t miss this rare opportunity to own a prime piece of real estate and turn your development dreams into reality.