A prime residential development site located at Jalan Naung has been put up for sale through the expression of interest (EOI) process. The property, with an asking price of $8.38 million, is zoned for residential use under the URA Master Plan 2019 and is situated within a three-storey mixed-landed area.
Spanning an area of 5,408 sq ft and with a 999-year leasehold, the land parcel is located off Upper Serangoon Road in District 19. This translates to a land rate of $1,550 psf.
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According to Brilliance Capital, the sole marketing agent for the property, the site has the potential to be developed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities.
The strategic location of the land makes it an attractive investment opportunity. It is within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall are also just a short 10-minute drive away.
Moreover, the property is surrounded by reputable schools, with CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School all within a 1km radius.
According to Sammi Lim, the founder and executive director of Brilliance Capital, the vacant plot of land is owned by a single seller, making the acquisition process streamlined and hassle-free for potential buyers.
“We expect strong interest from developers, ranging from boutique firms to larger setups, as well as aspiring developers and end-users who are looking to build their dream homes,” says Lim. “It is rare for such a development site to be available for sale, especially one that offers various options and permutations for development to cater to different needs and preferences, including multi-generation living.”
Interested parties can submit their EOIs for the property by March 6 at 3pm.