Residential

Reserve-list plot in Geylang draws interest

Two 99-year private housing sites in Geylang will be launched by the government this December.  One of them, a plot along Geylang East Avenue 1 next to Aljunied MRT Station and on the government’s reserve list, is expected to draw more interest from developers. The successful applicant has agreed to bid at least $95 million or $505.28 psf ppr at tender for the site. The site is 0.62 hectare in size and is expected to have 215 units. It is reported that the bite-sized investment quantum has made it more attractive to developers, compared with a larger site in the vicinity that will also be launched for tender by the government later this month through the confirmed list. This larger site, which fronts Sims Drive, Aljunied Road and the Pan Island Expressway, has an area of 2.4 hectares and ...