The bids for two land plots at Bukit Timah and Hillview were a surprise to market watchers this week. These mid-sized plots in proven areas were expected to draw substantial developer attention; especially with new launches seeing continued demand and a low supply of new homes. However, developer interest was lacklustre; and it may be a worry for anyone hoping for en-bloc deals this year.
Two GLS sites with notable locations
The Bukit Timah Link site (99-year lease) has a land area of around 4,611 sqm., and a GFA of 13,834 sqm. This is a small plot that would yield around 160 units.
The location of the Bukit Timah plot will be immediately recognisable to most market watchers: it’s located next to Linq @ Beauty World, one of the fastest-selling projects in 2021. (Linq @ Beauty World sold 115 of its 120 units over its launch weekend).
Like its under-construction counterpart, this site offers walking access to Beauty World MRT (Downtown Line)...