A private residential site, which located next to the Redhill MRT Station at Alexandra View has been put up for sale via public tender by the Urban Redevelopment Authority (URA). This is one of the confirmed sites under the 2H2015 Government Land Sales (GLS) programme, with a land size of approximately 90,417 sqft and zoned for commercial usage on the 1st level of the future mixed development. With a maximal gross floor area (GFA) of 443,000, the new project is expected to yield an estimate of 400 private homes.
Channel NewsAsia video report on Alexandra View site and Jalan Kandis site
As of now, a couple of new launch condos along Alexandra View are already under construction. namely Echelon and Alex Residences, which are fully residential developments. Nearby the Redhill vicinity, you will also find other new launch condos such as The Crest condo by Wing Tai Holdings and the upcoming Principal Garden condo by UOL.
Property analysts expected this site to attract relatively strong interests from developers of various calibre and scale due its close proximity to MRT Station and Orchard shopping belt. As mentioned, this land parcel could see at least 6 to 12 submission of bids being submitted, which should include some developers who have previously took part in the earlier tenders along Alexandra View.
It was also mentioned that the top bid could come in as high as S$400 million or S$903 psf ppr as developers are actively on the lookout for land plots given the shortage of residential sites for sale under the 2H2015 GLS programme as compared to the past.
Another residential site released for sale by the URA (under the reserve list) is at Jalan Kandis, Sembawang, which can yield approximately 115 residential units.
