URA auctioned off 14 plots of land in Sembawang, and they were all snapped up by developers! We think this has got to be one of the most exciting property news so far this year, and can definitely look forward to check out what the developers have in store.
In case some of you forgot, these plots of land were released for sale on 16 Sept, and are part of a new development in Sembawang known as Sembawang Greenvale under the GLS.
A little info about Sembawang Greenvale: It’s located along Sembawang road (duh!), in the Penaga Place/Inggu Road/Wak Hassan Drive/Wak Hassan Place area. Divided into 3 phases, which consists of these 14 plots. Phases 1 and 2 were sold in 2007 and 2008 respectively. The govt has provided the area with infrastructure such as roads, gas supply and electricity in order to transform the area into a more upmarket area. Thereby also making the place sound like it was previously one of the most ulu areas in Singapore.
Seems like Sembawang will no longer be known as a sleepy town. It’s now home to no less than 100 landed property (ie, bungalows, semi-detached and terrace houses).
According to URA, the sale of these plots allows small developers to join in the GLS by bidding for the smaller plots. These plots range from 10,054 sqft to 40,867 sqft. If you are really curious, here’s the list of successful bidders/developers.
Judging by the amount these developers paid, we wonder how much a single unit will cost on average. Any guesses? Let us know!
Source: URA
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