The Urban Redevelopment Authority (URA) of Singapore are expecting to get a good number of bids from the developers for the tender they have launched on Thursday, October 21st, for the residential site in Dairy Farm Walk.
The Dairy Firm Walk is located near the junction of Upper Bukit Timah Road and Dairy Farm Road, a 10-minute walk from Hillview MRT station and next to German European School. It is also closed to Beauty World, Hillview Avenue, Bukit Panjang Shopping Mall and Bukit Tomah Shopping Centres. It’s a quiet enclave close to nature with complete condominium facilities. Dairy Farm Estate is a 20-minute drive to the Central Business District. It is having a area of 15,633 sq m, a gross floor area of 32,893 sq m which can accommodate around 385 units.
Facilities in the Dairy Farm Estate:
- 24-hour Security
- Swimming Pool
- Wading Pool
- Fitness Track
- Squash Court
- Tennis Court
- Car Park
- Mini Mart
- Clubhouse
- Playground
In 2021, the 99 year old leasehold site got its entry to the confirmed list of the second half of the government land sales (GLS) programme and thus the land parcels launched as per the schedule regardless of demand.
The supply of private home from confirmed GLS sites had been quite low in the second half of the year 2020 due to COVID 19 situation, but has increased well in the first half of this year. This year, the developers are bidding keenly for plum sites as there is a sharp decline in the unsold inventory.
There is a positive sentiment in the market now, developers are keen to replenish the land bank which is definitely an added advantage now.
Moreover, this location is having limited new supplies and the location is also quite lucrative. It is considered to be a perfect nature retreat and thus bound to attract purchasers and so the developers. The allowable height of the building is also giving some added advantages. As per the location, the North-facing units at the top floor can enjoy the unblocked view of the beautiful Chestnut Avenue good class bungalow area and the south-facing units at the top floor can enjoy the eye-soothing greenery. Thus, it is offering attractive views for people of all taste.
Mr. Lee Sze Teck, the senior director of research at property agency, Huttons Asia, has stated that he is expecting the tender to attract at least 8 bidders and a top bid of will range from $900 to $1000 per sq ft per plot ratio.
Tender for the site is open till March 8th next year. So, if you are one of those developers who are looking for a profitable project, give a thought to it, it seems to have the potential of bringing a good return.
Find out more from the page below,
https://www.straitstimes.com/business/property/ura-launches-sale-of-dairy-farm-walk-residential-site
Nearby freehold development
