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Bids for 3 EC sites to close on same day

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In a move to moderate tender bids and future property prices, the tender for three sites will close on the same day for the first time.

Included in this exercise is an executive condominium (EC) site at Punggol Central, one of the four sites released as part of the Government Land Sales Programme for the first half of 2013.

The other two EC sites whose tender closes on July 30 are in Punggol Drive and Yuan Ching Road.

The Punggol Central plot, which is about 146,010 sq ft, has a maximum building height of 64 metres above mean sea level (AMSL). Maximum gross floor area (GFA) for the site is about 438,030 sq ft. It will be launched for sale on April 29 and is expected to yield about 395 homes.

The Punggol Drive and Yuan Ching Road plots will be launched in June.

The idea to offer multiple sites for sale at around the same time was flagged as a possibility by the Urban Redevelopment Authority's (URA) earlier this year.

In a statement released yesterday, the Housing and Development Board (HDB) said the move to close the tenders on the same day was initiated in response to feedback from the public and real estate industry that this could help moderate tender bids and future property prices.

The second EC site, which is located at Anchorvale Crescent, is about 247,570 sq ft which translates to 742,709 sq ft GFA. The site has a maximum building height of 64 metres AMSL, and is expected to yield about 690 units. Closing date for the tender is May 30.

Separately, the 162,808 sq ft residential site at Faber Walk is expected to yield about 210 units. It has maximum GFA of 227,936 sq ft, and has a maximum building height of five storeys. Closing date for the tender is June 18.

The final residential site at Fernvale Close sits on a plot of about 160,710 sq ft, which translates to a maximum GFA of about 482,131 sq ft. It has maximum building height of 80m AMSL, and is expected to yield about 495 homes. Closing date for the tender is June 13.

The EC site at Anchorvale Crescent and two residential plots at Fernvale Close and Faber Walk were launched for sale yesterday.

Source: Business Times - 16 April 2013
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