An expression of interest (EOI) has been issued for a residential development site located at Jalan Naung, with an asking price of $8.38 million. The land, which is zoned for residential use under the URA Master Plan 2019, is situated in a three-storey mixed-landed area and has a 999-year leasehold. Spanning 5,408 sq ft in total, the land parcel can be bought at $1,550 per square foot of land.
According to Brilliance Capital, the exclusive marketing agent for the land, interested parties can potentially develop the site into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from relevant authorities.
The location of this site is highly attractive as it is within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall are also just a short 10-minute drive away. Families with school-going children will also be pleased to know that there are several reputable schools within a 1km radius, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School.
Brilliance Capital emphasises that the land is owned by a single seller, which will ensure a smooth and hassle-free transaction for potential buyers. “We anticipate strong interest from developers, ranging from boutique firms to larger setups, aspiring developers, and end-users looking to build their dream home,” says Sammi Lim, the founder and executive director of Brilliance Capital. She adds that it is rare for such a plot to be available for sale, especially one that offers various development options to cater to different needs and preferences, including multi-generational living.
The EOI exercise for this coveted land parcel will close on March 6 at 3pm. Interested parties are advised to act fast to secure this rare opportunity.