A coveted residential development site located at Jalan Naung has hit the market, with an invitation for offers through expression of interest (EOI) at an asking price of $8.38 million. The 999-year leasehold land, spanning 5,408 sq ft, is sited off Upper Serangoon Road in District 19 and falls within the residential zone of the URA Master Plan 2019. The price per square foot on the land area translates to $1,550.
Brilliance Capital, the exclusive marketing agent for the land, reveals that the site is suitable for various types of development, subject to the necessary approvals from the relevant authorities. Prospective buyers can explore the possibility of constructing a detached house, a pair of semi-detached houses, or a strata mixed-landed development.
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Conveniently situated within walking distance from Hougang MRT Station and Hougang Central Bus Interchange, the land is also within a 10-minute drive to popular lifestyle hubs like NEX, Hougang Mall, and Heartland Mall. Families with young children will appreciate the proximity to reputable primary schools such as CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School, all of which are located within a 1km radius of the site.
According to Sammi Lim, founder and executive director of Brilliance Capital, the vacant plot of land is owned by a single seller, making the acquisition process seamless and hassle-free for potential buyers. She expects strong interest from a diverse range of developers, including boutique firms, established players, aspiring developers, and end-users looking to build their dream home.
Lim also notes that it is a rare opportunity for such a versatile land parcel to be made available for sale in the market, catering to different needs and preferences, such as multi-generational living.
Interested parties can submit their offers through the EOI exercise, which will close on March 6 at 3pm.