A prime residential site situated at Jalan Naung has been listed for sale through an expression of interest (EOI) with an asking price of $8.38 million. The attractive plot of land, which spans 5,408 sq ft and holds a 999-year leasehold, is located off Upper Serangoon Road in District 19. As per the URA Master Plan 2019, the site falls under the residential zoning within a three-storey mixed-landed area. The asking price translates to approximately $1,550 per square foot (psf) based on the land’s area.
According to Brilliance Capital, the sole marketing agent for the property, the land has the potential to be developed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to obtaining the necessary approvals from the relevant authorities. The site is conveniently situated within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Moreover, the vicinity also offers various lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall, all within a 10-minute drive.
For families with school-going children, the location is ideal as it falls within a 1 km radius of CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School.
Brilliance Capital expects a strong response from developers, ranging from boutique firms to larger corporations, as well as aspiring developers and end-users looking to build their dream home. The founder and executive director of Brilliance Capital, Sammi Lim, stated, “It is a rare opportunity for such a desirable piece of land to be available for sale, particularly one that offers various development options to cater to different preferences and needs, including multi-generational living.”
The property is owned by a single seller, which streamlines the acquisition process and ensures a hassle-free transaction for potential buyers. The EOI exercise for the land parcel will close on March 6 at 3pm. Interested parties are urged to submit their bids before the deadline.