A residential development site along Jalan Naung, with a total area of 5,408 sq ft and a 999-year leasehold, has been listed for sale through expression of interest (EOI) with an asking price of $8.38 million.The land, which falls under the residential zoning category in URA Master Plan 2019, is situated in a mixed-landed area with a three-storey height restriction. The land is off Upper Serangoon Road in District 19.According to Brilliance Capital, the sole marketing agent for the land, the potential development options for the site include a single detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approvals from the relevant authorities. The asking price of $8.38 million translates to $1,550 psf on the land area.The location of the site is highly desirable, with Hougang MRT Station and Hougang Central Bus Interchange within walking distance. NEX, Hougang Mall and Heartland Mall, popular lifestyle hubs, are all just a 10-minute drive away.Schools in the vicinity within a 1km radius include CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School. This makes the site an ideal location for families with young children.Brilliance Capital points out that the vacant plot of land is owned by a single seller, which will streamline the acquisition process and ensure a smooth transaction for potential buyers. Sammi Lim, the founder and executive director of Brilliance Capital, is confident that the site will attract strong interest from a variety of developers, from boutique firms to larger setups, as well as aspiring developers and end-users looking to build their dream home.She says, “It is rare to come across such a versatile land parcel on the market, offering multiple development options to cater to different needs and preferences, including multi-generation development.” The EOI exercise for the land parcel will close on 6th March 2021 at 3pm.