A prime residential development site located at Jalan Naung has been put up for sale through an expression of interest (EOI) with a price tag of $8.38 million. The land, which is situated off Upper Serangoon Road in District 19, is zoned for residential use in the URA Master Plan 2019. Spanning a total area of 5,408 sq ft and with a 999-year leasehold, the asking price works out to be $1,550 psf on the land area.
The land is being exclusively marketed by Brilliance Capital, and the firm has stated that the site 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 necessary approvals from the relevant authorities. The site is strategically located within walking distance to the Hougang MRT Station and Hougang Central Bus Interchange, making it extremely convenient for residents to travel around Singapore. It is also within a 10-minute drive to popular lifestyle hubs such as NEX, Hougang Mall and Heartland Mall.
In addition, the site is surrounded by reputable schools including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School, all within a 1km radius.
According to Sammi Lim, founder and executive director of Brilliance Capital, the land parcel is owned by a single seller, which helps to streamline the acquisition process and ensures a hassle-free transaction for potential buyers. Lim also anticipates strong interest from a wide range of developers, including boutique firms, larger setups, aspiring developers, and end-users looking to build their dream home.
She also highlights that it is rare for a plot with such versatile development options to be made available for sale in the market, catering to different needs and preferences, including multi-generation development. The EOI exercise for this prime land parcel will close on March 6 at 3pm.