{"id":104525,"date":"2019-03-01T10:56:50","date_gmt":"2019-03-01T03:56:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-site-launched-for-sale-could-yield-640-homes\/"},"modified":"2019-03-01T11:03:54","modified_gmt":"2019-03-01T04:03:54","slug":"clementi-site-launched-for-sale-could-yield-640-homes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-site-launched-for-sale-could-yield-640-homes\/","title":{"rendered":"Clementi site launched for sale, could yield 640 homes"},"content":{"rendered":"


\nLocated adjacent to The Clement Canopy, the site is easily accessible to Jurong Lake District and the CBD.
\nA private residential site at Clementi Avenue 1 that could potentially yield a maximum of 640 housing units was launched for sale via public tender, revealed the Urban Redevelopment Authority (URA) on Thursday (28 Feb).
\nWith a land area of about 178,064 sq ft, the 99-year leasehold site has a gross floor area (GFA) of about 623,230 sq ft. It is a confirmed list site under the Government Land Sales (GLS) Programme.
\nMore:\u00a0Govt Launches Three Sites Yielding 700 ECs, Over 1,300 Private Condos
\nThe site is also accessible via Clementi Road and Ayer Rajah Expressway, allowing future residents to easily travel to Jurong Lake District and Singapore\u2019s central business district (CBD).
\nAside from being close to Clementi MRT station, The Clementi Mall and Clementi Sports Hall, the site is near Nan Hua High School, International Community School and the National University of Singapore (NUS), as well as NUS High School of Mathematics and Science.
\n\u201cThe site at Clementi is in a mature estate with plenty of amenities and good schools. There is potential demand from upgraders and investors,\u201d said Huttons Asia\u2019s research head Lee Sze Teck, who is expecting five to eight bidders, with the top offer ranging from $800 to $850 psf per plot ratio (psf ppr).
\nAs for Colliers International\u2019s Singapore research head, Tricia Song, she thinks that the site could attract four to six bidders. \u201cWe estimate the top bid could potentially come in at $520 million or $830 psf ppr. This could put the potential average selling price at $1,400 psf.\u201d
\nMoreover, she said the 640-unit limit reflects URA\u2019s minimum average unit size of 85 sq m (915 sq ft). The winning bidder is also required to provide a childcare centre for at least 10 years from the date of obtaining the Certificate of Completion and Compliance.
\nWhile Song believes the site would see fewer bids than the Kampong Java private residential site that closed in January as the Clementi plot is bigger, Huttons\u2019 Lee is more upbeat.
\nThis is because the adjacent development, The Clement Canopy, sold all of its units by January 2019 at an average selling price of $1,374 psf since launching in February 2017.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Clementi site launched for sale, could yield 640 homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located adjacent to The Clement Canopy, the site is easily accessible to Jurong Lake District...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104525","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rbT","jetpack-related-posts":[{"id":92777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-sites-totalling-1920-homes-released\/","url_meta":{"origin":104525,"position":0},"title":"Four sites totalling 1,920 homes released","date":"June 29, 2018","format":false,"excerpt":"\r View of the residential site in Clementi Avenue 1. (Photo: URA) The Urban Redevelopment Authority (URA) and the Housing and Development Board (HDB) on Thursday (28 June) launched two confirmed list sites for sale under the second half 2018 Government Land Sales (GLS) programme. One is a 153,223.19 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30961,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eye-on-clementi-east-of-the-west\/","url_meta":{"origin":104525,"position":1},"title":"Eye on Clementi: East of the West","date":"October 21, 2016","format":false,"excerpt":"\r The Casa Clementi precinct made the news in June when a five-room flat there was sold for $960,000. Source: BCA To some, Clementi is an older town offering little beyond public housing and kopitiams. Yet it is seeing continual growth and change, promising new and exciting things for its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/10\/EO10601.png?fit=527%2C363&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":43595,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-highly-anticipated-condos-to-launch-in-coming-weeks\/","url_meta":{"origin":104525,"position":2},"title":"Two highly anticipated condos to launch in coming weeks","date":"February 10, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Grandeur Park Residences, a new condominium in the east. Source: CEL Development\u00a0 Following the Chinese New Year lull period, developers are gearing up to launch two private residential projects in Singapore. One of them is The Clement Canopy, the first condominium to be launched this year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-avenue-site-attracts-5-bids-canberra-link-site-gets-8\/","url_meta":{"origin":104525,"position":3},"title":"Clementi Avenue site attracts 5 bids, Canberra Link site gets 8","date":"July 4, 2019","format":false,"excerpt":"\r The tenders for a residential site at Clementi Avenue 1 and an executive condominium (EC) site at Canberra Link attracted healthy interest from developers with five and eight bids received, respectively. A consortium comprising units of UOL Group and United Industrial Corporation (UIC) submitted the top bid of $491.3\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":129306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landslide-damage-unlikely-to-delay-key-collection-at-clementi-bto-project-hdb-launches-4993-flats-during-august-2022-bto-launch-and-more\/","url_meta":{"origin":104525,"position":4},"title":"Landslide damage unlikely to delay key collection at Clementi BTO project, HDB launches 4,993 flats during August 2022 BTO launch, and more","date":"September 5, 2022","format":false,"excerpt":"\r Landslide damage unlikely to delay key collection at Clementi BTO project, HDB launches 4,993 flats during August 2022 BTO launch, and more30th\u00a0August to 5th September 2022 While the damage caused by a landslide that occurred near the construction site of a Clementi Build-to-Order (BTO) project is \u201cfairly extensive\u201d, Member\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/09\/pang-sua-hdb-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/clementi-flat-hits-the-market-for-968000\/","url_meta":{"origin":104525,"position":5},"title":"Clementi flat hits the market for $968,000","date":"July 11, 2016","format":false,"excerpt":"\r View of HDB blocks at Casa Clementi. 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