A land parcel at the junction of Sengkang Square and Compassvale Road has been awarded to Keppel Land Limited (Keppel Land) after it emerged the highest bidder in a public tender that closed on 15 March.
Keppel Land’s highest bid of S$286.8 million for the 99-year leasehold site comes after the successful launch of The Lakefront Residences, which sold 90 percent of the 590 units released.
“Keppel Land is looking forward to lend our expertise and experience to develop a well-planned and executed development at Sengkang,” said Mr. Augustine Tan, President (Singapore Residential) of Keppel Land.
The land site, which was made available for sale on 20 January 2011, has a land area of 17,700 sq m with a maximum gross floor area (GFA) of 53,100 sq m and a gross plot ratio of 3.0. It is proposed for condominium development and could yield up to 530 units.
The site is situated in the popular northeastern region of Singapore, which includes Hougang, Punggol, Sengkang and Serangoon. With the areas total population of more than 465,000, Keppel Land expects keen interest from upgraders from nearby HDB estates as well.
“The hallmark quality associated with the Keppel brand has attracted a loyal following of homebuyers and we are confident that the new development, with its strong attributes and value propositions, will see positive demand from genuine home purchasers.”
When the new development is completed in early-2015, Keppel Land said it will yield approximately 630 homes, with sizes ranging between 450 and 2,200 sq ft, including one- to four-bedroom configurations, as well as penthouses.
