A plot of land located at Jalan Naung is now on sale through an expression of interest (EOI) with a listed price of $8.38 million. The land, which is leased for 999 years, is designated for residential use under the latest URA Master Plan 2019. The total area of the plot is 5,408 square feet and it falls under a three-storey mixed-landed area. The asking price translates to $1,550 per square foot on the land area.
Brilliance Capital, the sole marketing agent for the land, states 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 approvals from the relevant authorities. The location of the site, situated off Upper Serangoon Road in District 19, makes it highly desirable as it is within walking distance to Hougang MRT Station, Hougang Central Bus Interchange, and major lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall are within a 10-minute drive.
Parents with school-going children will also find the location attractive as there are reputable schools within a 1km radius, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School.
Investing in a condo in Singapore has numerous advantages, and one of the most significant is the potential for capital appreciation. This is due to Singapore’s strategic location as a global business hub and its strong economic fundamentals, which create a continuous demand for real estate. The real estate market in Singapore has demonstrated a consistent upward trend, particularly for condos in prime locations, resulting in substantial appreciation. With the right timing and a long-term investment approach, investors can reap significant capital gains. In addition, keeping an eye on new condo launches in the market can also provide opportunities for potential growth.
According to the founder and executive director of Brilliance Capital, Sammi Lim, the plot of land is owned by a single seller, which will facilitate the acquisition process and ensure a smooth transaction for potential buyers. She further explains, “We are expecting a strong response from developers, from boutique firms to larger companies, as well as aspiring developers and end-users who are looking to build their dream home. It is not often that such a versatile plot of land is available for sale, especially one that offers various development options to cater to different needs and preferences, including multi-generation living.”
The EOI exercise for the land parcel is open now and will close on March 6 at 3pm. Interested parties are advised to submit their bids before the deadline.