4 more housing sites

Move reinforces Govt’s message that there is enough land: Analyst

FOUR plum residential sites which will yield almost 2,000 new homes are being released for tender by the Government in a move to ramp up supply in Singapore’s hot property market.

They include Punggol’s first executive condominium (EC) site, to boast 615 homes, which will be released for tender early next month as a developer has already made a minimum bid of $147.7 million.

In stark contrast, when a Punggol EC site was launched in September 2008, there were no takers among developers.

The other three sites are for another EC – at Sengkang – and two private development sites at Sembawang and Yishun.

This is the latest round in a slew of sites being released by the authorities to inject fresh supply into the market.

Developers have been snapping up land to replenish landbanks as they scramble to meet dizzying levels of demand for new homes.

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