A site for residential development at Jalan Naung has recently been put on the market for sale through an expression of interest (EOI) with an asking price of $8.38 million. This prime location falls within the residential zone of the URA Master Plan 2019 and is situated in a three-storey mixed-landed area. The 999-year leasehold land parcel, covering a total area of 5,408 sq ft, is located off Upper Serangoon Road in District 19. At $1,550 psf on the land area, the asking price is highly attractive.
According to Brilliance Capital, the sole marketing agent for the land parcel, its potential for development is vast. Depending on approvals from the relevant authorities, the site could be transformed into a single detached house, a pair of semi-detached houses, or a strata mixed-landed development.
In addition to its great location, the site offers convenient access to various amenities. It is within walking distance of Hougang MRT Station and Hougang Central Bus Interchange, making it easily accessible by public transport. Shopping hubs such as NEX, Hougang Mall, and Heartland Mall are all within a 10-minute drive. The site is also 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.
The land is owned by a single seller, which is expected to streamline the acquisition process and ensure a smooth and hassle-free transaction for potential buyers. Brilliance Capital predicts strong interest from a diverse range of developers, from boutique firms to larger establishments, as well as aspiring developers and end-users looking to create their dream home.
Brilliance Capital’s founder and executive director, Sammi Lim, expresses excitement about this rare opportunity in the market. She believes that the site’s various development options cater to the needs and preferences of different individuals, including those looking for multi-generation developments.
Interested parties can participate in the EOI exercise for this land parcel until March 6 at 3pm.