New Reporter
22-01-24, 08:49
Land parcels in Ang Mo Kio, Kembangan earmarked for residential use
Jan 19, 2024
https://i.imgur.com/XPSTn7v.jpg
MORE homes are expected to be built in Ang Mo Kio and Kembangan as the Urban Redevelopment Authority (URA) plans to rezone land parcels there for residential use.
One plot along Ang Mo Kio Avenue 2 is to be rezoned from educational to residential use, with a gross plot ratio of 3.5.
Currently, the former Kebun Baru Primary School sits on the 18,203.6 square metre plot of land. The site is slated for “future high-density residential developments”, URA said on Friday (Jan 19).
The Ang Mo Kio site is very near to CHIJ St Nicholas Girls’ School, with the Mayflower MRT station a short walk away, said Lee Sze Teck, Huttons’ senior director of data analytics.
Analysts expect that it could yield between 600 and 750 condominium units, should the site be set aside for private housing.
The last Government Land Sales site sold nearby was an Ang Mo Kio Avenue 1 plot which is being developed as AMO Residence, noted Wong Siew Ying, PropNex head of research and content.
Eugene Lim, ERA’s key executive officer, said: “Following the successful launch of AMO Residence in July 2022, which sold 98 per cent on launch day at a median price of $2,110 per square foot, we expect strong interest from homebuyers in this area.”
Should the site be offered for public housing, it would likely be under the Plus category, given its proximity to the MRT, said Wong.
She added: “The last Build-To-Order (BTO) project in Ang Mo Kio was Central Weave @ AMK in August 2022, which was heavily oversubscribed – the 896 BTO flats attracted 12,620 applications, reflecting an application rate of 14 times.”
Earlier this month, URA also announced plans to intensify the plot ratio of land parcels along Jalan Kembangan from 2.5 to 3.2.
The proposed amendments will facilitate an upcoming residential development, which includes a new neighbourhood park as well as commercial and recreational amenities, URA said.
Christine Sun, OrangeTee Group’s chief researcher and strategist, noted that if the site is used to construct Housing and Development Board (HDB) flats, they could fall under the Plus category given its location near the Kembangan MRT station. There could be over 400 flats there, she added.
PropNex’s Wong said: “We think there is a high chance for it to be offered as Plus BTO flats to provide diverse housing options in that locale, as there is limited public housing in the Kembangan area.
“The nearby HDB flats in Lengkong Tiga were built in the late 1980s; thus, there would be pent-up demand for public housing here.”
Lim noted that the Chai Chee Green HDB BTO launch in December 2023 can be indicative of the prices to expect for this area. Five-room flats at Chai Chee Green were priced between S$569,000 and S$725,000.
https://www.businesstimes.com.sg/property/land-parcels-ang-mo-kio-kembangan-earmarked-residential-use
Jan 19, 2024
https://i.imgur.com/XPSTn7v.jpg
MORE homes are expected to be built in Ang Mo Kio and Kembangan as the Urban Redevelopment Authority (URA) plans to rezone land parcels there for residential use.
One plot along Ang Mo Kio Avenue 2 is to be rezoned from educational to residential use, with a gross plot ratio of 3.5.
Currently, the former Kebun Baru Primary School sits on the 18,203.6 square metre plot of land. The site is slated for “future high-density residential developments”, URA said on Friday (Jan 19).
The Ang Mo Kio site is very near to CHIJ St Nicholas Girls’ School, with the Mayflower MRT station a short walk away, said Lee Sze Teck, Huttons’ senior director of data analytics.
Analysts expect that it could yield between 600 and 750 condominium units, should the site be set aside for private housing.
The last Government Land Sales site sold nearby was an Ang Mo Kio Avenue 1 plot which is being developed as AMO Residence, noted Wong Siew Ying, PropNex head of research and content.
Eugene Lim, ERA’s key executive officer, said: “Following the successful launch of AMO Residence in July 2022, which sold 98 per cent on launch day at a median price of $2,110 per square foot, we expect strong interest from homebuyers in this area.”
Should the site be offered for public housing, it would likely be under the Plus category, given its proximity to the MRT, said Wong.
She added: “The last Build-To-Order (BTO) project in Ang Mo Kio was Central Weave @ AMK in August 2022, which was heavily oversubscribed – the 896 BTO flats attracted 12,620 applications, reflecting an application rate of 14 times.”
Earlier this month, URA also announced plans to intensify the plot ratio of land parcels along Jalan Kembangan from 2.5 to 3.2.
The proposed amendments will facilitate an upcoming residential development, which includes a new neighbourhood park as well as commercial and recreational amenities, URA said.
Christine Sun, OrangeTee Group’s chief researcher and strategist, noted that if the site is used to construct Housing and Development Board (HDB) flats, they could fall under the Plus category given its location near the Kembangan MRT station. There could be over 400 flats there, she added.
PropNex’s Wong said: “We think there is a high chance for it to be offered as Plus BTO flats to provide diverse housing options in that locale, as there is limited public housing in the Kembangan area.
“The nearby HDB flats in Lengkong Tiga were built in the late 1980s; thus, there would be pent-up demand for public housing here.”
Lim noted that the Chai Chee Green HDB BTO launch in December 2023 can be indicative of the prices to expect for this area. Five-room flats at Chai Chee Green were priced between S$569,000 and S$725,000.
https://www.businesstimes.com.sg/property/land-parcels-ang-mo-kio-kembangan-earmarked-residential-use