The tender deadline for EC plot at Choa Chu Kang Ave 5 has been pushed back due to a new condition imposed by HDB. In an amendment issued on June 15, HDB said that the development built on the plot will have to be set back at least 15m from the line of road reserve along Choa Chu Kang Ave 5. This is to maintain the quality of the streetscape. The tender for the site, which allows for the building of ECs which are a public and private housing hybrid, will now close on July 28. The land parcel has a site area of 16,386.1 sqms with gross plot ratio not exceeding 3.0. The 99-year leasehold site can yield about 490 residential units. Analysts were lukewarm about the site when it was launched in May, citing limited amenities and its distance about 1.8 km from Choa Chu Kang MRT station. JLL national director Ong Teck Hui said then that bidders for the site would take into account the slow sales for most EC projects launched since late last year. Property consultants polled then said they expected the site to fetch between three and seven bids. Their forecast for the top bid was in the S$250 to S$330 psf ppr range.... Continue Reading