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SINGAPORE (Feb 2): A 1.59 ha land parcel which is in the 1H2016 Government Land Sales (GLS) Confirmed List located at Martin Place offers an attractive proposition to developers, said DTZ Debenham Tie Leung (SEA) Pte Ltd in a press statement today.
The land, located in the prime District 9, is in close proximity to River Valley Primary School and can yield about 445 apartments.
DTZ research head Dr Lee Nai Jia said future supply of residential property in prime districts is scarce and such sites will be hard to come by.
“Using recent transactions in the vicinity as a gauge, we anticipate the winning bid to be around S$450m, or S$940 psf per plot ratio,” she said.
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