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URA Releases Two GLS Sites at Holland Drive and De Souza Avenue
The Urban Redevelopment Authority (URA) has strategically released two GLS sites at Holland Drive and De Souza Avenue as part of the 2nd half 2023 (2H2023) Government Land Sales (GLS) Programme. These sites, available for application under the Reserve List, have sparked considerable interest in the real estate market.
Two GLS Sites at Holland Drive and De Souza Avenue Details
Holland Drive Site
- Area: 12,386.8 sqm
- Max GFA: 58,218 sqm
- Estimated Units: 680
- Leasehold: 99 years
De Souza Avenue Site
- Area: 19,245.2 sqm
- Max GFA: 30,793 sqm
- Estimated Units: 355
- Leasehold: 99 years
Analyzing Holland Drive – A Prime District 10 Opportunity
Key Insights:
- Potential Yield: The Holland Drive site, poised to yield 680 units, presents a lucrative opportunity.
- Land Price Dynamics: Potential bid prices exceeding $1 billion may deter immediate sales.
- Market Considerations: Cooling measures impacting foreign demand and site characteristics may influence bidder interest.
Location Advantage:
Situated in prime District 10, adjacent to amenities at One Holland Village, and within walking distance to Holland Village MRT station, the site boasts a strategic location.
Unraveling De Souza Avenue – Overcoming Challenges for Success
Challenges and Opportunities:
- Location Challenges: De Souza Avenue, with 355 homes, faces challenges due to its distance from an MRT station. A better choice in the area will be The Myst or The Reserve Residences
- Quantum Dynamics: Possibility of a sale exists if the quantum stays below $500 million.
- Development Potential: Despite challenges, the site’s 207,154 sq ft land can be developed into a 335-unit residential project.
Comparative Analysis:
Analyzing the last GLS residential site in the De Souza area and its bid dynamics provides valuable insights.
Additional GLS Reserve List Sites – A Market Overview
Other Reserves:
- Tampines Street 95: An executive condo parcel.
- Zion Road (Parcel B): A potential 605-unit plot.
Analysts’ Insights:
Analysts predict a low probability of triggering tenders in the next six months due to sufficient supply and a lack of appealing suburban sites.
Frequently Asked Questions
1. When were the GLS sites released?
The GLS sites at Holland Drive and De Souza Avenue were released under the 2H2023 GLS Programme by URA.
2. What are the challenges faced by the De Souza Avenue site?
The De Souza Avenue site faces challenges due to its distance from an MRT station, impacting its market appeal.
3. Are there other reserve-list sites released?
Yes, there are additional sites like an executive condo parcel in Tampines Street 95 and Zion Road (Parcel B) on the reserve list.
In Conclusion
As the real estate landscape evolves, the release of these GLS sites provides a fascinating glimpse into the market dynamics. Stay tuned for updates on how these developments impact projects like 32 Gilstead Road Condo, promising a compelling narrative in the Singaporean real estate saga.
