Government land site in Tanah Merah could see healthy demand despite Covid-19 pall

Government land site in Tanah Merah could see healthy demand despite Covid-19 pall

The Edge Singapore, 28 May 2020, Thu  

By Cecilia Chow

The government launched a private residential site at Tanah Merah Kechil Link for sale by tender on May 28. It is located between two existing private condominiums, namely the 582-unit Urban Vista, which was completed in 2016; and the 297-unit Optima@Tanah Merah, which was completed in 2012. Both projects are also 99-year leasehold residential developments built on government land sale (GLS) sites.

The latest site at Tanah Merah Kechil Link is the second residential site offered on the Confirmed List of the 1H2020 GLS programme. The first was an executive condo (EC) site in Yishun which could be developed into a 600-unit project, and was launched at the end of April.

The Tanah Merah Kechil site can be developed into a residential project with some 265 units, which is fewer than the 310 residential units which was the initial estimate when the site was first announced in December 2019, says Nicholas Mak, head of research & consultancy at ERA Realty. Besides residential, the site has a commercial component with another 2,000 sq m (21,529 sq ft) of space on the first level. Given the site’s proximity to the Tanah Merah MRT Station and the surrounding condominium developments, it is likely to be used for shops and F&B outlets, notes Mak.

Read more at: https://www.edgeprop.sg/property-news/government-land-site-tanah-merah-could-see-healthy-demand-despite-covid-19-pall