Analysts expect keen competition, given better market sentiment and the blockbuster sales at High Park Residences. The project had sold 1,169 out of 1,186 units when they were released in July last year. As of last month, only 26 out of 1,390 units remained unsold.
Located near Thanggam LRT station and amenities including Sengkang Riverside Park and The Seletar Mall, this land site could yield about 605 private apartments.
Most of the condominium units near the Fernvale Road site were transacted at prices ranging between $970 psf and $1,060 psf, based on sales in the first seven months of the year. Property consultancy Edmund Tie & Company said URA Realis data showed the average unit price at High Park Residences was about $988 psf.
"The launch of this tender is timely as it provides a window of opportunity for developers to shore up their land banks... Competition will be keen, especially from developers who have not been awarded any residential sites for the past few tenders," said Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia.
The tender closes at noon on Sept 27.