Residential Land Parcel Jalan Naung Sale 818 Mil
A piece of land at Jalan Naung, suitable for residential development, is currently open for expression of interest (EOI) with an asking price of $8.38 million. According to the URA Master Plan 2019, the land falls under the residential zoning category and is located within a three-storey mixed-landed area. The land, which has a 999-year leasehold, covers a total area of 5,408 square feet. The asking price translates to $1,550 per square foot of the land area.
Brilliance Capital, the sole marketing agent for the land, has stated that the site has the potential to be developed into a detached house, a pair of semi-detached houses, or a strata mixed-landed development, subject to approval from relevant authorities. The land is situated off Upper Serangoon Road in District 19, with Hougang MRT Station and Hougang Central Bus Interchange within walking distance. Popular lifestyle hubs like NEX, Hougang Mall, and Heartland Mall are also just a 10-minute drive away.
The location of the land also makes it highly desirable, as it is within a 1km radius of well-regarded schools such as CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School and Punggol Primary School. With the entire plot of land owned by a single seller, the acquisition process is expected to be streamlined, ensuring a hassle-free transaction for potential buyers.
Sammi Lim, founder and executive director of Brilliance Capital, expects strong interest in the land from various developers including boutique firms, larger setups, aspiring developers, and end-users looking to build their dream home. She also notes that it is rare for such a plot of land to be made available for sale, especially one that offers multiple options for development, catering to different needs and preferences, including multi-generation development.
The highly anticipated Tampines North MRT Station on the Cross Island Line (CRL) is set to provide convenient access to key destinations such as the central business district, Jurong Lake District, and Changi Airport. Alongside this, upgraded bus networks and cycling paths will further enhance transportation within Tampines and its neighboring areas, encouraging eco-friendly modes of commuting. With the addition of the new Parktown Residence Condo, residents can enjoy seamless connectivity and sustainable travel options.
Interested parties can submit their bids for the land parcel via the EOI exercise, which will close on March 6 at 3pm.