Upcoming New Condo Developer Sale at Bukit Timah Link and Hillview Rise. Two residential Government Land Sale (GLS) sites at Bukit Timah Link and Hillview Rise have been launched for sale via tender, according to a media release by the URA on Aug 31. The two sites are under the Confirmed List for the 2H2022 GLS Programme and can yield about 495 residential units.
The site at Bukit Timah Link has an area of 49,633 sq ft and a maximum building height of 20 storeys. The 99-year leasehold site can yield approximately 160 units, with a maximum gross floor area (GFA) of 148,908 sq ft.
The site is located next to Beauty World MRT Station on the Downtown Line, and various malls such Beauty World Centre, Beauty World Plaza and Bukit Timah Shopping Centre are close by.
Lee Sze Teck, senior director (research) at Huttons Asia, anticipates that the site at Bukit Timah Link will attract interest from small to mid-sized developers, given that its small size will result in “a very palatable quantum below $200 million”. He expects up to 10 bidders for the site and a top bid between $1,200 and $1,300 psf ppr.
Nicholas Mak, head of research & consultancy at ERA Realty Network, believes that the mixed-use development at the Jalan Anak Bukit site, which includes an estimated 700 residential units, could provide competition for the future development at the Bukit Timah Link plot. “This could deter some developers from bidding in the tender for this site,” he says.
Nonetheless, he also highlights that other upcoming comparable condos in the area, which include Mayfair Gardens, Mayfair Modern, Verdale and Forett at Bukit Timah, are either fully sold or close to fully sold. “Hence, the good news for potential bidders for this site is that the launched condominium projects in the vicinity would not pose any competition by the time the new project is launched, probably sometime in 1H2024,” he says.
Mak expects between six and nine bidders for the site with the top bid ranging from $1,365 to $1,408 psf ppr.
Things you might want to know more about New Condo at Bukit Timah Link District 21.
Bukit Timah Link Brochure
Bukit Timah Link Showflat
Bukit Timah Link Location
Bukit Timah Link Price PSF
Bukit Timah Link Floor Plan
Bukit Timah Link Developer Sale
Bukit Timah Link VIP Preview
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