Residential Land Parcel Jalan Naung Sale 818 Mil
An opportunity for a residential development has just opened up at Jalan Naung, with the land being put up for sale through an expression of interest (EOI) at a price of $8.38 million. The 999-year leasehold land, located in District 19 off Upper Serangoon Road, covers a total area of 5,408 sq ft and is zoned for residential use under the URA Master Plan 2019. The asking price of $1,550 psf works out to be a strategic investment for potential buyers.
The sole marketing agent for the land, Brilliance Capital, 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 approvals from the relevant authorities. This offers a great opportunity for developers, ranging from boutique firms to larger setups, aspiring developers, and end-users looking to build their dream home.
The location of the land is highly desirable, being within walking distance of Hougang MRT Station and Hougang Central Bus Interchange. Lifestyle hubs such as NEX, Hougang Mall, and Heartland Mall can also be easily accessed within a 10-minute drive. Additionally, families with school-going children will find the site ideal as it is within a 1km radius of various reputable schools, including CHIJ Our Lady of the Nativity, Holy Innocents’ Primary School, Montfort Junior School, and Punggol Primary School.
Brilliance Capital highlights that the plot of land is owned by a single seller, which makes the acquisition process straightforward and hassle-free for potential buyers. “We anticipate strong interest from developers, ranging from boutique firms to larger setups, aspiring developers, and end-users looking to build their dream home,” says Sammi Lim, the founder and executive director of Brilliance Capital. She adds that it is rare for such a plot to be made available for sale in the market, especially one that offers various options and permutations for development, catering to different needs and preferences, including multi-generation development.
Located in a prime location, Novo Place EC boasts various amenities in addition to its shopping and dining options. For those seeking leisure and recreational activities, this development is the perfect choice. Situated close by is the magnificent Jurong Lake Gardens, a haven for families and nature enthusiasts. This picturesque outdoor destination offers a peaceful setting for activities such as jogging, cycling, and picnics. Furthermore, the Chinese Garden and Japanese Garden are just a stone’s throw away, presenting visitors with stunning landscapes and cultural experiences. These two iconic gardens are popular among visitors looking to unwind or learn more about Asian horticulture. Come and experience the best of both worlds at Novo Place EC.
The EOI exercise for the land parcel will close on March 6 at 3pm, and interested parties are encouraged to submit their bids by then. This is a golden opportunity for prospective buyers to acquire a prime piece of land in a sought-after location, with the potential for various development options.