Developers’ sales for the week of 29 July 2024 – 4 Aug 2024 were 84 units
The respective top-selling projects in the CCR is Cuscaden Reserve, followed by Grand Dunman in the RCR and Hillhaven and Lentoria in the OCR
Two GLS tenders at Margaret Drive and Jalan Loyang Besar (EC) closed on 1 Aug with Margaret Drive getting a top bid of $1,154 psf ppr and Jalan Loyang Besar (EC) $729 psf ppr
The Margaret Drive site is probably the last plot of land that is within a short 5 mins’ walk to Queenstown MRT station
The last GLS site sold within the vicinity of Queenstown MRT station that was at Stirling Road in 2017 for $1,051 psf ppr
The strong bid for Jalan Loyang Besar (EC) site shows developers’ confidence in EC projects and their willingness to secure EC sites to bolster their land bank
It has been more than 10 years since a parcel of land was sold for EC development in Pasir Ris and there could be potential pent-up upgrading demand for EC
