Families to be interested in Clementi Avenue 1 and Pine Grove sites

But developers continue to be cautious about high costs.

Possible future developments at Clementi Avenue 1 and Pine Grove sites will catch the attention of families due to their proximity to schools, according to property experts.

But Huttons Asia said developers continue to be cautious in their land bids due to high prices.

“The two sites are very close to each other, increasing the chances of overlap in catchment areas. Developers with a need to replenish their land bank may tender for these sites,” said Huttons Asia.

There may be up to three bidders and the top bid could be between $900 and $1,000 psf ppr for Clementi site, said Huttons Asia.

The strong rentability of the future project may also attract investor interest at Clementi Avenue, said OrangeTee.

“Given that the site can yield around 500 units and the land cost is likely to be palatable, we expect healthy demand from developers,” it added.

There are also a few projects in the area, boosting pent-up demand for new private homes in this area, said OrangeTee.

OrangeTee also sees there could be between four to seven bidders, with the highest bid price at around $1,100 to $1,200 psf ppr.

Pine Grove

The Prine Grove (Parcel B) 2.50 ha-site can yield about 565 units. It is situated on Parcel A or Pinetree Hill which was launched recently. OrangeTee said Pinetree Hill can be considered a rival but it has already been launched, said the property expert.

“The time gap between both project launches will ensure that there will be sufficient demand to sustain sales at both sites. Supply will also continue to be limited in the Ulu Pandan area,” said OrangeTee, adding that it sees three to five bidders for the site, with the top bid ranging from $1,150 to $1,250 psf ppr.

Huttons said the site is also near Clementi Forest, a nature area for avid hikers. It sees around three bidders for the site, with the top bid hitting $1,200 psf ppr.

Follow the link s for more news on

Huttons Asia

OrangeTee

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia