Singapore’s URA Unveils Prime Private Condo Site in Newton Estate for Sale

The Urban Redevelopment Authority (URA) of Singapore has announced the release of a private condo site in the highly sought-after Newton Estate, located in the heart of the city-state. This rare opportunity has sparked excitement among property developers, who are eager to capitalize on the site’s prime location and potential for luxury residential development. The site, which spans approximately 140,000 square feet, is nestled in a tranquil neighborhood surrounded by lush greenery and upscale residences. With a maximum gross floor area of 265,000 square feet, the site offers ample space for a high-end condominium project. The URA’s decision to release this site for sale is part of the government’s efforts to meet the growing demand for private housing in Singapore. The site’s proximity to major transportation hubs, including the Newton MRT station, makes it an attractive location for commuters. Additionally, the site is close to several reputable schools, including the Anglo-Chinese School (Barker Road) and the Singapore Chinese Girls’ School. The Newton Estate is also known for its vibrant community, with a range of amenities, including restaurants, cafes, and shops. The site’s release is expected to attract strong interest from developers, who will be eager to create a luxurious residential project that showcases the best of Singapore’s property market. The URA has set a reserve price for the site, which will be revealed at a later date. The sale of the site will be conducted through a public tender, which is expected to be launched in the coming weeks. The tender process will provide developers with an opportunity to submit their bids, with the site being awarded to the highest bidder. The URA’s release of this prime private condo site is a significant development in Singapore’s property market, which has been experiencing a resurgence in recent months. The site’s potential for luxury residential development is vast, with developers likely to incorporate high-end amenities and features into their projects. The Newton Estate is a highly sought-after location, with a range of upscale residences and a vibrant community. The site’s proximity to major transportation hubs and reputable schools makes it an attractive location for families and professionals. The URA’s decision to release this site for sale is part of the government’s efforts to promote the development of luxury residential projects in Singapore. The site’s release is expected to have a positive impact on the local property market, with developers and homebuyers alike eagerly anticipating the opportunity to create and own a luxurious residence in one of Singapore’s most prestigious neighborhoods. The URA’s commitment to promoting the development of luxury residential projects is evident in its decision to release this prime private condo site. The site’s potential for luxury residential development is vast, with developers likely to incorporate high-end amenities and features into their projects. The Newton Estate is a highly sought-after location, with a range of upscale residences and a vibrant community. The site’s proximity to major transportation hubs and reputable schools makes it an attractive location for families and professionals. The URA’s release of this prime private condo site is a significant development in Singapore’s property market, which has been experiencing a resurgence in recent months. The site’s release is expected to attract strong interest from developers, who will be eager to create a luxurious residential project that showcases the best of Singapore’s property market.

Source