Keppel Land and its joint venture partner, Wing Tai Land, have been awarded the tender for a prime residential site in Serangoon North Avenue 1 by the Urban Redevelopment Authority (URA) for a total consideration of $446.28 million. The partners plan to develop over 600 homes on the 1.7-hectare site, which is situated within a mature residential estate.
Mr Ang Wee Gee, CEO of Keppel Land, said, “We are pleased to work with a strong like-minded partner like Wing Tai on this prime residential site. We will leverage our extensive experience and strengths as developers of quality homes. We are confident that this new development will see positive demand as there have been few new condominiums launched in recent times in the popular Serangoon Garden area.”
Ms Tan Hwee Bin, ED of Wing Tai Holdings, expressed confidence in the new development, “This project appeals to homebuyers who appreciate the convenience of a central location and the comprehensive amenities of a mature estate, which is being revitalised by the quality and contemporary residences that we shall create for families to grow in a well-loved neighbourhood.”
The 99-year leasehold site is well-connected to other parts of Singapore via the Central Expressway. The Serangoon MRT interchange station, which connects the North-East Line and Circle Line, is also located just a five-minute drive away.
Families with school-going children will appreciate the site’s proximity to reputable educational institutions including Rosyth School, Zhonghua Primary School, Serangoon Garden Secondary School, Peicai Secondary School, Nanyang Junior College, as well as Lycée Français de Singapour (French School of Singapore).
There are a variety of recreational and dining amenities located within the vicinity, including Chomp Chomp Food Centre, Serangoon Food Market and Serangoon Garden Country Club. NEX Shopping Centre, Serangoon Stadium and sports facilities are also just a short drive away.
Under the Ministry of National Development’s Land Use Plan, more recreational options and improved transport connectivity for the Serangoon area have been planned. Besides the existing Bishan-Ang Mo Kio Park, nature lovers can also look forward to the new 17-hectare Serangoon North Linear Park for residents to engage in outdoor recreational activities.