URA launches residential site at Faber Walk for sale

It can yield an estimated 400 units and is expected to clinch up to 3 bidders.

The Urban Redevelopment Authority (URA) is offering a residential site at Faber Walk for sale today under its government land sales (GLS) programme.

The site has an estimated area of 2.58 hectares and can potentially yield 400 residential units, the URA said.

The tender for the Faber Walk site will close at 12NN on 19 November 2024. 

The site is expected to amass up to 3 bidders for this site, with the highest bid price between $750 to $850 psft ppr, said Justin Quek, CEO of OrangeTee & Tie.

Quek noted that the site is within one kilometer of Nan Hua Primary School, which may make it an ideal location for homebuyers who plan to have children. 

However, the site is not within walking distance of many amenities as of yet. It is within driving distance of many locations, as it is close to the upcoming Jurong Lake District, the NUS, and one-north, said Quek,

The estimated 400 residential units it can yield form part of the 5,050 residential units to be released via the confirmed list of the 2H2024 GLS programme, which cater to housing demand.