SINGAPORE: A planned 38-hectare private housing estate in Ang Mo Kio could prove to be a hit with property buyers.
This is according to some property analysts who noted that there are now few locations near the city and in mature estates available for new landed housing.
The area - bordered by Tagore Road, Lentor Drive and Yio Chu Kang Road - is just a forested place now but the plan is to turn it into a new private housing estate, which will be located near the future Lentor MRT station.
It's part of plans to rejuvenate Ang Mo Kio town.
The Urban Redevelopment Authority (URA) said there will be high-rise, medium-rise and landed housing options alongside parks and a variety of amenities.
Other plans in the pipeline include a mixed-use development next to the new MRT station.
The development of the area will be phased in tandem with the opening of the new MRT station, which is expected to be around 2020.
Nicholas Mak, executive director of research and consultancy at SLP International Property Consultants, said: "Many of the vacant sites that can be developed into landed housing are either quite far from the city centre, in locations like Sembawang or somewhere in the northwest part of Singapore.
"(The area bordered by Tagore Road, Lentor Drive and Yio Chu Kang Road) is a rather unique location in that it's on the outskirts of Ang Mo Kio and potentially part of it can be carved out for landed housing development. It would also be one of the very few new landed housing developments located near a new MRT station." - CNA/ir
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