Three sites to watch | Singapore Property News

Three sites to watch

19 December
Property News
Three sites to watch


Fans of the recently closed Zouk nightclub might be able to keep memories of the hot spot alive.

The nightclub site was put on the reserve list on Friday (16 Dec), and analysts say it is very likely that developers will pull the trigger.

Mr Ong Kah Seng, director of R'ST Research, said he expected the plot to be triggered because it is "such a prime city-fringe site".

"It enjoys unique, high-profile positioning due to the illustrious memory of Zouk," he said, adding that "buyers of private homes there might include the ardent, wealthy patrons of Zouk who may wish to have a nostalgia-type stake in the locality that Zouk was in."


The reserve list site is right on top of the Sixth Avenue MRT station

Ms Tricia Song, head of research for Colliers International Singapore, described it as the most attractive plot on the reserve list in terms of size and location.

The site is off Bukit Timah Road and is expected to yield about 455 units.

She also noted that there were no new residential launches in the area recently, unlike places such as Jiak Kim Street, which will have to contend with the Martin Place plot nearby that was sold in July.


Analysts said this parcel would likely receive the strongest interest due to its proximity to Bidadari, an up-and-coming estate with overwhelming buyer response.

Mr Alan Cheong, Savills Singapore's head of research, added that the area is set to be rejuvenated as several projects have been rolled out in the area.

The nearby Raintree Gardens was sold last month via collective sale. The National Aerated Water Company sold its plot of land, which is in the area, to a Malaysian developer earlier this month. Two more sites in the area are expected to be launched by the first half of next year. "With this sequential rolling out of projects in the area, both land and unit sale prices will at the very least be maintained, but more likely elevated," he said.

The Straits Times



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