Housing and Development Board (HDB) to release 2 Executive Condominium sites
Are you interested in buying an Executive Condominium?? If yes then you have very good news because for more development in Singapore the Housing and Development Board has declared that two Executive Condominium (EC) sites are for sale and it is mentioned in the confirmed list of the 2010 Government Land Sales Program. These two housing units are very important because these will offer property buyers more housing choices and better places to live. HDB also mentioned that these sites are available on a 99-years lease.
Before going to the mentioned EC sites it would be better to know about the background of HDB and what an Executive Condominium is.
The Housing and Development Board (HDB) is a legislative board of the Ministry of National Development in Singapore and it is responsible for public housing. Singapore faced a serious problem of housing shortage just after its independence. In response, the government made Housing and Development Board. Due to high density of population HDB decided to make flats in the country. More than 80% of Singapore population lives in HDB flats, means almost all the housing development in Singapore is done or monitored by HDB.
Condominium can simply be defined as an “apartment” that the resident “owns” rather than rents and executive condominiums are for those young graduates and professionals who want a better place than HDB flats. In other words ECs are luxurious condominium.
Now going towards the sites, the first new EC site which was mentioned by HDB is located in Tampines Town. It site has an area of more than 20,000 square meters and its gross floor area would be more than 57,000 square meters. Tampines Town is the largest residential area of Singapore and is located in the East Region of the main island. Like other districts in Singapore, it is a densely populated district and home to different group of different races. Many facilities such as schools, supermarkets and swimming complex are available near this site. The tender for this site will be closed at noon on November 23.
The second Executive Condominium is located in Bukit Panjang Town; Bukit Panjang Town is present in the west of Singapore . A portion of this town is situated on a low lying and extended hill, this site is next to Segar LRT station, which connects to Choa Chu Kang MRT station. The area of this site almost 21,000 square meters and its gross floor area is around 62,5000 square meters. The tender for this site will be closed at noon on December 2.
In addition to these two sites, HDB said two new residential sites at Punggol Central and Seletar Road are also going to be released later this month. Seletar is an area of Singapore within its north east region and Punggol is also a very important area of Singapore. So hopefully leasing of these sites will be the first step for those young Singaporeans who want to have good and separate residence in important areas of the country.
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