Everything You Need to Know About the Pasir Ris 8 Land Parcel Site
As a part of the Pasir Ris Masterplan, the Pasir Ris Central land parcel was awarded by the Housing & Development Board (HDB) to Phoenix Residential Pte Ltd and Phoenix Commercial Pte Ltd, the developer for the upcoming Pasir Ris 8, mixed development project. This 38,003.7 metre square site area was marked as a key focal point for rejuvenating Pasir Ris town.
Located right next to Pasir Ris MRT as well as the popular Pasir Ris Town Park, this development will serve as a critical part of URA’s masterplan to refresh the town with vibrant activities and amenities.
In total, there were three bids for this 99-year leasehold plot of land which closed on 14 Dec 2018. The winning bid was almost $700 million which effectively works out to $648.48 per square foot per plot ratio. The second highest bid by a subsidiary of Far East Organization came to nearly $677.78 million. The land parcel bid plays a critical role for interested condo buyers of Pasir Ris 8 as it gives a gauge of the expected condo unit prices during the launch weekend.
The current released details of this land parcel informs us that the maximum permissible gross floor area is 95,010 metre square with a maximum building height of 49 to 53 m above mean sea level (AMSL). Thus, the estimated number of housing units we can expect from this mixed development is about 600 units.