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URA launched two sites at Lentor – Lentor Gardens under the Confirmed List and Lentor Central under the Reserve List.
Other than Lentor Modern, the rest of the sites launched at Lentor received lukewarm interest from developers.
While the Lentor precinct is shaping up as a private residential enclave with an increase in amenities, the risks are also perceived to be higher with at least three projects to be launched within the next 2 years.
If the Lentor Gardens site is successfully sold, the Lentor precinct will see almost 2,500 units. The Government could potentially push out all 11 parcels in Lentor over the next few years.
The Lentor Gardens site will see not more than 5 bidders and a top bid between $1,050 and $1,150 psf ppr.
It is highly unlikely that the Reserve site at Lentor Central will be triggered. There is a possibility that the Government will move Lentor Central to the Confirmed List of 1H 2023 GLS programme. That is another risk developers have to factor in their bids for Lentor Gardens.
