Huttons’ comments on Pine Grove GLS reserve sites

The two sites are located in a private residential enclave with popular primary schools like Henry Park and Pei Tong within a 1km radius. It is very near to Clementi Forest, a nature area for avid hikers.

While the sites will provide developers a decent number of units for sale, the chances of being triggered for sale are not high in our view. There are better sites on the Confirmed List such as Jalan Tembusu and upcoming enbloc sites which will satiate developer’s appetite for land. There may be more sites under 1H 2022 GLS programme which will be announced in Dec 2021.

If the sites were to be triggered, the eventual sale price may be between $1,000 and $1,200 psf ppr. This may set the benchmark for enbloc hopefuls in the vicinity.