Executive Condominium North Gaia @ Yishun

The Yishun Executive Condominium (EC) North Gaia site spans 21,514 sq m and has a maximum permissible gross floor area of 60,240 sq m. It can potentially yield about 600 residential units. The parcel is located within 500m of Junction 9, a relatively new neighbourhood mall.

It is the first of three confirmed-list residential sites to be launched for sale under the GLS programme for the first half of 2020.

The other two sites consist of a parcel in Tanah Merah Kechil Link, next to Tanah Merah MRT station, that can yield 310 housing units, and a mixed residential and commercial plot in Jalan Anak Bukit that can accommodate 865 units. The Jalan Anak Bukit site will have a bus interchange with an underground connection to nearby Beauty World MRT station on the Downtown Line.

Although the tender has been launched in the midst of market uncertainties, the new development on the site will likely be launched only one to two years later, by which time the pandemic should be contained.

As a result, more bullish developers to submit bids that are close to the levels before the Covid-19 outbreak. The Yishun site could attract top bids ranging from $500 to $540 per sq ft per plot ratio (psf ppr), or about $324 million to $350 million. It could also garner about seven to 10 bids

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