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About Forest Woods

Forest Woods at Lorong Lew Lian is an upcoming new condominium development by City Developments (CDL) and joint venture partners Hong Leong Holdings and TID.

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forest-woods-at-lorong-lew-lian-by-CDL

The plum site in Lorong Lew Lian attracted a bumper crop of l1 bids as developers moved to replenish their land banks in the light of fewer state plots going on the market.

The 99-year leasehold Forest Woods in Lorong Lew Lian sits on about 150,700 sq ft and has a maximum permissible gross floor area of about 452,138 sq ft.

Forestwood-Residences-location-map

In a statement on Nov 5, CDL highlighted Forest Woods’ proximity to the Serangoon MRT station, an interchange station, and other amenities.

Convenience

“Reputable schools in the vicinity include Paya Lebar Methodist Girls’ Primary and Secondary schools, Maris Stella High and Nanyang Junior College,” it said.

Forest Woods will consist of 7 blocks of 12-storey condo project with 519 units.

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“Apartments on the higher floors will enjoy good views across the landed housing enclave. CDL is familiar with the precinct and has confidence in the potential of the site, having jointly developed the fully-sold 702-unit Bartley Residences and the 99 per cent sold 868-unit Bartley Ridge.”

Mr Nicholas Mak, executive director of Research & Consultancy at SLP International Property Consultants, said the number of bids indicated healthy demand from developers.

“One possible reason for the relatively high number of bids is the attractive location of this land parcel in the North-East region. It is near the Serangoon MRT Station, which is an interchange station, and the NEX mall, which is a regional shopping mall,” he said.

NEX (1)

“Furthermore, some developers may wish to replenish their land banks given the more subdued markets and the absolute price quantum of this land parcel might be within a range of quite a few large-sized developers and consortiums,” he added.

The healthy take-up rate at the recently launched High Park Residences and Botanique at Bartley may also have encouraged developers, said R’ST Research director Ong Kah Seng.

Mr Desmond Sim, CBRE research head for Singapore and South-east Asia, said developers would also have the benefit of time to bank on any market recovery.

“At the same time, they can benefit from the strong development pipeline along the North East and Circle lines, including the Bidadari housing estate,” he added.

Register Now For VVIP Preview & Discounts!! 

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Source: Straits Times Nov 5, 2015; TODAY Nov 5, 2015; Business Times, Nov 5, 2015.

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