The sites are within walking distance from the recently opened Canberra MRT station on the North South Line.
Units in nearby comparable private projects such as Eight Courtyards (launched in 2014) and Canberra Residences (released in 2013) have sold for $900 to $1,000 per square foot (psf) this year, said Ms Song. The most recent land tender was an executive condo (EC) site in Canberra Link, awarded last month for $233.89 million or $566.1 psf per plot ratio (ppr) to MCC Land over seven other bidders.
"With the Canberra MRT station operational since Nov 2, we expect Parcel A and B to fetch top bids of $135 million and $280 million respectively, which works out to a land rate of $670 psf ppr. Developers could look to sell at an average price of $1,250 psf," Ms Song added.
Both tenders will close at noon on March 3. The tender closing will be batched with an EC site at Fernvale Lane, which will be launched for sale next month.