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Located in District 15, the indicative price for the 20,576 square foot site is $9 million or $312 per square foot per plot ratio, says its marketing consultant United Premas.

There is also a development charge of $85,000. And United Premas says all owners have agreed to sell.

The site is zoned for residential use and has a plot ratio of 1.4.

The height restriction for the area is five storeys. It can be built up to a gross floor area of 28,807 sq ft, providing about 27 units of 1,000 sq ft each.

Suzie Mok, deputy director (asset management) of United Premas, says: 'The site offers a developer an opportunity to design an exclusive boutique development targeting at young couples, small families and upgraders.'

Meanwhile, Aspial Corporation's new boutique residential development Carlyx Residence on Carlisle Road, near Kampong Java Park, will go on sale this weekend.

The development has 12 apartments of one, two and three bedrooms, and marketing consultant Real One International says that prices will start at $410,000.

The developer will also offer a deferred payment scheme in which only 5 per cent is required upon the booking of a unit, with another 5 per cent within eight weeks.

Until then, there will be no further payment until TOP (temporary occupation permit) is issued no later than Oct 30, 2008.