In a press statement released today, HDB said it plans to launch another Build-to-Order project in Punggol this August.

It said the continued launch of new BTO projects in Punggol will also further contribute towards realising the Punggol 21+ vision of a Waterfront Town of the 21st Century.

HDB cited high demand for BTO projects in Punggol Town for the proposed launch.

Punggol Residences development, which launched on 30 July this year, had garnered 5,147 applications for the 769 units available.

According to a spokesperson for HDB: "This translates to a subscription rate of 6.7 times. The strong interest shows that homebuyers recognise that HDB's latest project offers good value for money."

To date, HDB has launched about 2,800 flats under the BTO system.

In its latest statement, HDB said it will step up its supply of flats under BTO to as much as 8,000 or more.

HDB also said it will be monitoring the demand for flats in other towns and will launch new housing contracts in these towns under the BTO system where appropriate.