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Thu, 29 Oct 2020 – 6:27 pm
BIDS for two 99-year lease sites under the Government Land Sales Program closed Thursday.
A parcel next to the Tanah Merah MRT station, divided into residential zones with commercials on the first floor, attracted 15 offers.
The highest bid, from MCC Land (Singapore), was S $ 248.99 million, which translates to about S $ 930 per square foot per parcel ratio (psf ppr).
The second highest bid from Tucana Residential and Tucana Commercial, joint ventures between City Developments and TID, was S $ 238 million or S $ 889 psf ppr.
The lowest offer was S $ 161 million or S $ 602 psf ppr.
The second parcel, at 9 Yishun Avenue and designated for executive condominium (CE) housing development, attracted seven bids.
Sing Holdings’ top bid was $ 373.5 million, which is equivalent to about $ 576 psf ppr.
The second highest was from Maximus Residential SG, which is a joint venture between City Developments and MCL Land. It offered S $ 342.89 million or S $ 529 psf ppr.
The lowest bid, from a partnership between CEL Development, Singhaiyi Investments and Ultra Inifinity, was S $ 268 million or S $ 413 psf ppr.
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