Wednesday, May 09, 2012

Woodlands EC site awarded to China-based developer

The Housing and Development Board (HDB) has awarded a residential site (pictured) at the junction of Woodlands Avenue 5 and Woodlands Drive 16 to Hao Yuan Investment Pte Ltd.

The Chinese firm offered the top bid of S$247 million, while the second highest offer came from MCL Land at S$238.7 million.


Slated for executive condominium (EC) housing, the site was launched on 15 March and drew a total of five bids when the tender closed last Thursday.


Chia Siew Chuin, Director of Research & Advisory at Colliers International, noted that “even though this site did not attract that many bids, the top two bids still reflect optimism from developers”.


With a total area of 25,800 sq m, it could house around 720 units with a maximum gross floor area (GFA) of 72,240 sq m.


View the original article here


Source From Property Guru

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