Tuesday, June 12, 2012

Tender for Pasir Ris site awarded to Capital Development

The tender for a residential site (pictured) at Pasir Ris Drive 3 has been awarded to Capital Development after it submitted the highest bid of S$211.0 million in a public tender that closed on 5 June 2012.

Joseph Tan, Executive Director for Residential at CBRE, said the price tag works out to around S$418 psf ppr and reflects a breakeven cost of approximately S$800 psf.

The 99-year leasehold site, which was launched for sale on 16 April 2012, has a total area of 22,317.4 sq m and a maximum gross floor area (GFA) of 46,867 sq m. It is located within an established residential estate in Pasir Ris Town and is within close proximity to Changi Business Park and upcoming developments that will be attractive to professionals working in the area.

“The residential site at Pasir Ris Drive 3 is on the northern boundary of Pasir Ris new town, near Pasir Ris Wafer Fab Park. The Pasir Ris Park, PA Pasir Ris Holiday Complex and Pasir Ris Beach are a short walk away,” noted Tan.

“Amenities are available at West Plaza and Elias Mall. The Pasir Ris MRT station and White Sands shopping mall are a short drive away.”

View the original article here

Source From Property Guru

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