Wednesday, October 17, 2012

Woodlands EC site fetches S$150.18m top bid

A residential land parcel at Woodlands Avenue 6/Woodlands Drive 16 received five bids when the tender closed yesterday, according to the Housing and Development Board (HDB).

Launched for tender on 23 August, the site is slated for development of approximately 465 executive condominium (EC) units. The 99-year leasehold site offers a site area of 16,505.40 sq m and a maximum gross floor area (GFA) of 16,505.40 sq m, with a gross plot ratio (GPR) of 2.8.

Jointly submitted by Opal Star Pte. Ltd. and Binjai Holdings Pte. Ltd, the top bid of S$150.18 million translates to S$3,249.59 psm on the GFA.

Meanwhile, the second highest bid was from Far East Civil Engineering (Pte.) Limited and China Construction (South Pacific) Development Co Pte Ltd at S$147.77 million.

The HDB will announce the winner for the tender once the bids have been evaluated.

View the original article here

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