Friday, December 07, 2012

Punggol EC site receives S$162.1m top bid

A 99-year leasehold site slated for executive condominium (EC) development at Punggol Field Walk/Punggol East received the top bid of S$162.1 million from Sing Holdings when its public tender closed yesterday, said the Housing and Development Board (HDB).

The site attracted a total of seven bids from interested developers. Launched for sale on 15 October, the 14,306.90 sq m land parcel could generate some 435 housing units.

The top bid from Sing Holdings translates to S$3,776.73 psm on the site’s gross floor area (GFA). The site’s maximum permissible GFA is 42,920.70 sq m with a plot ratio of 3.0.

JBE Holdings submitted the second highest offer of S$148.92 million or S$3,469.65 psm on the GFA.

The housing board will announce the final tender results after all bids have been evaluated.

View the original article here

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