Sunday, February 12, 2012

$346m bid for Bedok site beats expectations

Straits Times: Fri, Feb 10
A RESIDENTIAL site near Tanah Merah MRT station has attracted a better-than-expected top bid of $345.9 million.

Interest was keen with a seven-way contest for the site in Bedok South Avenue 3, but it was not quite as intense as the 17 developers vying for a recent site.

A tie-up between Far East Organization, Frasers Centrepoint and Sekisui House lodged the top bid of $534 per sq ft (psf) per plot ratio (ppr) for the 2.9ha Bedok site.

Experts had predicted the top bid to come within the range of $380 psf ppr to $500 psf ppr...

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Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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