Friday, June 1, 2012

Only 5 bids for Sengkang Square site

Straits Times: Fri, Jun 01
A WELL-SITED residential plot in Sengkang Square has attracted only five bids - weaker interest than industry experts had expected.

Still, the top bid was within expectations of between $360 million and $400 million.

EL Development put in the top bid of $383.3 million, or $527.65 per sq ft per plot ratio (psf ppr).

White Haven Properties came in second with a pitch of $348 million, or $479.02 psf ppr.

The lowest bid, from Singland Development and UOL Venture Investments, was $301.8 million, or $415.42 psf ppr.

The 99-year-leasehold site in Sengkang Square/Compassvale Drive was among six sites put on the market in April under the Government Land Sales programme.

The successful developer can build condominiums or flats on the 22,498 sq m site, or seek approval for a combination of flats and strata-landed homes...
To find out more, kindly join us at Real Estate Digest

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

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