Friday, June 8, 2012

Pasir Ris Drive 3 residential site receives five bids

Business Times: Wed, Jun 06
THE latest tender closing for a 99-year leasehold residential site at Pasir Ris Drive 3 saw cautious bidding yesterday, with only five bids received.

Despite the measured response, the top bid of $211 million, or $418.3 per square foot per plot ratio (psf ppr), was within expectations, said Credo Real Estate executive director Ong Teck Hui.

The top bid was put up by Capital Development, whose shareholders include Lee Siaw Ling, Low Khoon Huat, Lakshmanan s/o Seenivasakan, Lee Keng Tiong and Lim Yong Ying Calvin. It narrowly beat the second highest bid of $416.1 psf ppr which was put up by Singland Development...
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