A 99-year leasehold executive condominium (EC) site at Pasir Ris has been awarded to ChoiceHomes Investments Ltd and CEL Developments Ltd which offered a joint bid of $89.89 million.
The 15,142.2 sq m land parcel is located at the junction of Pasir Ris Drive 1 and Elias Road. It has a maximum allowable gross floor area of 31,798.62 sq m with a gross plot ratio of 2.1.
The land site is proposed for an executive condominium housing project, which could yield up to 320 units. Under the condition of the sale, the proposed project for the site would have to be completed within four years from the date of acceptance of tender.
The land parcel was launched for sale on September 8 and closed on October 21.