A land parcel at Bedok Reservoir Crescent has received a total of 6 bids in a public tender that closed yesterday, with CEL Development Ltd offering the highest bid of $112.69 million, or around $2,414.52 psm per gross floor area (GFA).
The second-highest bid came from Kwan Hwee Investment Ltd at $109.89 million, followed by a joint bid between Hoi Hup Realty Ltd, Sunway Developments Ltd and SC Wong Holdings Ltd at $107.20 million, Sim Lian Land Ltd at $106 million and Khai Wah Development Ltd at $96 million, while a tie-up bid between United Engineers Developments Ltd and Maxdin Ltd emerged as the lowest bidder, offering only $88.20 million for the 99-year leasehold site.
The land parcel was launched for sale on September 14 under the DBSS scheme.
It has a total site area of 16,668.2 sq m and has a maximum GFA of 46,670.96 sq m with a gross plot ratio of 2.8. It is slated for public housing development, which can yield up to 430 housing units.
HDB said it will still evaluate the tender bids and will announce the final tender results within the next two weeks.