The state tender for a 99-year leasehold plot along Tampines Road has attracted a total of 16 bids from property developers.
 |
This was higher than the 14 bids attracted from developers for the land parcel at Lakeside Drive and Boon Lay Way when the public tender closed on Tuesday.
Fragrance Properties placed the highest bid of S$16.2 million for the residential site. This translates to about S$4,000 psm per gross floor area.
The second highest bid of S$15.5 million came from Whye Wah Group, which is involved in building construction, as well as the furniture-making and upholstery business.
The site, which has a minimum price of S$6.5 million, was launched for sale last month under the Reserve List of the government land sales programme for H1 2010.
With a maximum gross floor area of more than 3,000 sq m, the site is zoned to be developed into apartments or landed homes.
The final tender results will be announced by HDB in two weeks’ time.