A public tender for a Clementi Avenue 4 site has received a total of 11 bids, with EL Development offering the top bid of S$224 million, or approximately S$271 psf ppr.
The land parcel was made available for sale on 26 January under the design, build and sell scheme (DBSS). Analysts said the 11 bids submitted for the site was the highest number of bids received since the DBSS was launched in 2006.
Lim Yew Soon, Managing Director of EL Development, said that if the company acquires the site, it plans to build three blocks of between 38 and 40 storeys of housing, adding that there will be a mix of three-, four- and five-bedroom units for the development.
“It is quite rare for mature housing estates to have DBSS sites,” said Mr. Lim. “HDB flats in Clementi have always been very well sought after in the resale market. In addition, with new projects such as The Clementi Mall, Clementi looks set to be a very promising town.”
The top bid offered for the site was three percent higher than the second-highest bid, which was jointly offered by Centurion Re Ltd and Lian Beng Land Ltd at S$217 million.
The land parcel has a total site area of 21,906.5 sq m with a maximum gross floor area (GFA) of 76,672.75 sq m and a gross plot ratio of 3.5. HDB said the 99-year leasehold site could possibly yield up to 770 housing units.
It is located in Clementi New Town, a destination complete with convenient facilities and amenities, with shopping, food and entertainment options at West Coast Plaza and The Clementi Mall.
“This site is one of the most attractive DBSS sites offered for sale this year,” said Mr. Nicholas Mak, Head of Research at SLP International. “It is within walking distance to the Clementi MRT station and town centre.”
HDB said it will still evaluate the bids submitted and will announce the final result within the next two weeks.