The Urban Redevelopment Authority (URA) closed the tender for a residential site at Choa Chu Kang Road / Phoenix Road, after receiving a total of five bids.
The top bid was jointly submitted by Far East Civil Engineering (Pte) Limited and China Construction (South Pacific) Development Co Pte Ltd at S$142.77 million.
EL Development Pte Ltd offered the second highest bid of S$122 million, while CEL Development Pte Ltd was the lowest bidder at S$98.04 million. Other groups which participated in the tender include Leng Hoe Development Pte Ltd (S$114.30 million) and Hezuo Development Pte Ltd (S$99.93 million).
Launched on 5 May 2011, the 99-year leasehold site has a total site area of 15,385.6 sq m and a maximum gross floor area (GFA) of 32,310 sq m. It is zoned for residential development and can potentially yield about 335 housing units.
“The site is on Choa Chu Kang Road next to Phoenix Heights Estate. Located on the fringe of Choa Chu Kang and Bukit Panjang HDB estates, residents of the up-coming subject development will benefit from the amenities and facilities there,” said Joseph Tan, Executive Director, Residential, CB Richard Ellis (CBRE).
“The ITE College West is situated nearby and the Teck Whye LRT station is a short walk away.”
The URA said it will evaluate the tender result and a decision on the award will be announced at a later date.
Meanwhile, the tender for the industrial site at Woodlands Avenue 12 (Parcel 2) has been awarded to OKH Development Pte Ltd, after it submitted the highest bid of S$84.243 million (S$1,636.13 psm of gross plot ratio).
Zoned for Business 1 development, the 60-year leasehold site has a total area of 20,595.9 sq m and a maximum gross plot ratio of 2.5.
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