A residential site at Jalan Jurong Kechil (pictured) has attracted overwhelming response from developers, with a total of 23 bids received when the Urban Redevelopment Authority (URA) closed its public tender yesterday.
Launched for sale on 19 September, the 10,170.8 sq m site was offered with a lease option of 30, 45 or 60 years. It has a maximum permissible gross floor area (GFA) of 14,239 sq m.
Of the 23 bids, the highest offer of S$73.8 million or S$5,182.95 psm on the GFA was submitted by World Class Developments. This was followed by CEL Property at S$66.89 million and Roxy Homes at S$59.46 million.
Most of the developers submitted bids for a 60-year lease, except for Kwan House which tendered for a 45-year lease and also submitted the lowest offer of S$23.29 million.
The successful tenderer may develop the site for condominium or retirement housing. The URA will announce the winning developer after all the bids have been evaluated.
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