A 99-year leasehold site slated for executive condominium (EC) development at Punggol Field Walk/Punggol East (pictured) received the top bid of S$162.1 million from Sing Holdings when its public tender closed yesterday, said the Housing and Development Board (HDB).
The site attracted a total of seven bids from interested developers. Launched for sale on 15 October, the 14,306.90 sq m land parcel could generate some 435 housing units.
The top bid from Sing Holdings translates to S$3,776.73 psm on the site’s gross floor area (GFA). The site’s maximum permissible GFA is 42,920.70 sq m with a plot ratio of 3.0.
JBE Holdings submitted the second highest offer of S$148.92 million or S$3,469.65 psm on the GFA.
The housing board will announce the final tender results after all bids have been evaluated.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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