A 21,718.4 sq m executive condominium (EC) site at Sembawang Crescent/Sembawang Drive (pictured) received a total of eight bids when its public tender closed yesterday, said the Housing and Development Board (HDB).
Offered on a 99-year lease, the site has a maximum permissible gross floor area (GFA) of 60,811.52 sq m with a plot ratio of 2.8.
The top bid was submitted by JBE Holdings at S$211.92 million or S$3,484.87 psm on the GFA. This was followed by an offer of S$210.11 million from FCL Place and Hytech Builders.
The future EC development is expected to yield about 650 units.
The housing board will announce the winning bidder after all offers 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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