By Cheryl Tay:
A
residential site located at Ang Mo Kio Avenue 2 has been awarded to
Pinehill Investments Pte. Ltd, which lodged the top bid of S$550 million
for the 99-year leasehold site, said the Urban Redevelopment Authority
(URA).
Launched for tender on 15 November, the site received
strong interest from a total of 12 bidders, with Pinehill submitting the
highest bid at S$8,502.35 psm on the site’s gross floor area (GFA).
Offering
a site area of 18,482.2 sq m and a maximum permissible GFA of 64,688 sq
m, the site is expected to yield around 680 residential units.
Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@propertyguru.com.sg
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