The consortium comprising CEL Development and Unique Residence has been awarded the tenders for two residential sites at Fernvale Road.
The developers submitted the highest bid of $234.9 million and $252.1 million for Parcel A and Parcel B respectively.
The residential sites were launched for public tender on 26 June 2014, and the land parcels were offered for sale on 99-year lease terms.
Most of the area around Fernvale Road hosts a number of newer HDB estates, while some of the condominiums in the vicinity include Lush Acres, Rivertrees Residences, Riverbank @ Fernvale and H2O Residences.
Image source: URA
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
Related Stories:
Govt to explore easier ways for seniors to monetise flats
Price drops may continue for 12-18 months
Singapore’s future population still uncertain: Chan Chun Sing
