HDB has awarded the 28,745.9 sq m Executive Condominium (EC) land parcel at Canberra Link to Qingjian Realty at the tender price of $229.4 million.
The only other bidder was TID Residential and City Developments Limited (CDL)’s subsidiary, Verwood Holdings which submitted a bid of $208.5 million.
The land parcel is located in a developing area of Sembawang (pictured) where several sites have been reserved for future high-rise residential developments. An area has also been reserved for a school nearby. A number of Build-To-Order (BTO) flats are expected to be completed around the vicinity in 2016 and 2017.
Additionally the upcoming Canberra MRT station on the existing North-South Line is a short distance from the EC site, and there are indications of a mixed-use development to be built opposite the station.
Last year, Qingjian Realty was award EC sites in Sengkang and Woodlands. Bellewoods, the EC in Woodlands, was launch last month with strong response. It was also the first EC to be launched in 2014.
Image by HDB
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories emailmuneerah@propertyguru.com.sg
