A residential plot (pictured) at Yishun Avenue 9 has been awarded to EL Development, said the URA.
The developer submitted the highest bid of $278.8 million for the 20,553.8 sqm site. This translates to around $4,844 psm on the gross floor area.
The tender exercise for the site closed on 11 March after attracting five bids amid a softening property market.
Offered on a 99-year lease, the land parcel is located in an established HDB town and is easily accessible via major roads and expressways.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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