A land parcel designated for Executive Condominium (EC) housing at Anchorvale Crescent attracted three bids after the tender closed yesterday.
Sim Lian Land submitted the highest bid of $157.8 million, followed by Allgreen Properties with a bid of $143.9 million.
Meanwhile, Victoria Realty submitted the lowest bid of $126.8 million for the 17,450.10 sqm site, which is estimated to yield 525 dwelling units
“The number of bids reflect the current sentiment of the EC market particularly in the North East Region. It is not surprising given that there are now a record 2,000 vacant EC units that have been launched and remain unsold islandwide as at December 2014,” said Desmond Sim, Head of CBRE Research in South East Asia.
He added in the near future, there are at least 6,000 EC units in the pipeline, of which 1,700 are located in the northeast of Singapore. “Developers also took into consideration that potential demand has to contend with the Mortgage Servicing Ratio and the resale levy,” he said.
HDB will evaluate the bids and announce the award of the tender at a later date.
Image source: HDB
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
