HDB has awarded the tender for an Executive Condominium (EC) site at Woodlands Avenue 12 to Hao Yuan Investment, after it submitted the highest bid of $103.79 million.
Launched for sale on 16 December 2014, the 12,388.3 sq m site has a maximum gross floor area of 34,687.24 sq m and a plot ratio of 2.8.
The 99-year leasehold site (pictured) attracted seven bids and is expected to be developed into a project with 390 housing units. It is located within close proximity to Woodlands East Industrial Estate and Sembawang Air Base.
SLP International Executive Director Nicholas Mak said in media reports Hao Yuan’s top bid for the site, which translates to $278 psf ppr, is the lowest for EC land since July 2011, when a site in Punggol Way was sold for $270 psf ppr.
Image by HDB
Muneerah Bee, Senior Journalist at PropertyGuru, wrote and edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
