A residential site at Jurong West Street 41 (Parcel B) has been awarded to MCL Land (Vantage) after the developer submitted the highest bid of $338.12 million in the tender exercise which closed on Tuesday.
Launched for sale last December, the 17,803.5 sqm 99-year leasehold site has a maximum permissible gross floor area (GFA) of 49,850 sqm.
The top bid translates to $6,782.71 psm on the GFA.
The land parcel attracted a healthy nine bidders, and this is “testament to the confidence of the bidders in the face of a cut back in the number of residential sites in the Government Land Sales Programme”, said Desmond Sim, CBRE Research Head, Singapore and South East Asia.
According to URA, the site is close to Lakeside MRT station as well as shopping, dining and entertainment options at Jurong Point, JCube, Jem and Westgate.
Photo by URA.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
