The tender exercise for an executive condominium (EC) site at Choa Chu Kang Avenue 5 closed on Tuesday after attracting 11 bids, revealed the Housing and Development Board (HDB).
A consortium comprising Qingjian Realty (Residential), Suntec Property Ventures and Bohai Investments (Sengkang) submitted the top bid of $156 million, or $295 per square foot per plot ratio (psf ppr). The lowest bidder was Sim Lian Land with an offer of $108 million.
Launched for sale on 19 May 2015, the 176,379 sq ft site has a maximum gross floor area of 529,136 sq ft and plot ratio of 3.0.
The land parcel is within proximity to Sunshine Place shopping centre and Chua Chu Kang Primary School.
Offered on a 99-year lease, the site could yield around 490 EC units.
A decision on the award of the tender will be announced at a later date after the bids have been evaluated.
Source: HDB
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
