07 Jun '11, 2pm

DTN Singapore: URA receives 3 bids for Woodlands residential site: SINGAPORE : The Urban Redevelopment Authority...

SINGAPORE : The Urban Redevelopment Authority (URA) has received three bids for a 99-year residential land site at Woodlands Avenue 2 and Rosewood Drive. The highest bid of S$151.5 million came from a consortium of Fragrance Group and Aspial Corporation. It works out to about S$3,950 per square metre. The next highest bidder was a consortium of Far East Civil Engineering and Sekisui House, which submitted a bid of S$149.8 million or about S$3,910 per square metre. EL Development was the lowest bidder with a tender of S$120 million or S$3,130 per square metre. The site has an area of 27,380 square metres and a maximum gross floor area of around 38,330 square metres. It was launched for public tender on April 26. Commenting on the site, CB Richard Ellis (CBRE) said the land is opposite the Sports School and Innova Junior College, and about 15 minutes' walk to Woodlands MRT s...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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