29 Jan '13, 10am

Cooling measures fail to dampen bids for Jurong West site: By Romesh Navarat... property market

The public tender for a residential site (pictured ) at Jurong West Street 41 (Parcel A) closed today after attracting 12 bids, according to the Urban Redevelopment Authority (URA). Launched for sale on 15 November 2012, the 99-year leasehold site has a land area of 240,652 sq ft and a maximum gross floor area (GFA) of 673,832 sq ft. The top bid of S$438.8 million or S$651 psf on the GFA was submitted by MCL Land (Prestige). Meanwhile, Secure Development submitted the second highest offer at S$424.9 million (S$630 psf/GFA). Joseph Tan, Executive Director, Residential at CBRE said: "As expected, the site drew a high level of interest among developers. It is one of the plum sites identified in the confirmed list for H2 2012. It is 450 metres to the Lakeside MRT station, which will eventually be linked to the Jurong Region Line. That translates to a five minute walk to the MR...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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