06 Mar '18, 2am

Developers go all out for EC land in Punggol

The lack of land allocated for executive condominiums has meant that the most recent release of an EC (executive condominium) site in Punggol was highly sought after. Record-breakingly so. River Parc Residence Aggressive bidding from developers for Sumang Walk plot 17 bids were made for the 2.7-hectare piece of land allocated for executive condominiums in Sumang Walk in Punggol. It is adjacent to My [email protected], a good location which will attract young families in the future. It was the only EC plot offered under the Government Land Sales (GLS) programme for the whole of 2017. All 17 bids surpassed the record price for EC land which was set by the Lake Life site in the Jurong Lake district in 2013. The highest bid of $509.37 million came from a joint venture between City Developments (CDL) and TID Residential. The latter is owned by Hong Leong Holdings and Mitsui Fudo...

Full article: https://www.iproperty.com.sg/news/developers-go-all-out-f...

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