28 Jan '14, 9pm

S$226m bid for Canberra EC site #PR

Comment E-mail to friend Bookmark & Share The Housing Development Board (HDB) has revealed the provisional winning bid for a parcel of land at Canberra Drive was S$226 million – and was made by Verwood Holdings Pte Ltd and TID Residential Pte Ltd. The 28,562 sqm Executive Condominium 99-year leasehold site will have an estimated 600 units. Bidding opened on November 18 and closed at 12 noon today. There were a total of six bids for the site. Desmond Sim, Head, CBRE Research Singapore, said: "The site attracted bids from seasoned players looking to replenish their land bank. "At S$350 per sq ft plot ratio, it is lower than the previous top bid of S$382 per sq ft plot ratio at Westwood Avenue. #Developers appear to be more realistic, bearing in mind the new credit restrictions imposed on EC buyers, which can only be made up of Singaporeans. This is also reflected in the narr...

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

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