30 Nov '12, 4am

PropertyNews Bishan site receives 9 bids: By Romesh Navaratnarajah: Allamanda Residential De...

Allamanda Residential Development, a unit of CapitaLand, has submitted the top bid of S$505.1 million for a housing site at Bishan Street 14 (pictured ), according to the Housing and Development Board (HDB). The 11,227.8 sq m site could be developed into 645 residential units. Launched for sale on 15 October, the 99-year leasehold site attracted a total of nine bids from developers. The top bid works out to S$9,180.93 psm on the gross floor area (GFA). Meanwhile, a consortium comprising Singland Homes, UOL Venture Investments and ORIX Investment and Management offered the second highest bid of S$490.1 million. HDB will announce the final tender results after all bids have been evaluated.

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

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