11 Jul '18, 1am

Hillview land site near MRT station sold for $460 million

A land site at Hillview Rise has just been sold to top bidder, Hong Leong Group for $460 million. Hillion Residence. Picture: iProperty Hong Leong Group won tender over 8 other bids 7 other bidders ( total of 9 bids) for the site were submitted under the dual-envelope system . Under this system, bidders are required to submit their concept proposal and bid-price in separate envelopes. Only upon selection of the concept proposal is the envelope with the bid-price opened and the project awarded to the highest bidder. Hong Leong Group’s listed developer City Developments Ltd (CDL) linked up with CapitaLand to submit two separate proposals. This Hillview Rise site was released under the Government Land Sales (GLS) tender . This land parcel comes with attractive attributes. It is within walking distance of the MRT station and yet has the exclusivity of a private neighbourhood. ...

Full article: https://www.iproperty.com.sg/news/hillview-land-site-near...

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