29 Nov '13, 5am

#GlobalREBubble #Singapore 'Strong Bidding Interest For Upper Serangoon View Sites' via @SGPropertyGuru

The tender for two residential sites in Upper Serangoon View (pictured ) closed on Thursday, with both plots attracting eight bids and top bids of more than S$200 million each. Launched for sale on 30 September and offered on 99-year leases, Parcels A and B have land areas of 165,140 sq ft and 128,663 sq ft respectively. Kingsford Development submitted the highest bids for both sites at S$258.8 million for Parcel A and S$201.63 million for Parcel B. This was followed by bids from El Development for Parcel A and Maxdin and SingHaiyi Residences for Parcel B, at S$223.1 million and S$178.89 million respectively. “The eight bids submitted for each of the two sites demonstrate developers’ continued interest for residential sites. The top bid of S$522 psf per plot for both sites reflects an average 14 percent differential between the first and the second bid for Parcels A and B,...

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

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