20 Feb '14, 3am

Sengkang EC site awarded - Property Auctions News, Property Investment | PropertyGuru

The housing board has awarded an executive condominium (EC) site in Anchorvale Crescent to Phoenix Real Estate, a wholly-owned subsidiary of SingHaiyi Group. The tender for the Sengkang site closed last Thursday after attracting 12 bids. SingHaiyi submitted the highest bid of $193 million for the land parcel, which translates to about $3,949 psm on the gross floor area (GFA). The site was hotly contested with only a one percent difference between SingHaiyi’s tender price and the next highest bid from MCL Land (Brighton). The 16,280 sqm site has a maximum GFA of 48,840 sqm and a plot ratio of 3.0. Offered on a 99-year lease, the site could yield around 545 homes.

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

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