15 Jun '17, 10am

Bidadari mixed-use site attracts $1.132 billion top bid

SPH and Kajima Development jointly submitted the top bid of $1.132 billion for the site at Upper Serangoon Road. (Source: HDB) The highly anticipated tender for a mixed commercial and residential site in Bidadari closed on Tuesday (13 June) after attracting 12 bullish bids from property developers, revealed the Housing and Development Board (HDB). Singapore Press Holdings (SPH) and Kajima Development joined forces to submit the top bid of $1.132 billion for the approximately 273,842 sq ft site. The staggering price translates to $1,181 psf per plot ratio (psf/pr). The second-highest bid of around $1.118 billion came from Far East Civil Engineering and Sekisui House. Other bidders included big-name players such as CapitaLand, GuocoLand and Frasers Centrepoint Limited. Tay Huey Ying, Head of Research & Consultancy at JLL Singapore, noted that the top bid is some 50 percent h...

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

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Bidadari mixed-use site attracts $1.132 billion...

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SPH and Kajima Development jointly submitted the top bid of $1.132 billion for the site at Upper Serangoon Road. (Source: ...

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