Seletar Road site draws 11 bids

The URA announced that a land parcel at Seletar Road has attracted a total of 11 bids, with Asplenium Land Ltd offering the highest bid of $123 million, or about $5,032.94 psm of gross floor area (GFA).

The 99-year leasehold residential site was launched for sale on October 26 under the confirmed list of the government’s 2H2010 GLS programme.

The second highest bid came from Fragrance Global Ltd, offering $122.1 million for the site, followed by S P Setia International at $115.8 million.

Other bidders include a joint bid between Far East Civil Engineering Ltd and Sekisui House Ltd; Seletar View Ltd; a joint bid between Sunny Vista Developments Ltd and Garden Estates Ltd; Centurion RE Ltd; Plan Achieve Ltd; Teambuild Properties Ltd; EL Development Ltd; and Meadows Investment Ltd, which emerged as the lowest bidder at $88 million, or $3,600.80 psm of GFA.

The land parcel, which is located within the residential estate of Seletar Hills, has a total site area of 17,455.9 sq m with a maximum permissible GFA of 24,439 sq m. It is proposed for residential development and could yield up to 270 housing units.

The URA said it would still evaluate the tender results and the award would be announced at a later date.