Record breaking EC bid for Compassvale Bow site

HDB has received a total of 11 bids for the sale of a site at Compassvale Bow in Sengkang.

The 19,000-sq-m site is designated for an Executive Condominium (EC) under the Design, Build and Sell Scheme (DBSS).

Opal Star and Lum Chang Building Contractors submitted the highest bid of $193 million, which is around $315 psf.
 
It broke the $220 psf recorded bid in 1997 for Summerdale EC site.

MCC Land submitted the second highest bid of $190.7 million for the site.

The number of bids reflects the developers’ eagerness to build up their land banks in suburban sites.

The announcement of the results of the final tender is expected to be announced by HDB within the next two weeks.