MCC Land puts top bid for Sembawang site tender

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Property developer MCC Land has offered the highest bid of S$131.70 million for a land parcel in Sembawang Road/Canberra Drive during a public tender by HDB.

HDB received a total of seven bids for the 22,567.8-sq-m site, which was released for public tender in April and closed on Tuesday.

The 99-year leasehold site is slated for strata landed housing or condominium developments. It has a maximum Gross Floor Area (GFA) of 31,594.92 sq m.

MCC Land’s S$131.70 million bid translates to around S$4,168.4 psm per GFA.

The second highest bid was $122.55 million offered by Malaysia’s S P Setia International.

The results of the tender were only provisional. HDB will still evaluate the bids and announce the final results within the next two weeks.

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