Nam Hee, FCL Topaz win Yishun site tender

Nam Hee Contractor and FCL Topaz have been awarded a residential housing site located at Yishun Avenue 2 and Yishun Avenue 7.

The S$229.4-million joint bid of the companies, which translates to around $311 psf ppr, beats the other contender GuocoLand's Perfect Eagle offering a bid of $196 million or $274 psf ppr for the site.

HDB received only two bids for the site, which was released for public tender on May 5.

The 99-year leasehold site, located at the junction of Yishun Avenue 2, Yishun Avenue and Canberra Drive, has been slated for condominium housing development. It has a maximum gross floor area of 66,000 sq m and a site area of over 26,500 sq m.