Sim Lian tops bid for Tampines site tender

Sim Lian Land has submitted a bid of approximately $178.13 million for a land parcel at the junction of Tampines Avenue 5 and Tampines Central 8.

The top bid, which translates to around $261 psf ppr, was 22 percent higher than the second highest bid offered by Qingdao Construction at $145.77 million.

Overall, the 103-year leasehold site received five bids in a public tender launched by HDB on June 23. The third highest bid was $139.89-million from a joint venture between Hoi Hup Realty and Sunway Developments, while Ho Lee Group offered the lowest bid of $110 million.

The 21,131.7-sq-m site has a maximum gross floor area of 63,395.1 sq m with a plot ratio of 3.0. It is intended for public housing development under the Design, Build & Sell Scheme (DBSS). About 1,060 sq m of the total site area will be reserved for commercial facilities, a Residents' Committee Centre and a child care centre.

HDB said it will evaluate the tender bids and announce the final tender results in the next two weeks.