Qingdao Construction wins bid for Punggol EC site

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HDB has awarded the land parcel at Punggol Drive / Punggol East to Qingdao Construction Ltd after it offered the highest bid in a public tender that closed on September 23.

The property developer offered $136.2 million for the 99-year leasehold EC site, which has a total site area of $136,170 and a maximum allowable gross floor area of 53,380 sq m with a gross plot ratio of 3.4.

The site went for sale on August 5 with four developers submitting bids ranging from $103.4 million to $136.2 million.

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