Sengkang commercial site awarded to SPH

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A commercial site at Sengkang has been awarded to Earth Holdings Pte Ltd, a subsidiary of Singapore Press Holdings (SPH), after it offered the highest bid of S$328 million in a public tender that closed on 17 January 2012.

Launched for sale on 21 November 2011, the land parcel is located at the junction of Sengkang West Avenue and Fernvale Road. It has a total area of 8,790.3 sq m with a maximum gross floor area (GFA) of 26,370.9 sq m and a gross plot ratio of 3.0. It presents an excellent opportunity for the developer to create a landmark development.

“This is a location with a lot of growth potential because this part of Sengkang has a good mix of existing public housing and landed homes (in the nearby Yio Chu Kang and Seletar areas),” commented Ong Teck Hui, Executive Director at Credo Real Estate.

The S$328 million top bid works out to around S$1,155.52 psf ppr on the total land area and is 20.5 percent more than the second highest bid.

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