A land parcel at Yuan Ching Road has attracted six bids in a public tender that closed on January 5, with a joint bid between Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and SC Wong Holdings Pte Ltd offering the highest bid of $131.6 million.
This translates to around $192 psf ppr for the site, which is under the Design, Build and Sell Scheme (DBSS).
The second highest bid came from Yuan Ching Development Pte Ltd at $125.29 million. This was followed by EL Development Pte Ltd, Mezzo Development Pte Ltd, Qingdao Construction (Singapore) Pte Ltd and Sim Lian Land Pte Ltd, which offered the lowest bid of $68.5 million.
Located near the Jurong Lake District, the 99-year leasehold site is proposed for public housing development and could potentially yield up to 580 housing units. It has a total site area of 21,199.7 sq m and a maximum gross floor area of 63,599.1 sq m with a gross plot ratio of 3.0.
HDB said it will still evaluate the tender bids and announce the final tender results within the next two weeks.