REAL estate developer Yanlord Land Group : Z25 0% on Monday (Sep 19) said an indirect subsidiary, together with two other parties, has been awarded a residential site tender at Lentor Central in Singapore at a bid price of S$481 million, or S$1,108 per square foot per plot ratio (psf ppr).

UED Alpha, a wholly-owned subsidiary of Yanlord’s United Engineers Limited, submitted the tender with Forsea Residence and Soilbuild Group Holdings.

The parties plan to build a residential development of about 470 units on the 144,714 square feet (sq ft) site, located within the new Lentor Hills estate. The site has a maximum permissible gross floor area of about 434,140 sq ft.

The second highest bid of nearly S$1,069 psf ppr was from CapitaLand Development’s Tanglin Land. GuocoLand teamed up with Intrepid Investments to place the lowest bid of nearly S$1,038 psf ppr.

Shares in Yanlord ended flat on Monday at S$1.04.