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9 bids for 99-year private housing site in Sembawang
A 99-year leasehold private housing site along Jalan Kandis near Sembawang Park has drawn nine bids at a state tender. The top bid, from Tuan Sing's Dillenia Land, was S$51.07 million, which works out to S$481 per square foot per plot ratio (psf ppr).
Qingjian Realty (Residential) was the second-highest bidder, at S$50.18 million or about S$473 psf ppr. Also bidding for the site were Nanshan Group Singapore Co, KSH Development and Allgreen Properties. The lowest bid, of S$22.89 million or about S$216 psf ppr came from Wee Hur Development.
The 0.7-hectare site can yield an estimated 110 homes in a part three-storey, part seven-storey development.
The tender was conducted by Urban Redevelopment Authority.