Anchorvale Lane EC site fetches 16 bids; top bid from Hoi Hup

A STATE tender for a 99-year leasehold executive condominium (EC) site along Anchorvale Lane in the Sengkang area has attracted a whopping 16 bids.

The highest bid - from Hoi Hup Realty, which teamed up with Sunway Developments - was S$240.95 million, which works out to slightly over S$355 per square foot per plot ratio (psf ppr).

The second highest bid, S$235 million (or S$346.30 psf ppr) , was from Wee Hur Development. Robert Kuok's Allgreen Properties was the third highest bidder, at S$226.90 million (or S$334.37 psf ppr).

City Developments' unit Bellevue Properties was the lowest bidder, at S$176 million or S$259.36 psf ppr.

The 2.1-hectare site can generate about 635 homes.

The land parcel is near Tongkang LRT Station.

Other bidders at the tender included a tie-up between Sing Holdings and Maxdin; Kheng Leong Company in partnership with Singland Homes; Sim Lian Land; Qingjian Realty (Residential); China Construction (South Pacific) Development Co; Nanshan Group Singapore Co; Greatview Investment; Soilbuild Group Holdings; and CEL Real Estate Development.