Bullish bidding for Toh Tuck site

Singapore

AN overwhelming 24 bids were submitted for the tender of a residential plot in Toh Tuck Road, the Urban Redevelopment Authority (URA) announced on Tuesday.

This was the second highest number of bids submitted in a residential government land sales (GLS) tender since 2009, when the tender for a parcel in Westwood Avenue attracted 32 bids.

More recently, in November 2012, a tender for an Upper Bukit Timah plot also came close, garnering 23 bids; it was won by World Class Developments, a unit of Aspial Corporation, which developed it into the 60-year leasehold "retirement resort", The Hillford.

In the latest tender results, Malaysian property developer SP Setia International put in the highest …