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Choa Chu Kang executive condominium site draws 11 bids

Tuesday, July 28, 2015 - 18:11

A STATE tender for a 99-year-leasehold executive condominium (EC) site in Choa Chu Kang Avenue 5 has attracted 11 bids.

The top bid, from a partnership between Qingjian Realty (Residential), Suntec Property Ventures and Bohai Investments (Sengkang), was S$156.157 million or S$295.12 per square foot per plot ratio (psf ppr).

The second highest bid, from TID Residential, was S$275.71 psf ppr. Allgreen Properties offered about S$253 psf ppr for the site.

Two separate tenderers - Sim Lian Land and Centra One - each placed the lowest bid of S$108 million or S$204.11 psf ppr.

The site can generate an estimated 490 EC units. ECs are a public-private housing hybrid.

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