Digestible plot size helps draw bids for Sembawang Park site tender
Tuan Sing's S$481 psf ppr tops nine bids submitted and is slightly above market expectations
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
A RELATIVELY small land size, affordable lumpsum investment and the absence of competition in the locale helped a 99-year leasehold private housing site near Sembawang Park to attract nine bids at a state tender that closed on Thursday.
The top bid was also slightly above the higher end of market expectations. Tuan Sing Holdings' fully-owned unit Dillenia Land placed the highest bid of S$51.07 million, which works out to S$481 per square foot per plot ratio (psf ppr). Property consultants had earlier predicted a winning bid of up to S$470 psf ppr for the 0.7-hectare site along Jalan Kandis.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
