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MCL Land places S$630 psf ppr top bid for 99-year private housing site in Jurong West

A 99-year private housing site in Jurong West Street 41 (Parcel B) has garnered nine bids at a state tender that closed on Tuesday.

MCL Land (Vantage) placed the top bid of S$338.12 million or S$630.13 per square foot per plot ratio (psf ppr). The second highest bid, from HY Realty, was S$317.9 million or about S$592 psf ppr.

Sing Haiyi Group's Phoenix 99 Pte Ltd partnered Kay Lim Holdings and Haiyi Properties for a bid of nearly S$297 million or S$553.50 psf ppr.

Also bidding at the tender was City Developments unit Verwood Holdings, which teamed up with Hong Leong Holdings unit Intrepid Investments and TID Residential for a bid that works out to about S$550 psf ppr.

The lowest bid, from Allgreen Properties, was at S$222.89 million or S$415 psf ppr.