Redhill plot draws 10 parties, but bids seen as cautious
Top bid of S$851 psf ppr is at lower end of earlier forecasts and below that for Principal Garden tender
Singapore
A 99-year leasehold, 0.84-hectare site next to Redhill MRT Station along Alexandra View drew 10 bids at a state tender, in line with what consultants had earlier expected.
The highest bid by Tang Skyline Pte Ltd was S$376.9 million or about S$850.81 per square foot per plot ratio (psf ppr).
This was on the lower end of consultants' earlier forecast of a winning bid in the range of S$800 psf ppr to S$1,050 psf ppr.
JLL national research director Ong Teck Hui said this reflects caution among the bidders. That said, the interest from 10 bidders was still conside…
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