SPH, Kajima team up to place top bid for Bidadari residential and commercial site

ENTITIES linked to Singapore Press Holdings (SPH) and Kajima Development have placed the top bid at a state tender for a 99-year-leasehold mixed commercial and residential site in Bidadari Estate.

They have offered S$1.132 billion, which works out to S$1,181 per square foot per plot ratio.

The second highest bidder was a tie-up between Far East Civil Engineering and Sekisui House, which offered about S$1.12 billion for the site. Other bidders included GuocoLand, Kingsford, Sim Lian, Nanshan Group Singapore, City Developments and Chip Eng Seng.

In all, the tender received 12 bids

The site can yield about 825 private homes and up to 15,000 square metres of shops and restaurant uses.