SPH, Kajima to build over 600 homes in Bidadari Estate

Singapore

SINGAPORE Press Holdings (SPH) and Kajima Development plan to develop more than 600 residential units and a retail/commercial component with a gross floor area of about 310,000 square feet on a 99-year leasehold site in the new Bidadari Estate that they were awarded on Wednesday.

The two teamed up to form an equal partnership that placed the top bid for the site at a tender conducted by the Housing & Development Board. The tender closed on June 13, drawing 12 bids.

The SPH-Kajima consortium's winning bid of S$1.132 billion translates to S$1,181 per square foot per plot ratio based on the maximum gross floor area of 958,450 sq ft allowed for the commercial and residential site next to…