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Tampines Avenue 10 site attracts 12 bids

Tampines Avenue 10 (Parcel D), a 99-year private residential site, has drawn 12 bids. The top bid, from MCC Land (Singapore), was S$227.78 million. This translates to about S$483 per square foot per plot ratio (psf ppr).

Allgreen Properties was the second highest bidder at S$212.89 million (S$451 psf ppr). Other bidders at the Urban Redevelopment Authority tender which closed on Tuesday, include Evia Real Estate, Frasers Centrepoint, Tripartite Developers and Sim Lian Land.

The lowest bid, from Edition Land, was S$127.39 million (S$270 psf ppr).

The 168,567 sq ft site can potentially generate about 490 homes.