West Coast Vale private housing site fetches 9 bids

A 99-YEAR leasehold private housing site along West Coast Vale has attracted nine bids at a state tender that closed on Thursday.

The top bid of S$291.99 million or S$591.51 per square foot of potential gross floor area came from China Construction (South Pacific) Development Co.

It was just 0.7 per cent above the second highest bid of S$289.9 million or S$587.28 psf ppr by MCC Land (Singapore).

The site was offered by the Urban Redevelopment Authority (URA) under the confirmed list of the second-half 2016 Government Land Sales Programme. The 1.64-hectare site may potentially yield up to 520 residential units. Confirmed list sites are launched according to schedule, regardless of demand.