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MCL Land tops bids for Margaret Drive residential site with S$238.4m

Analysts say the aggressive bidding for the 99-year leasehold land signals that developers are reading the market positively

Published Tue, Dec 6, 2016 · 09:50 PM
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MCL Land has emerged top in a fierce contest among 14 bidders for a residential land parcel at Margaret Drive.

The top bid of S$238.39 million translates to S$997.85 per square foot per plot ratio (psf ppr) based on the maximum gross floor area of the site near Commonwealth MRT station, which is big enough for 275 homes.

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