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Sengkang EC site draws land-hungry developers

Hoi Hup-Sunway leads 16 bids with S$355.07 psf ppr offer, 27% more than price paid for Treasure Crest site

Kalpana Rashiwala

Published Tue, Aug 23, 2016 · 09:50 PM

Singapore

LAND-HUNGRY residential developers made a beeline for an executive condominium (EC) site in Anchorvale Lane, Sengkang, on Tuesday. The site drew 16 bids, a whopping turnout not seen for an EC site since July 2013.

The top bid of S$355.07 per square foot per plot ratio (psf ppr) from a Hoi Hup Realty-Sunway Developments tie-up exceeded all expectations and is the highest offer for an EC site since a Choa Chu Kang Drive plot (coming up as Wandervale) fetched S$361 psf ppr in September 2014.

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