China's Nanshan pips 17 other bidders for Bishan housing site
It bids S$173.6m, or S$731 psf ppr, for the Lorong Puntong plot released by URA
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CHINESE conglomerate Nanshan Group has topped the bids for a site off Sin Ming Avenue released by the Urban Redevelopment Authority (URA), potentially marking its first foray into the residential market here.
Nanshan's bid of S$173.57 million for the site in Lorong Puntong beat a field of 17 other bidders that included a mix of local and foreign developers.
Working out to S$731 per square foot per plot ratio (psf ppr), the bid is also higher than the $720 psf ppr that UOL and Singapore Land paid for the nearby Thomson Three site in August 2012.
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