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Sembawang EC site sees tepid response; JBE unit tops tender with S$692 psf ppr bid
Site for small 265-unit executive condominium attracts four bids, including lowball S$381 psf ppr offer
Published Thu, Sep 11, 2025 · 05:42 PM — Updated Thu, Sep 11, 2025 · 10:25 PM
[SINGAPORE] JBE Holdings-owned Oriental Pacific Development topped four bids for an executive condominium (EC) site in Sembawang, in a state tender that saw lower-than-expected bids on Thursday (Sep 11).
The top bid of S$197.78 million works out to about S$692 per square foot per plot ratio (psf ppr) for the 99-year leasehold plot that can accommodate a 265-unit project.
Market watchers had anticipated a top bid of between S$700 and S$800 psf ppr for the Sembawang parcel, after an August tender for a Woodlands EC site set a new benchmark with City Developments Ltd’s (CDL) S$782 psf ppr bid.
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