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
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
