SingLand-UOL venture is top bidder for Clementi housing site

Analysts say tender's prefab construction clause may have limited the number and value of bids


A 99-YEAR leasehold private housing site along Clementi Avenue 1 has fetched six bids at a state tender that closed on Dec 9.

The highest bid was from a joint venture between Singapore Land unit Singland Homes and UOL Venture Investments; its bid of S$302.1 million works out to S$615.04 per square foot per plot ratio (psf ppr).

This was 9.4 per cent more than the second highest bid from Oxley-Lian Beng Venture at S$276.20 million, or S$562.31 psf ppr.

Wee Hur Development placed the lowest bid of S$362.75 psf ppr.

Michael Ng, group general manager at Singapore Land and United Industrial Corporation, said that if the company is awarded the site, it will be a timely acquisition for SingLand...


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