You are here

9 bids for Canberra Link EC site; 5 for Dairy Farm Road plot and 3 offers for Jalan Jurong Kechil at state land tenders

UNITED Engineers' UED Residential has submitted the top bid of S$368.8 million, or S$830 psf per gross floor area (GFA) for a Government Land Sales (GLS) site at Dairy Farm Road. 

There were five offers in all for the 211,486 sq ft site which is for residential development with commercial uses on the first storey. The 99-year site has a maximum permissible GFA of 444,129 sq ft, and was launched for sale on May 31.

The second highest bid was from developer MCC Group's MCC Land (Singapore) and Greatview Group and Yu Zhisong's Greatview Investment, for S$364.9 million, and the lowest bid came from Wee Hur Development for S$228.8 million or S$515 psf.

Those who also entered the bidding ring included a tie-up between COHL Singapore and CSC Land Group (Singapore) for S$357 million, and Chip Eng Seng's CEL Property Development for S$333.3 million.

sentifi.com

Market voices on:

CSC Land Group (Singapore) is a unit of China Construction (South Pacific) Development Co Pte Ltd, while COHL Singapore belongs to Jiak Kim Propco Sarl, which has a Luxembourg address.

Meanwhile, the highest offer for the Jalan Jurong Kechil site went to a tie-up between COHL Singapore and CSC Land Group (Singapore) for S$215 million or S$1,002 psf per gross floor area.

There were two other bids: one from Hao Yuan Investment, for S$163.8 million, and another from Sim Lian Land for S$130 million.

This 99-year site, which was launched for sale under the GLS on June 28, spans 153,223 sq ft with a maximum GFA of 214,513 sq ft.

The Urban Redevelopment Authority (URA) said in a statement on Tuesday, the date of tender close for both sites, that a decision on the award of the tenders will be made after the bids have been evaluated.

Separately, the Housing & Development Board announced on Tuesday evening that Hoi Hup Realty and Sunway Developments submitted the highest bid for the Canberra Link executive condominium (EC) tender for S$271 million, or S$558.22 psf per gross floor area, in a hotly-contested tender that drew nine bidders in all.

The second highest bidder was Greatview Investment and MCC Land with a bid of S$258.9 million or S$533.28 psf. The lowest bidder was JBE Development with a bid of S$201.8 million or S$415.72 psf.

Also taking part in the tender was Qingjian Realty subsidiary CNQC Realty (Treasure) Investment with a S$252.8 million bid, a tie-up between Evia Real Estate (8) and Gamuda (Singapore) for a S$250.9 million offer and a CDL Constellation (City Developments' wholly owned subsidiary) and TID Residential offer of S$245.8 million.

UED Residential and TSKY (Jervois), a subsidiary of Tiong Seng Holdings, bid S239.2 million; Kheng Leong's Peak Land bid S$228.3 million and Sim Lian Land offered S$205 million.

The 99-year land parcel was launched for tender on June 28, for a 194,187 sq ft site that will yield an estimated 450 units. It has a maximum gross floor area of 485,468 sq ft with a gross plot ratio of 2.5.

The tender closed at noon on Tuesday, and a decision on the award of the tender will be made after the bids have been
evaluated, HDB said.

Hoi Hup Realty and Sunway Developments were also responsible for the 628-unit Rivercove Residences in Sengkang, the only EC project launched this year.