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Bids for CPF Building top S$500m: sources

Two of the highest bids said to have possibly come from Ascendas-Singbridge and Richard Li's PCPD

Kalpana Rashiwala

Published Wed, Nov 18, 2015 · 09:50 PM

Singapore

BIDS for the CPF Building at 79 Robinson Road have gone past S$500 million - surpassing the S$450 million that market watchers were expecting when the tender for the ageing office block was launched two months ago, BT understands.

The tender exercise, which closed on Oct 28, is said to have drawn fewer than 10 bids. The two highest offers came in close to each other - one from a Singapore party and the other from a foreign bidder.

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