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CDL trumps eight other bidders for Tampines residential site with S$370m bid

Bids signal that land prices seem to have returned to 2013 levels: consultants

Published Tue, Apr 25, 2017 · 09:50 PM
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CITY Developments Ltd (CDL) has emerged the top bidder for the residential site at Tampines Avenue 10 at S$370.1 million.

This translates to S$565.4 per square foot per plot ratio (psf ppr) based on the maximum gross floor area, marking a 5.7 per cent margin over the second-highest bid.

There was significant Chinese interest for the site, with five out of nine bidders being Chinese players.

Kingsford Development tabled the second highest bid of S$350 million, followed by Qingjian Realty, Nanshan Group, Greatview Investment Pte Ltd …

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