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Choa Chu Kang EC site draws 11 bids

Top bid of S$295 psf ppr is 7% above next highest offer; most bidders are cautious

Kalpana Rashiwala

Published Tue, Jul 28, 2015 · 09:50 PM

Singapore

THE tender for a far-flung executive condominium (EC) site along Choa Chu Kang Avenue 5 has attracted 11 bids, more than the three to seven bids property consultants had forecast when the site was launched in May.

Analysts attribute this to residential developers' continued hunger for land, the raw material they need to keep their businesses going, even when the property market outlook appears dim.

The top bid …

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