Frasers Property unit tops bids for Sengkang EC site; UOL-led consortium is highest bidder for a condo plot in Canberra Drive

STATE tenders for three 99-year leasehold housing sites comprising two adjoining private housing sites in Canberra Drive in Singapore's north and an executive condominium or EC site along Fernvale Lane in the Sengkang area closed on Tuesday.

Canberra Drive (Parcel A) drew five bids, with the highest offer of nearly S$129.20 million or about S$644 per square foot per plot ratio (psf ppr) from Oasis Development, controlled by boutique developer JBE Holdings Group.

The second highest offer was from a  tie-up between MCC Land (Singapore) and Greatview Group, bidding at S$124.9 million or S$622 psf ppr.

The lowest bid, S$568 psf ppr, was from CSC Land Group (Singapore).

The site can yield about 220 homes.

The Canberra Drive (Parcel B) site next door drew four bids, the highest from United Venture Development (2020), controlled by UOL Group, United Industrial Corporation and Kheng Leong Company. Their bid of S$270.2 million works out to around S$650 psf ppr.

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The second highest bidder was the partnership between MCC Land and Greatview, at nearly S$621 psf ppr. CSC Land placed the lowest bid of nearly S$578 psf ppr.

This site can yield about 455 homes.

The two Canberra Link sites are connected to Sembawang Road and Seletar Expressway, and are a stone's throw from the Canberra MRT station on the North-South Line. Nearby amenities include Sembawang Shopping Centre and Sun Plaza; Sembawang Primary School is also in the vicinity.

The Fernvale Lane EC site fetched seven bids.

Frasers Property unit FCL Lodge was the highest bidder, at S$286.54 million or about S$555 psf ppr. The second highest bid of S$285.1 million or S$552 psf ppr came from a partnership between Sing Holdings Residential and MCC Land (Singapore). The lowest bid of about S$500 psf ppr was by a consortium led by Evia Real Estate.

The Fernvale Lane EC site is across the road from shopping mall Greenwich V.  The site is near Fernvale LRT station, The Seletar Mall, Fernvale Primary Schooll and Sengkang Green Primary School.