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Keenly contested Fernvale site gets top bid of S$287.1m

Sing Holdings-Wee Hur JV beats 13 other bidders for state tender of 99-year leasehold land meant for private housing

Kalpana Rashiwala

Published Tue, Sep 27, 2016 · 09:50 PM

Singapore property

Singapore

DEVELOPERS continue to be hungry for land.

A state tender on Tuesday for a 99-year leasehold private housing site along Fernvale Road in the Sengkang area beat earlier market projections. It garnered 14 bids with the top bid at S$287.1 million or S$517.03 per square foot per plot ratio.

Bidding was competitive, with the top bid coming in just 0.005 per cent higher than the second highest bid - one of the keenest at a Government Land Sales (GLS) tender, according to SLP International executive director Nicholas Mak.

When the 1.7-hectare site was launche…