Sim Lian places top bid for executive condominium site in Anchorvale Crescent

A 99-year leasehold executive condominium (EC) site in Anchorvale Crescent in Sengkang has fetched three bids. Sim Lian Land placed the top bid of S$157.80 million or about S$280 per square foot of potential gross floor area.

Allgreen Properties bid S$143.89 million while Victoria Realty bid S$126.80 million.

Located near Cheng Lim LRT Station, the 1.75-hectare site is estimated to generate some 525 homes. ECs are a public-private housing hybrid with initial buyer eligibility and resale conditions that are fully lifted 10 years after the completion of the project.