Tanah Merah plot under GLS Programme receives 15 bids; Yishun EC site at draws 7 bids

TENDERS for two 99-year leasehold sites under the Government Land Sales Programme closed on Thursday.

A plot next to Tanah Merah MRT Station, zoned residential with commercial at first storey, drew 15 bids.

The highest bid, from MCC Land (Singapore), was S$248.99 million, which translates to about S$930 per square foot per plot ratio (psf ppr).

The second highest bid from Tucana Residential and Tucana Commercial - joint ventures between City Developments and TID - was at S$238 million or S$889 psf ppr.

The lowest bid was S$161 million or S$602 psf ppr.

The second plot, in Yishun Avenue 9 and designated for executive condominium (EC) housing development, drew seven bids.

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The top bid, from Sing Holdings, came in at S$373.5 million, which works out to about S$576 psf ppr.

The second highest was from Maximus Residential SG, which is a joint venture between City Developments and MCL Land. It bid S$342.89 million or S$529 psf ppr.

The lowest bid, from a partnership between CEL Development, Singhaiyi Investments and Ultra Inifinity, was at S$268 million or S$413 psf ppr.