Record bid for Tengah EC site, 15 bids for Ang Mo Kio condo plot signal developers' hunger for land
CDL-MCL Land tie-up's top bid for Tengah site sets record for EC land; UOL-led consortium's top bid for Ang Mo Kio private housing plot is 6.3% above next highest bid
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Singapore
DEVELOPERS continue to be hungry for residential development land with the latest state tenders for two 99-year leasehold plots attracting top bids that were above market expectations.
One of the two plots, in the new estate of Tengah in Singapore's western part, fetched a record top bid of S$603.17 per square foot per plot ratio (psf ppr) for an executive condominium (EC) development. This is the first site in Tengah for ECs, which are a public-private housing hybrid. The plot attracted seven bids.
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