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Top bids for Cuscaden site, Mattar Road site and Silat Avenue come in at S$410m, S$223m and S$1.04b respectively
SC Global Developments, FEC Properties and New World Development teamed up to table a bid of close to S$410 million for the prime residential site within the Orchard Road district along Cuscaden Road.
This bid, which translated to S$$2,377 per square foot per plot ratio (psf ppr), trumped eight other bidders for the site, whose tender closed on Thursday under the confirmed list in the Government Land Sales programme.
Two other sites closed at the same time under the batched tender closings announced by the Urban Redevelopment Authority.
The residential site in Mattar Road saw 10 bids, with a top bid of S$223 million or S$$1,109 psf ppr hailing from FSKH Development Pte Ltd, which is a consortium of Hock Lian Seng Holdings, Keong Hong Holdings and TA Corporation.
The residential site in Silat Avenue received only one bid - S$1.04 billion or S$1,138 psf ppr - from a consortium consisting of UOL, UIC and Kheng Leong Company.