URA tender draws 10 bids for Alexandra View site
A 99-year leasehold site next to Redhill MRT Station, located along Alexandra View, drew 10 bids at a state tender.
The highest bid by Tang Skyline Pte Ltd was for S$376.9 million or about S$9,158 per square metre per plot ratio (psm ppr).
The lowest bid, from IOI Consolidated (Singapore) Pte Ltd, was S$250 million or about S$6,075 psm ppr.
The bidding was closely-watched given the pullback in the Government Land Sales Programme and developers' desire to replenish their land bank.
The site is designated for private housing development with commercial use on the first storey.
The Urban Redevelopment Authority previously said the 0.84-hectare site can generate about 400 private homes.
This is the first confirmed list site to be launched under the Ministry of National Development's second half 2015 Government Land Sales Programme.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co