URA tender pulls in 8 bids for Jalan Tembusu plot, and 4 for Lentor plot

THE maiden state tender for private housing sites, coming after the mid-December property cooling measures, has drawn mixed results. 

The 8 bids received for a District 15 plot at the corner of Jalan Tembusu and Tanjong Katong Road, as well as the highest bid (from City Developments or CDL) of S$1,302 per square foot per plot ratio (psf ppr), were at the upper end of the range forecast by property consultants polled by The Business Times in the week before the tender closed on Tuesday (Jan 18, 2022). This took into account the impact of the cooling measures. 

A plot near Lentor MRT station near Ang Mo Kio fetched 4 bids, with the highest (from a tie-up involving entities of Hong Leong Group Singapore, and mainboard-listed GuocoLand) at S$1,060 psf ppr. This price is closer to the lower end of the S$980-1,200 psf ppr forecast by property consultants in the BT poll.