The Housing and Development Board (HDB) has awarded the tender for a 99-year leasehold residential site at Bright Hill Drive to United Venture Development (UVD).
The tender attracted a total of six bids with UVD placing the top bid of S$291.5 million for the site, about 18 per cent higher than the next bid.
UVD is a joint venture company of UOL and Singapore Land Ltd.
The site at Bright Hill Drive spans 13,437 square metres and could yield 405 residential units.
Earlier, HDB said the tender price of S$291.5 million works out to S$7,747.74 per square metre of gross floor area.
The proposed development at the site could be condominium or flats, or – with written approval – a combination of flats and strata landed houses, but serviced apartments are not allowed.
Source : Channel NewsAsia – 10 Aug 2012