15 bids for tender at Upper Serangoon Road

Urban Redevelopment Authority (URA) said the tender for a residential site at Upper Serangoon Road / Pheng Geck Avenue (Parcel A) closed with 15 bidders.

The top bid of S$185.16 million came from Clerodendrum Land – a unit of Tuan Sing Holdings. The bid translates to a land price of S$6,106.52 per square metres of gross floor area.

Realty Consortium submitted the second highest bid of S$178.9 million, while Qingdao Construction (Singapore) handed in the third highest bid of S$175 million.

The lowest bid was S$78.2 million from Ace Asset Development.

The 99-year lease site was launched on June 21 and measures 8,663.5 square metres.

Zoned for residential use, the land has a maximum permissible gross floor area of 30,323 square metres.

URA said it will make a decision on the tender award after it evaluates the bids and will announce this at a later date.

Source : Channel NewsAsia – 11 Aug 2011

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