The Urban Redevelopment Authority (URA) has received three bids for a 99-year residential land site at Woodlands Avenue 2 and Rosewood Drive.
The highest bid of S$151.5 million came from a consortium of Fragrance Group and Aspial Corporation. It works out to about S$3,950 per square metre.
The next highest bidder was a consortium of Far East Civil Engineering and Sekisui House, which submitted a bid of S$149.8 million or about S$3,910 per square metre.
EL Development was the lowest bidder with a tender of S$120 million or S$3,130 per square metre.
The site has an area of 27,380 square metres and a maximum gross floor area of around 38,330 square metres.
It was launched for public tender on April 26.
Source : Channel NewsAsia – 7 Jun 2011