Urban Redevelopment Authority tenders for two 99-year leasehold private housing sites – one along Irwell Bank Road near Great World City, and the other near Bartley MRT Station, closed on Thursday.
Here are the provisional tender results:
The site at Irwell Bank Road drew seven bids. The highest bid, from City Developments (CDL), was at nearly S$583.89 million or S$1,515.10 per square foot per plot ratio (psf ppr).
The second-highest bid, from a consortium comprising Far East Organization, Sino Group and Sekisui House, came in at S$560.1 million or S$1,453.37 psf ppr.
Frasers Property Jade bid S$527.98 million or S$1,370.01 psf ppr. The lowest bid, from Winvale Investment, was nearly S$409.89 million or S$1,063.60 psf ppr.
The site, which can generate about 445 homes, is near River Valley Primary School and the upcoming Great World MRT Station.
Meanwhile, the Jalan Bunga Rampai site, near Bartley MRT Station on the Circle Line, fetched nine bids. Wee Hur Development placed the top bid of S$93.39 million or S$885.33 psf ppr. Sim Lian Land was the second-highest bidder at S$80.10 million or S$759.34 psf ppr.
The lowest bid, from TID Residential, was S$58.06 million or S$550.40 psf ppr.
The land parcel is near Bartley Secondary School, Maris Stella Primary and High Schools as well as Paya Lebar Methodist Girls’ Primary and Secondary Schools. The plot may yield an estimated 115 housing units.