CEL Devt submits top bid of S$112.7m for Bedok DBSS site

he Housing and Development Board (HDB) has received six bids for the land parcel at Bedok Reservoir Crescent at the close of the tender on Tuesday.

The site is for public housing development under the Design, Build & Sell Scheme (DBSS).

The highest bid came from CEL Development, which submitted a bid of S$112.69 million.

Kwan Hwee Investment placed the second highest bid of S$109.89 million, while the lowest bid of S$88.2 million came from joint bidders United Engineers Development & Maxdin.

Other tenderers included Hoi Hup Realty, Sim Lian Land and Khai Wah Development.

The land parcel has a site area of over 16,600 square metres and a maximum gross floor area of 46,671 square metres.

The site was launched for public tender on September 14 and has a lease period of 103 years.

HDB said it will evaluate the tender bids and announce the final tender results within the next two weeks.

Source : Channel NewsAsia – 2 Nov 2010

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