ChoiceHomes-CEL Devt JV submits top bid for Pasir Ris EC site

The Housing and Development Board (HDB) has received six bids for the land parcel at Pasir Ris Drive/Elias Road at the close of the tender on Thursday.

The highest bid came from joint bidders ChoiceHomes Investments and CEL Development, which submitted a bid of S$89.89 million.

EL Development put in the second highest of S$89.33 million, while the lowest bid of S$61 million came from Ecco Development.

The land parcel, which is proposed for Executive Condominium housing, has a site area of over 15,100 square metres and a maximum allowable gross floor area of nearly 31,800 square metres.

The site was launched for public tender on September 8 and has a lease period of 99 years.

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

Source : Channel NewsAsia – 21 Oct 2010

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