The consortium comprising FCL Topaz, Far East Orchard and Sekisui House has won the bid to develop a land parcel at Fernvale Close.
It topped eight bids with a S$257-million offer.
That is 2 percent more than the second-highest bid placed by MCC Land.
HDB estimated some 495 units will be built.
Analysts estimate the developers will price the suburban units at S$1,200 per square foot.
The top bid for the Fernvale Close site is 9 percent higher than the adjacent site at Sengkang West Way, which was awarded to UOL in April.
Source : Channel NewsAsia – 13 June 2013