Consortium wins bid to develop land parcel at Fernvale Close

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

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