The Housing and Development Board (HDB) has awarded the land parcel at Upper Serangoon View to joint bidders FCL Topaz, Far East Civil Engineering and Sekisui House for S$156.8 million.
Their bid was the highest of the four bids received at the close of the tender on November 9.
The land parcel, which is meant for condominium housing development, has a site area of 13,000 square metres and a maximum allowable gross floor area of about 45,500 square metres.
The site was launched for public tender on September 22.
The project, which can have about 540 dwelling units, has a 99-year lease period.
HDB said the development has to be completed within 60 months from the date of acceptance of tender.
The project’s breakeven cost is estimated around S$650 to $680 per square foot, and the condos are expected to be sold between S$800 and S$850 per square foot.
Source : Channel NewsAsia – 12 Nov 2010