HDB closes tender for residential site in Tampines

The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Avenue 8 after receiving six bids.

The highest bid of S$187.6 million came from joint bidders Hoi Hup Realty, Sunway Developments and SC Wong Holdings.

That translates to about S$292 dollars per square foot per plot ratio.

The land parcel has a site area of more than 20 thousand square metres and a maximum gross floor area of over 57 thousand square metres.

The site was launched for public tender on October 6 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 – 23 Nov 2010

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