HDB closes tender for Tampines Central 7 after four bids

The Housing and Development Board (HDB) has closed the tender for a residential site at Tampines Central 7 after receiving four bids.

The highest bid came from developer Sim Lian Land for S$278.8 million.

The land parcel has a site area of 22,000 square metres and a maximum gross floor area of 66,000 square metres.

The site, slated for executive condominium (EC) housing, was launched for public tender on February 23 and has a lease period of 99 years.

Director of Research & Advisory at Colliers International, Chia Siew Chuin, said the top bid translates to about S$392 per square foot per plot ratio and is yet another record unit land price set for an EC project.

Ms Chia added that while the number of contenders for the site was modest with four parties, the top bid reflects a very bullish outlook for EC developments.

Earlier last month, a recently-awarded EC land parcel located at Choa Chu Kang Drive saw a land price of about S$321 per square foot per plot ratio.

HDB said it will evaluate the tender bids and announce the final tender results at a later date.

Source : Channel NewsAsia – 14 Apr 2011

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