HDB receives 19 bids for Bishan land parcel

The Housing and Development Board (HDB) has received a total of 19 bids for the residential land parcel at Bishan Street 14 at the close of its tender on Thursday.

Bishan Residential Development submitted the highest bid of S$550.1 million for the site.

The 11,997 square metre land parcel is meant for condominium housing development and is being offered for sale on a 99-year lease.

It has a maximum gross floor area of about 58,786 square metres, which can yield an estimated 650 dwelling units.

The top bid of S$550.1 million for the land parcel translates to about S$9,358 per square metre per gross floor area.

The next highest bid of S$432.3 million came from Keppel Land Realty, followed by a S$427.8 million bid by MCC Land (Singapore).

Other tenderers included Qingdao Construction (Singapore), MCL Land, Allgreen Properties and Sim Lian Land.

The lowest bid of S$213 million was submitted by Leng Hoe Development.

The land parcel was launched for public tender on January 21.

HDB said it would evaluate the bids and announce the final tender results within the next two weeks.

Source : Channel NewsAsia – 24 Feb 2011

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