HDB receives 4 bids for Upper Serangoon View condo site

The Housing and Development Board (HDB) has received four bids for the land parcel at Upper Serangoon View at the close of the tender on Tuesday.

The site has an area of 13,000 square metres.

The highest bid came from joint bidders FCL Topaz, Far East Civil Engineering and Sekisui House.

They submitted a bid of S$156.8 million.

That translates to about S$3,446 per square metre per gross floor area for the site meant for condominium housing development.

The next highest bid was by Centurion Re at around S$152.9 million and Ladyhill with a bid of S$147.8 million.

Grand Isle Holdings placed the lowest bid of about S$136.4 million.

The state land parcel has a maximum gross floor area of 45,501 square metres, and can house an estimated 540 dwelling units.

The site was launched for public tender on September 22 and has a lease period of 99 years.

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

Source : Channel NewsAsia – 9 Nov 2010

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